The probate court handles the estates of the deceased, manages their debts, and distributes their assets. If an individual dies without more comprehensive estate planning, the estate will likely enter probate court. This can be a lengthy and costly process, made even more so when there is no will directing the distribution of the estate. Working with an Oklahoma City estate planning attorney can help you create an estate plan that saves your loved ones time, stress, and money.
Understanding the probate process can be helpful whether you are drafting an estate plan or you and your family are entering the beginning of the probate administration process.
The Probate Court Process in Oklahoma
Most estates pass through probate court unless the owner of the estate used estate planning techniques or the estate is under a certain value and qualifies for summary administration. The probate process will generally include the following steps:
- Filing the petition. First, a petition is filed with the probate court to begin probate proceedings. Typically, this requires a death certificate and the deceased’s will if they had one.
The petition for probate is filed where the individual lives. If probate is filed without a will but one exists, anyone with possession of the will should provide it to the estate’s executor or to the probate court. Any interested person can request the filing of the will with the probate court. - Notice of probate hearing. Once a probate petition is filed, notice is given to interested parties. This enables these parties to attend the probate hearing and file any disputes or contests to the will as they wish.
- Probate hearing. The probate hearing is set for a period of time after the petition is filed, giving interested parties time to receive the notice of the hearing. At the hearing, the probate court reviews the will, if there is one, and determines if it is enforceable.
If the will is valid, then the court will appoint the executor listed in the will. If there is no valid will or no named executor, then the court will appoint a personal representative for the estate. - Notice to creditors. The personal representative must determine the creditors of the estate and send them notice of the administration of the estate so that the creditors can make claims. The personal representative must also inform any unknown creditors, which is done through publishing a notice in the newspaper.
Creditors must submit their claims in a certain period of time in order for them to be valid. After the claims have closed, the personal representative should provide a statement to the court listing the claims, the types of claims, the names of the creditors, and whether the claim was approved or rejected. - Notice to beneficiaries. The beneficiaries of the estate must also be notified. When there is a will, this is simpler because the beneficiaries of the estate are listed. When there isn’t a will, however, the beneficiaries are those who inherit under the state’s inheritance laws.
- Estate inventory and appraisal. During the waiting period to hear from creditors, the personal representative must inventory all the assets within the estate and value them with professional appraisers appointed by the court. A list of the assets and their value is then provided to the court.
- Paying debts, expenses, and taxes. Creditor claims, expenses of the estate, and the estate’s taxes must be paid. Expenses may include medical costs, funeral and burial costs, judgment liens, and other debts. All non-exempt assets may be used to pay creditor claims and expenses.
- Asset distribution. Finally, the personal representative can distribute the remaining assets to their beneficiaries, whether this is based on the will or intestate succession law. The estate can then be closed.
Probate can be an overwhelming process for loved ones dealing with a loss. The costs of probate can also significantly cut into the benefits of the estate that were left to family members. The use of estate planning tools can help you keep your estate from entering probate.
FAQs
Q: What Are the Steps of Probate in Oklahoma?
A: The steps of probate in Oklahoma typically include:
- Filing a petition to begin probate.
- Notice of hearing to open probate.
- Probate hearing to appoint the personal representative.
- Notice sent to creditors and beneficiaries.
- Performing inventory and valuation of the estate and its assets.
- Settling any disputes or contests.
- Paying debts, expenses, and taxes.
- Receiving court approval for final distribution.
- Distributing assets to their beneficiaries.
- Closing the estate.
- Filing the final statement with the court.
Q: What Happens at a Probate Hearing in Oklahoma?
A: The initial probate hearing will typically include a review of the deceased’s will and the appointment of the individual administering the estate. If the will is deemed legally valid and states an executor, then the judge will appoint the executor named in the will.
If there is no will, the will is invalid, or the executor cannot serve as the executor, then the judge will appoint a personal representative to administer the estate. Then, that individual can begin the probate process.
Q: What Is the Average Cost of Probate in Oklahoma?
A: The average cost of probate in Oklahoma relies on the time spent in court, the court filing costs, and attorney fees. A more complex estate will be more expensive and take longer to resolve. Some court costs, like publishing notifications for creditors, require a set fee that varies based on local law. Other costs rely on the estate’s value. Attorney fees are hourly or can be flat fees that depend on the attorney’s experience, the estate’s complexity, and its estate plan.
Q: How Long Does Probate Take Without a Will in Oklahoma?
A: How long probate takes varies, and a will can make the process take more or less time, depending on the circumstances. Creditors have 30 days after the initial publication of creditor notice to file claims, and the hearing must be set at least 35 days after publication.
There may also be other required timelines. This is the minimum time needed to resolve and close an estate in probate, but the process often takes longer to manage assets and debts and other factors like their disputes.
Contact Stange Law Firm in Oklahoma City
Probate can be easier for your loved ones if you leave a will explaining your wishes. It can be even easier when the majority of your estate avoids probate entirely. Contact Stange Law Firm when you want to begin creating an estate plan.
