Morgan K. Powell, Attorney at Law

2018. Are we ready to do this? YES!!!! Marium (my assistant for 9+ years) and I are certainly ready to continue providing you with prompt, affordable legal services (wills, trusts, powers of attorney, real property, business formation, probate and guardianship), in a relaxed atmosphere (same day appointments in my office or in-home visits if you wish) where we will discuss your legal needs in an un-rushed, free consultation. After we decide upon a plan of action I will quo...te you a fee to the penny which covers everythingservices, filing fees etc. If you decide to retain me we will get to work right awayand deliver the final product on YOUR timetable. We are excited about 2018 and hope that it will be the best year yet. Our wish is that it will be so for you, as well. We will do everything in our power to make it happen.

On behalf of my truly amazing assistant, Marium, this is to wish all of our wonderful clients and friends a safe and happy Holiday Season. Thanks for all support; we could not continue to serve without it. God Bless you all.

We will be closed the 21st through the 25th in observance of the Christmas Holiday. We want to wish you and your family a very Merry Christmas!

We were honored to give a seminar over estate planning to the seniors today at the Owasso community center!

We had the pleasure of putting on an Estate Planning Seminar for the seniors program at the Islamic Society of Tulsa last night. It was a great evening!

Ok, so you’ve taken the plungeyou and your spouse have set up a revocable trust. You may be thinking: What happens now? Is this going to be a lot more work? Answer: Not a lot more, just a little attention at the outset. First, the terms of the Trust (i.e. who gets what assets when you pass away) only apply to assets actually transferred to the Trust. For example you’ll transfer your home into the Trust via a deed--from you to yourselves as Trustees of your Trust--w...hich should be prepared and filed by your attorney. Bank accountschecking, savings and CDs--should be transferred into your Trust. That’s simpleyou just walk into your bank with a copy of your Trust and request the transfer, which the bank will do on the spot, and you won’t even have to get new checks. Money market accounts? Same procedure. Life insurance? Usually ok to make the Trust the beneficiary. You normally want the life insurance proceeds to be payable to your spouse, and your Trust provides that the Trust will continue after your death for the benefit of your spouse. Naming the Trust as beneficiary will accomplish this and moreyour Trust will provide how Trust assets are distributed in the event your spouse predeceases you. Naming the Trust as beneficiary will ensure those well thought out provisions will control the distribution of insurance proceeds. Then once a year review what you own. Did you open up a bank account just in you and your spouse’s names? Get it in the Trust. Did you acquire a new home or rental property in your individual names? Time to deed it to the Trust. Most days you will forget you have a Trust, even though it will continue to work for you.