Areas Of Practice
Business – Organizations, Contracts, and Transactions
Business owners and managers usually need a wide variety of legal services. Some needs are simple, and some complex and complicated. We focus on keeping the transactions simple and practical, but have the ability to tackle the most complex issues a business owner may face. Keeping the matters as simple and practical as possible benefits all the parties and leads to effective and efficient legal services and representation. Our Firm has substantial experience in business law, from the formation of the business, consulting during the growth of the business, and through the sale or other termination of the business, including:
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Estate Planning
The Firm provides personalized service in the area of estate planning,
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Real Estate
From the ground-up construction project to the sophisticated financing transaction, our firm provides clients with a broad range of skills and experience vital to the business of the real estate industry including: Acquisition, Disposition, Construction, Financing, Sale, Taxation, Condemnation and Valuation. The firm has worked on residential, industrial, commercial and office projects of all types and sizes, and is familiar with all the necessary elements of such projects, including:
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Tax Planning and Representation in Tax Controversies
The Firm provides personalized service in the areas of tax Planning and Representation in Tax Controversies
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Probate and Trust Administration
Probate. "Probate" is the name given to a portion of the judicial process which deals with determining the ownership of assets owned by a decedent at the time of their death. The word is derived from a Latin word meaning proof, since proving whether a decedent had a will, and whether that will is the most recent will, is a significant part of the process of determining the ownership of assets owned by the decedent. We represent the executor, administrator, or personal representative in the court proceeding. We advise the personal representative of their special duties and obligations in the probate, and assist in the preparation of pleadings and other necessary documents. In Oklahoma, the probate process includes filing a petition with the District Court to determine whether the decedent had a will and that the will is his last will and is valid. If there is no will or trust that fully disposes of a person's estate, the laws of intestate succession apply to determine the disposition of property in place of a Will. Generally, the personal representative must file an inventory of the assets and liabilities of the estate of the decedent, and arranges for appraisals. Formal notice must be given to all known creditors of the estate, and it is the obligation of the personal representative to make sure that all the creditors are determined and notified of the death of the decedent. The process makes sure that the creditors of the decedent are paid, that federal, state and local taxes are paid, and that income and estate and gift tax returns are filed, if appropriate. The probate process also insures that the assets and income of the estate are accounted for, and that the proceeds are distributed to those entitled to receive them. The personal representative and/or his counsel will need to appear before the judge on at least two occasions. There are many special provisions that may apply in a given situation. Spouses may have special rights to some property, be entitled to an allowance from the probate estate, and have a right of election to disclaim the provisions of the will, and take instead the share provided by statute. The time to complete a probate varies from a matter of several years to as little as five months. This estimate assumes that there will be no delays in obtaining necessary information, or delays in filing federal and state income and estate tax returns or obtaining a release of the estate tax liens, and that there will be no extraordinary procedures such as contested hearings, or sales of assets, etc. Trust Administration. Trust administration is a simplified process that is similar to probate but which proceeds without the need for judicial supervision. If a decedent had a revocable trust, administration is required to insure all legally due debts and taxes have been paid, and to convey the property from the trust to the named beneficiary. In some cases, the successor trustee continues the trust, or even several trusts, as the decedent may have specified. We advise the successor trustee regarding the requirements of the law, provisions of the trust, assist with filing required income and estate tax returns, and help the successor trustee implement the wishes of the decedent. |
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