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Life insurance is normally purchased to provide cash for three primary purposes: (1) for income for dependents in case of premature death, (2) for retirement income, and (3) for the payment of estate settlement costs such as debts, claims, lawyers’ fees, and estate taxes. Adequate insurance may prevent a forced sale of business assets on [...]

An adequate job of estate planning must include consideration of estate settlement costs. Failure to anticipate costs and to plan accordingly may prevent the deceased owner’s wishes from being carried out. The probate of an estate under Oklahoma law commences in the District Court of the county where the deceased died or in which the [...]