Will offers courts direction in how final affairs are handled
Q&A with Alan G. Hollowaypublished in The Oklahoman | August 21, 2009
McAfee & Taft tax and family wealth attorney Alan G. Holloway was featured in The Oklahoman about how wills can provide much-needed direction, especially for courts, about how your affairs should be handled upon your death. It’s a topic that’s gotten increased interest after the recent death of Michael Jackson and the wrangling over the disposition of his estate and the care for his children.
Holloway told The Oklahoman that even if you have never executed a will, you actually do have a will.
“State law governs who gets your assets on your death,” Holloway said. “However, that law may not reflect who you want to get your assets. If you have a minor child and no will, upon your death a court would choose a guardian to care for the child and to administer your assets for the child until the child reaches 18. The court-appointed guardian might not be who you would choose.”
With an executed will, you are able to make decisions and provide directions about who gets your assets, who is to be the guardian of your minor children and who is to be in charge of your estate, Holloway told The Oklahoman.