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- The affidavit can be used whether the decedent had a last will and testament or not. But the total value of the Oklahoma estate of the decedent must be under $50,000. An “estate,” as used in the statute, does not include any property that would not be subject to probate.
www.okbar.org/barjournal/february-2021/2021-stewart-jameel-2/When and How to Use Oklahoma’s Affidavits Instead of Probate
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Oklahoma law allows families to transfer the assets of a deceased loved one without a probate in limited situations. If you find your client’s situation meets the right criteria, you can save them money and stress by drafting an affidavit of tangible personal property, affidavit of death and heirship or an affidavit of known heirs.
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As long as the decedent’s personal property within the state of Oklahoma, minus liens and encumbrances, is $50,000 or less, the heirs can transfer the property with an affidavit. Under Oklahoma law, heirs can use an affidavit of tangible personal property 12 or an affidavit of known heirs 13 and provide the affidavit and proof of death of the ...
Basic Probate Procedures. By Sheila Southard. Vitalii Vodolazskyi | #428768186 | stock.adobe.com. A client has come to you because a family member, a resident of Oklahoma, has recently passed away owning real or personal property in Oklahoma that will require a probate proceeding to change ownership.
May 19, 2022 · In Oklahoma, a small estate affidavit is used in certain circumstances to allow heirs to avoid the probate procedure. This affidavit is a probate form that is a legal document where you swear under the penalty of law that you are entitled to receive a specific asset from the decedent’s estate.
Sep 21, 2023 · For personal property valued at $20,000 or less, a simple affidavit can be used to transfer the property to the beneficiaries without going through probate, provided that no other probate proceedings have commenced.
One alternative to probate can be the Oklahoma Small Estate Affidavit. Currently, this small estate affidavit Oklahoma form can be used for small estates under $50,000. With no legal representation, it requires less paperwork than probating a Last Will or administering a trust.
Affidavit of Small Estate in Oklahoma allows for quick asset distribution for estates under $50,000. Consult a Tulsa probate attorney for guidance.