Probate in Oklahoma is the judicial process of determining who is entitled to receive the deceased person’s property. Whether the person died with a valid will or died without a will, their estate must go through probate in Oklahoma. This is an important process because it ensures that the person’s property is properly distributed to those who are entitled to receive it.
Cost of Filing Probate in Oklahoma
Probate can be costly and time consuming. The expenses will vary depending on each case, but one can expect to spend around $3,000 or more on attorney fees alone depending on the complexity of the Estate. Other costs include:
- Filing fee for the petition
- Notice publication fee
- Fees to the personal representative
- Accounting fees
- Fees for appraisal
- Personal representative bond fees
There are other various costs that may be incurred throughout the process, such as storage and shipping costs for personal property. In addition, it can be very tedious and could last well over several months. However, this is not to say that probate should be avoided at all costs. Each estate is unique and sometimes the best way to distribute the assets is through the Probate Court. Most frustrations typically arise from being unfamiliar with the process. Hiring an attorney who is familiar with this area of the law is critical to your success in distributing the property of the estate.
Can I Avoid Probate
Yes, probate can be avoided in some cases. For instance, smaller estates can avoid the lengthier procedure and instead go through what is called Summary Probate. This is basically a shortened version of a full-scale probate. This special procedure only takes around 60 to 70 days. You may qualify to use it if:
- The estate is less than or equal to $200,000.00;
- The decedent has been deceased for over 5 years; or
- The decedent lived in another jurisdiction at the time of death. (Tit. 58
Another effective way to avoid this legal process is by transferring your property through living trusts and other will substitutes.
Does All Property Need to Be Probated
When a person passes away not all of their property needs to go through the probate process. Application of the process depends on many factors. One such factor is how the asset is titled. An example is a personas home. If the Deed to the property is held by joint tenancy it passes without probate automatically upon the persons death. Property held in an IRA or Bank accounts can also avoid probate depending on whether or not beneficiary designations have been made.
Free Consultation Tulsa Probate Lawyers
When a person loses a loved one handling the estate is no easy task. Not only do you have to process the loved-ones death itself you’ve got to deal with other family members and the assets that have been left behind. Our Tulsa Oklahoma Probate Attorneys understand this process can be complicated, and want to help. We can save you time and expenses by assisting you through each step of the legal process. Call today for a free consultation regarding your estate.