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While there are some items that need to be taken care of quickly for an Oklahoma Probate, our recommendation is always to take care of yourself first. The probate process is really just a civil lawsuit that gathers all of your loved one's assets, pays their legitimate debts, pays their taxes, and finally distributes any inheritance according to their estate plan. If a Will does not exist, then a Probate will still be required. The probate process is the same without a Will, but instead of distribution according to an estate plan, inheritance will be distributed according to Oklahoma law. Get our free guide on Probate Procedure - text PROBATE to (405) 217-4209
During the Oklahoma probate process your grief and to-do list, can be quite overwhelming and it is important to speak with a qualified Oklahoma City Probate Attorney. We can help you avoid obstacles and free time to care for yourself and your family.
Oklahoma allows for Summary Probate procedure where the total value of the estate is under $200,000. This process takes less time and under the correct situation can be a great option.
It can be difficult, but in Oklahoma some of these things have a deadline. If possible, secure the deceased's real estate and personal property as soon as possible. Then meet with us and start gathering some of the probate documents listed here.
Oklahoma no longer has an estate tax. The federal government does, but the 2018 Tax Reform Act has increased the estate tax exemption for 2018 to $11.2 million per person and the gift tax exclusion is $15,000. Most Oklahomans do not need to worry about estate taxes, but proper planning is important to pass along as much inheritance as possible.
"I regularly represent clients who serve in a fiduciary capacity, such as executors, administrators and guardians." Oklahoma City Estate Planning Attorney Stephen Cortes has over 19 years of legal experience.
As of 2017, if a person dies without a Will and their Oklahoma estate is less than $50,000, then their heirs might be able to take advantage of the Oklahoma Small Estate Affidavit.
Get our free guide on Probate Procedure - text PROBATE to (405) 217-4209