Many people are surprised to learn that the inheritance of a retirement account like a 401(k) or IRA is determined by the beneficiary designation on the account, not on a will. 

A 529 plan is a college savings program that varies state by state, and allows investors to accumulate an investment that can be withdrawn tax free for qualified education related expenses. The Oklahoma plan is available for all investors at Oklahoma 529.

The concept of a “fiduciary” can be applied to a lot of situations, as it generally means a person who acts on behalf of another person to manage assets. Essentially, a fiduciary is a person or organization that owes to another the duties of good faith and trust. They can be board members, the trustee of a trust or estate, or even an attorney to a client.