Oklahoma Probate

#5 Way to avoid Oklahoma probate after death – Vehicles/Boats/Motors

The Fifth Mechanism to Avoid Oklahoma Probate after Death: Vehicles, Boats, Motors

This is the fifth article in the series 6 Ways to Avoid Oklahoma Probate after Death.  Although these may seem like small, somewhat less significant items, when you need to change the title on a vehicle, boat or motor, this process is very useful.

With an Oklahoma Last Will and Testament

If the person who passed away had an Oklahoma Last Will and Testament, then you can use the Oklahoma Tax Commission – Motor Vehicle Division Small Estate Affidavit, which you find here, among other places.

Without an Oklahoma Last Will and Testament

When the person who passed away did not leave a Last Will and Testament, you will need to use the No Administrator Affidavit, made available by the Motor Vehicle Division of the Oklahoma Tax Commission through tag agencies across the state.  By completing the required form (found here among other places here) and supplying a certified copy of the death certificate, the survivor may obtain title to a vehicle, boat or outboard motor where there is no probate or administration proceeding and no other person would have a prior right to have the property.


I provide Oklahoma probate and estate planning services in Edmond and throughout the Oklahoma City Metro area.  If you want to discuss this article or anything about probate or transfer of assets of please feel free to email me at shawn@cazesroberts.com.

Posted by Shawn Roberts in Blogposts, Oklahoma Probate

#4 Way to avoid Oklahoma probate after death – Government death benefits

#4 Way to Avoid Probate after Death: Government Death Benefits

This is the third article in the series 6 Ways to Avoid Oklahoma Probate after Death.
Yes, there is a government angle to this series also!  The amount of money which you can recover under this concept, affidavits may be used by the survivors to obtain death benefits from the Oklahoma Public Employees Retirement System, the Oklahoma Teachers Retirement System and the Oklahoma Firefighters Pension and Retirement System.
Once you have complied with terms of the relevant statutes, which includes submitting an affidavit by the claimant, and a corroborating affidavit from an individual who was familiar with the affairs of the decedent, the Oklahoma government government agency may, in its discretion, pay out the death benefit not to exceed the amount permitted.  You will be required to provide proof of payment of debts of the decedent, but the government agency is not required to have proof the payment of any estate tax liability.

I  provide probate and Trusts and Will in Edmond, Oklahoma City and the Metro area.  If you want to discuss this article or anything about probate or transfer of assets of please feel free to email me at sjr@shawnjroberts.com.

Posted by Shawn Roberts in Blogposts, Oklahoma Probate

#3 Way to avoid Oklahoma probate after death – Affidavit of Delivery of Personal Property

Do you need to transfer stock or a bank account owned by a relative who has passed away?

If it is Oklahoma property, this might be the solution for you.

This is the fourth article in the series 6 Ways to Avoid Oklahoma Probate after Death.  Oklahoma law has another type small estate affidavit procedure that is focused on collecting personal property other than bank account funds.  The useful thing about this process is its broad coverage of various types of personal property.  It includes: “tangible personal property or an instrument evidencing a debt, obligation, stock, chose in action, or stock bond.”

The rightful owner of personal property as a result of the death of the decedent may deliver to the holder an affidavit setting forth the information required by 58 O.S. 2001 § 393 as follows:

  1. Fair market value, less liens and encumbrances, of the property located in Oklahoma does not exceed $50,000.00.
  2. There has been no petition for appointment of a personal representative.
  3. The persons entitled to payment or delivery and in what proportion.
  4. All the estate’s taxes and debts have been paid or otherwise provided for or are barred by a statute of limitations.

Once the rightful owner has complied with the statute, the holder of the personal property must deliver the property.

 

I provide probate and estate planning services in Edmond, Oklahoma City and the Metro area.  If you want to discuss this article or anything about probate or transfer of assets of please feel free to email me at sjr@shawnjroberts.com.

Posted by Shawn Roberts in Blogposts, Oklahoma Probate

#2 Way to Avoid Oklahoma Probate after death – life estate or joint tenancy

#2 Way to avoid Oklahoma probate after death: Joint Tenancy or Life Estate

This is the second article in the series 6 Ways to Avoid Oklahoma Probate after Death.  In Oklahoma, if you hold real property in joint tenancy with any person, the law allows you to change the title on the property after that person has died, without going into probate.

Following the steps laid out in 58 O.S. 2001 § 912, the surviving interest holder may file an affidavit which establishes for legal purposes a record the death of the deceased joint tenant. The document that is typically filed is the “Affidavit of Surviving Joint Tentant.”  You can see a copy of the Affidavit here.

The Affidavit of Surviving Joint is filed with the county clerk and is signed by the either (1) surviving joint tenant, (2) life tenant, (3) remainderman, or the personal representative. You also attach a certified copy of the death certificate to establish that the person has died.

 

I provide probate and estate planning services in Edmond, Oklahoma City and the Metro area.  If you want to discuss this article or anything about probate or transfer of assets of please feel free to email me at sjr@shawnjroberts.com.

Posted by Shawn Roberts in Blogposts, Oklahoma Probate

#1 Way to avoid Oklahoma probate after death – Small Estate Affidavit

 

This is the first in series of 6 short articles on 6 Ways to avoid Oklahoma probate after death.

#1 Way to avoid Oklahoma probate after death: The Small Estate Affidavit for bank accounts

A probate proceeding is a court-administered collection and distribution of person’s property after they die. Probate can be with an Oklahoma last will and testament or without a last will and testament (intestate, through the laws of the State of Oklahoma). Most people want to avoid probate due to time and expense, some people set up revocable living trusts that help work around the probate process.

Probate is most often required when title to real property has to be changed or a bank account is not set up to automatically transfer to someone on death. For bank accounts, credit unions and savings and loan associations, Oklahoma law provides an opportunity to work around probate.

If the amount in the account is $50,000.00, heirs can access the funds, without probate, by providing affidavits to the bank. (Title 6 O.S. sec. 906).  This statute says:

When a deposit has been made in a bank or credit union in the name of a sole individual without designation of a payable-on-death beneficiary, upon the death of the sole owner of the account if the amount of the aggregate deposits held in single ownership accounts in the name of the deceased individual is Fifty Thousand Dollars ($50,000.00) or less, the bank or credit union may transfer the funds to the known heirs of the deceased upon receipt of an affidavit sworn to by the known heirs of the deceased which establishes jurisdiction and relationship and states that the owner of the account left no will. The affidavit shall be sworn to and signed by the known heirs of the deceased and the same shall swear that the facts set forth in the affidavit establishing jurisdiction, heirship and intestacy are true and correct.

A couple of items to remember from the statute:

  1. The bank is not required to allow the transfer;
  2. The heirs must sign an affidavit that tells the bank that they are the people entitled to receive the funds ( if it turns the people who sign the affidavit are not the one entitled to receive the funds, then they will be required to pay the bank back the money);
  3. Generally, this option works only when the decedent left no last Will and Testament.

 

Posted by Shawn Roberts in Blogposts, Oklahoma Probate