This content is written for Willhoite Law, PLLC.
Oklahoma Probate Law provides a legal mechanism to transfer of probate assets of the deceased owner. The process includes value assessment, payables to creditors and owner’s legatees (if the person died with a will) or heirs (if the person died without a will). Upon the death of a property owner, this Probate Law ensures the rightful transfer of property to the successors.
In some circumstances, probate takes around 4-6 months. It based on the complexity of the estate and creditors’ claims. This period can be longer if there is a ‘challenge to the will’ presented in the court. In Oklahoma, there is a procedure called summary administration applicable on small estates to avoid lengthy probate.
To avoid probate, one can create a trust document (similar to a will). It contains a name whom will the property transfer after the death of the owner. This trustee will automatically get all legal rights of assets of a deceased person. But the validity of the trust document is verified by the legal authorities to confirm the trustee.
In Oklahoma Probate law, there is no inheritance tax on a deceased person’s property. Some states impose this tax, which is somehow tricky to pay-off at some stages and circumstances. However, after the American Taxpayer Relief Act of 2013, Probate laws have improved to some extent. There is no estate tax as well on some small level properties.
Moreover, the probate process has many legal implications, and it can’t be done by a layman. An attorney is appointed to do all the legal work to complete the probate process. In Oklahoma, around $3000 to $4000 are charged a fee by the attorneys on uncontested cases and the amount can be much more depending upon the complications of the case. If the owner died without leaving a will, the cost might vary as the probate gets more complicated.
After the death of a person, Oklahoma probate law looks into the matters of remaining payable bills and debts. The court bound the executor or responsible person to pay-off all the debts or bills from the remaining assets of the person. It is considered as a part of the process of assets’ legal distribution. Everything belongs to the deceased is handled by the executor under proper shelter.
Estate beneficiary must keep checking the estate executor if he is not performing duties according to the will. The beneficiary can challenge the estate executor’s activities if found notorious. In case if an executor is misusing or stealing the wealth, the beneficiary should not wait to take legal action against the executor.
Among all succession laws, this law is comprehensive and straightforward. One can seek help from an attorney if the estate is significant. In the case of a small estate or less worth property, this law has a fast route to deliver the property to the beneficiaries. The probate process in Oklahoma requires a lawyer when the case is complicated. It doesn’t keep the procedure long when the will of the deceased if loud and clear.
Under Oklahoma Probate Law, one can challenge to ‘will’ within a certain time period. If someone will try to file challenges against ‘will’ after time period expires, the action contesting ‘will’ is subject to automatic dismissal. In this regard, successors, if want to change or modify ‘will’ in any circumstances, must file the challenge to court within the time limitations
Nevertheless, in the case of fraud or proven mismanagement, the court can overrule and grant authority to file a challenge. Some particular circumstances under different inheritance laws are always considered in the eyes or justice system. It has some very extraordinary examples of special remarks by the court. There is still a way out for the rightful person in getting his/her property in law.
The legal cost of the process is mostly paid from the deceased estate. Sometimes, it is not the case if the executor of a deceased Estate doesn’t agree. It happens while contesting a ‘will.’ Then beneficiary can apply to the court for the costs of the contest. The probate is always a very tricky matter. Some states are easy to hand over to the beneficiary, but mostly family matters make the process very difficult to complete.
Under this probate law, the state appoints a personal representative in case of no claimant. Without probate, legal authorization of estate is not possible. So, the state takes care of all the matters under domestic laws. A valid claim for the deceased’s property or estate is required to run the affairs of the estate. To pay the debts, the state keeps checking on the representative. Oklahoma has hundreds of unclaimed estate matters.
All ‘wills’ in Oklahoma are probated as it is a legal process. Whether there is a valid ‘will’ or estate without a ‘will,’ the probate process is for every citizen holds property in the state. Under some circumstances, the State provides easy way-out to make the process less painful. Considering the costs, the state has given relief in the low-cost estate for probate. Mostly, decisions of the court are for the early resolution of complex matters.
Oklahoma probate law is a complete authority to administer the property of a deceased person. No one can avoid this legal implication. This law regulates the property matters and builds up the trust of the public over the authority of state laws. Every ordinary or complicated issue is being listened to and resolved in the good favor of the applicants. With responsibility, the state law is providing relief to the successors.
The process can be fast if all the parties play a responsible role during the case procedures. If all the documents from the attorney are submitted on time, and parties attend all proceedings of the court, the probate will no more be delayed. Oklahoma probate law ensures assets legal distribution to win the confidence of the public. The state court keeps all the records of claimants and parties involved to handle any challenge in the future. Keeping in view the public’s probate issues, the court remains active to take care of challenges filed against completed probate.