To transfer a deed when parents die often times involves filing a probate in Oklahoma. Many times, parents have a revocable transfer on death deed or a trust that keeps the family home out of the probate process. However, if your parents Estate Planning did not get this done, you would need to visit the local county assessor’s office in Oklahoma and follow the probate procedure to change the name on the deed from your parents to yours.
Property Required to Go Through Probate Court.
Property of a deceased is classified as probate or non-probate. Probate property involves all property owned singly in the deceased’s name. This is the case when the property does not name a beneficiary or a transfer on death. For instance, solely owned investment and bank accounts or real estate fall under probate properties and are required to be processed by the probate court.
Understanding Oklahoma Probate Process.
In Oklahoma, the district court judge will appoint a personal representative for probating the estate if the deceased dies without a will or the will doesn’t name and Executor. This responsible party is appointed at a hearing for the sole purpose of carrying out certain duties. The personal representative can be an adult child or spouse or a trust company or bank. Generally, personal representative named by the deceased in their will is usually appointed by the judge.
The district court will consider the closest living relative if nobody is named in the will. Duties and function of a personal representative can be outlined as below:
– To protect, identify, take possession and conserve all personal and real property
· To collect and receive all payments, rents, and debt, including dividends, interest, notes, and claims
· To determine the ages, names, degree of relationship, and residence of all possible heirs
· To identify and pay any outstanding tax liabilities or debts
· To carry out the district court’s orders and distribute property to all intended parties
The probate process in Oklahoma requires preparation and filing of several legal documents. It also involves publishing newspaper notices, securing property appraisals, holding court hearings, and preparing income tax returns (interim and final) among others.
The probate Judge of the Oklahoma district court supervises these proceedings. All actions undertaken by the appointed personal representative can be scrutinized and disapproved by the judge. The judge makes all determinations including the payment of fees, debts, and final distribution of assets.
Understanding Oklahoma Inheritance Law.
The amount of money inherited by children from deceased parents is based on two factors:
· Are the children the only surviving heirs?
· Are they the children of the surviving spouse?
The estate will be evenly split between all children and the spouse if the answer to both the questions is a yes. The children, in all other situations, will be entitled to 50% of the estate as well as 50% of all jointly acquired property.
Stepchildren or foster children of the deceased are usually not included in the intestate estate regardless of the time they spend living in the house. However, if the parents adopt the child, they acquire full inheritance rights similar to that of a biological child.
Free Consultation With a Tulsa Oklahoma Probate Attorney.
To transfer a deed when parents die might require the help of a probate lawyer. The Estate Planning lawyers at Kania Law have decades of experience and are prepared to help you with all your legal needs. Different problems require different solutions and are not always a one size fits all legal matter. Regardless of its a contested probate or not we can help. Get a free consultation at 918-743-2233 or filling out this online form.