Oklahoma Sample Letter for Estate Administration

State:
Multi-State
Control #:
US-0717LTR
Format:
Word; 
Rich Text
Instant download

Description

This form is a sample letter in Word format covering the subject matter of the title of the form.

How to fill out Sample Letter For Estate Administration?

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FAQ

The full probate procedure in Oklahoma is used if an estate is worth over $200,000. The simplified probate procedure may be available for estates worth less than $200,000.

Under the Oklahoma small estate threshold, you may be able to use: Summary Probate Procedure: Can be used in cases where an estate is valued at less than $200,000; the decedent passed away five or more years ago; the decedent lived in another state at the time of his/her passing.

In Oklahoma, you can make a living trust to avoid probate for virtually any asset you own?real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

The steps of a typical Oklahoma probate include: Step 1: File a Petition to Open Probate Procedures. ... Step 2: Publish a Notice of Hearing on Probate. ... Step 3: Hearing on Petition to Probate. ... Step 4: Notify Creditors. ... Step 5: Notify Beneficiaries. ... Step 6: Inventory Estate. ... Step 7: Pay Debts and Taxes. ... Step 8: Finalize Taxes.

There is no statute of limitations for probate. An estate, whether there is or is not a Will, can be probated years?even decades?after death. Depending on the specific circumstances, the passage of time can make probating the estate easier or harder. That being said, you should consult an attorney as soon as possible.

The court will issue Letters of Administration if there is no will. This appoints the person who will administer the estate. The family can agree on one or more people and in most cases the Court will do what the family agrees on.

If the cumulative value of a deceased person's probate personal property (not including real estate) that would otherwise go through probate court is less than $50,000, that probate property can be obtained by the deceased person's successors by the use of a Small Estates Affidavit and thus avoid probate.

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Oklahoma Sample Letter for Estate Administration