Probate Attorney Oklahoma City

What Is Estate Probate?

The process of probating a will, or administering the estate in which no will was written, can be difficult and costly. According to the Legal Dictionary, an estate is "a deceased person's legal and real property."

In Oklahoma, there are two types of wills: revocable and irrevocable. A revocable will is used to distribute a person's assets after death but can be changed by the author (or testator) at any time. On the other hand, irrevocable wills are not changeable.

Both types include provisions that are designed to assist with settling your affairs with your loved ones. The probate process can be complex and expensive. It does require a probate attorney who is well-versed with the process, as well as court costs that can include filing fees, court reporter charges, and court costs.

The following situations may warrant probate:

• The deceased person had debts when he or she died

• A surviving spouse or dependent survives death

• The deceased person owned real estate in more than one county

If you are executor, you will need to collect and organize the following:

• Letters of administration, which is a document showing that the probate court has granted permission for someone to administer the estate

• Marital status documents

• Death certificates

• Marriage licenses

• Accountings showing the date, title, value, and location of assets listed in the will.

If you are the executor, then you must be available to handle requests for information from beneficiaries of the will and other interested parties. Beneficiaries of the will can request information regarding date, title, value, location of assets listed in the will, etc., listing each item requested after their name.

When do I need an estate probate attorney?

If you have been chosen as the Executor or Administrator of an estate, a probate attorney can help you avoid any liability and issues with probate court. If someone has died without a will, this is referred to as dying "intestate" and the rules determining how assets are distributed fall under the guidelines of probate where an attorney would be required.

There are many benefits when choosing to have your loved one's assets distributed by a probate attorney.

A probate lawyer will help you to:

Dispose of the decedent's personal property and valuables as per the terms of the Will or intestacy laws.

Annotate all heirship documents, records, and accounts so that you can distribute your loved one's assets in a timely and orderly fashion.

Limiting your liability as the Executor or Administrator of the estate by qualifying for probate property tax exemptions, federally insured bank accounts, and other critical estate planning documents.

Will also help you to understand how probate works in Oklahoma to learn about deadlines and what is needed during this time period.

Avoid any complications with regard to the estate's property, cash, and assets.

Minimize the estate income taxes that will be owed to the IRS for your loved one's final tax return.

Make sure that your loved one's debts are paid as per the terms of your loved one's Will or intestacy laws.

Protect your family by appointing specific shares of inheritance

What should I expect should my probate go to court?

It generally isn't required for your probate to go to court if you keep your finances uncomplicated and your estate is relatively small—say, $50,000 or less in cash, property, and debts. However, without a will, an attorney will be needed to oversee the process to ensure that things go relatively smooth and avoid unnecessary stress that can come from potentially going to trial.

Legal Consequences of probate court actions

The legal status of your estate and the rights of heirs, beneficiaries, creditors, and others are affected by the court's decision at probate. Missteps can lead to years of costly litigation—and upset your final wishes.

Reduce the risk of the probate going to court by:

• Using a revocable living trust as your main estate-planning tool instead of a will.

• Holding title to the property in joint tenancy with rights of survivorship or as community property with right of survivorship.

• Providing for a simple estate plan using beneficiary designations for retirement accounts and life insurance policies, with a few special gifts to specific heirs.

A good estate plan usually includes some combination of wills, living trusts, powers of attorney, advanced directives for health care, and beneficiary designations.

If you plan your estate carefully, keep good records, and name someone you trust as executor who will cooperate with other family members, there's little reason for it to go beyond a simple probate.