If you have been putting off making a will, have been too busy to take the time to make a will, or have decided you don’t care what happens after your death because you’ll be gone anyway, you may want to reconsider your decision. You have a “will” whether you want it or not.
If you die without a will, the Oklahoma legislature has effectively written one for you. The following is a will written by the Oklahoma legislature for a married individual with children. If you don’t like what it provides, you could make a will with different provisions.
LAST WILL AND TESTAMENT
I, John Doe, of Oklahoma City, Oklahoma, being too busy to plan the disposition of my estate for the benefit of my family, hereby delegate to the Oklahoma Legislature and the Courts the power to write my will for me; and I acknowledge that the result may be about as follows:
Disposition of Property
I, give my spouse only one-half of all of my probate property, including both real and personal property; provided that, property held in joint tenancy or subject by contract to payment to a named beneficiary shall pass to the surviving joint tenant or the named beneficiary, as the case may be.
I give my children, in equal shares regardless of their differing needs, whatever is left over. Each of my children shall have the right at age eighteen to withdraw and spend his or her entire share, without regard for his or her own future educational needs or the needs of my younger children.
If my spouse remarries, the new mate shall have the right, upon the subsequent death of my spouse, to take one-half of the property I am leaving to my spouse.
I intentionally omit leaving anything to my church or any other charity, regardless of any moral obligation that may exist.
I appoint my spouse as Personal Representative of my estate. If my spouse does not survive me or doesn’t want that job, my children can argue among themselves as to who should act as Personal Representative. If they can’t agree or no child who is over age twenty-one is willing to act, the Court can appoint whomever it chooses. The expense of a bond, and legal fees for a probate proceeding shall be paid by my heirs.
Guardian of Children’s Property
If my spouse survives me, then my spouse may act as guardian of the property I am leaving to my minor children, but subject to the supervision of the Court. My spouse shall account to the Court annually on how that property is invested and what is spent on my children. Just to make sure this task is properly performed, my spouse shall file a surety bond with the Court. The expense of this bond, the accounting, and the legal fees required for a lawyer to visit the Court every few months shall be paid out of my children’s funds. If my spouse does not survive me, I don’t care who manages my estate for my minor children.
Guardian of Children
If my spouse dies before me, I don’t care who is selected as the guardian of my minor children.
Recognizing my great debt to my country, I want my estate to pay more than its fair share of taxes, even though this will mean less is available for the support and care of my spouse and children. Therefore, I intentionally omit any tax planning from this will.
BEING FULLY SATISFIED with the foregoing provisions of this document, I will continue to ignore my responsibility to plan for my family’s future, and I willingly leave my property, my spouse and my children in the care of the Oklahoma Legislature, the courts and the IRS.
To get started on your Estate Plan, click here for a link to the Estate Planning Infillable Worksheet.
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