Legal Question in Wills and Trusts in Oklahoma
creating grandmothers will
My grandmother asked me to help write a will and to be the executor of her estate. She only owns a small amount of property and possessions (less than 50K including house and life insurance). Will any taxes have to be filed and paid on this property prior to or when it is distributed? Also, will myself or any heirs be responsible for any outstanding debts that may remain upon her death?
1 Answer from Attorneys
Re: creating grandmothers will
If you are expecting to receive money or property uner the will, do not help your grandmother draft it! If there is an allegation that you drafted the will you may be excluded from receiving any benefit under it as that may give rise to allegations of a conflict of interest, unfair dealings, coerction, etc.
There will likely not have to be any taxes paid, however you will have to get an OTC release. The heirs are not responsible for the debts, however the estate may have to pay debts owed by your grandmother and any final expenses that she has. Because there is real property (the house) involved, I would contact an attorney that handles estate planning. A little bit of pre-planning can save you a ton of headaches later. All the best.
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