Whether someone dies with or without leaving a Will, our probate and estate administration services will give you the guidance you need to steer your loved one’s estate through probate with minimal taxes, court costs and expense.
We serve businesses by securing payment of outstanding debts from the estates of people who die before satisfying outstanding financial obligations. Estate claims by businesses provide the mechanism by which a business can seek to have its debt satisfied out of the Decedent’s estate. Businesses who can properly establish their claims receive priority in being paid prior to any distributions to the decedent’s family. On the other hand, businesses that are not properly represented in making their claims may face losing any potential for recovery of the debt owed by the Decedent.
Probate is the court procedure by which a will is proved to be valid or invalid and the legal process wherein the estate of a decedent is administered. Generally, the Oklahoma probate process involves collecting a decedent's assets, liquidating liabilities, paying necessary taxes, and distributing property to heirs. These activities are carried out by the personal representative, executor or administrator of the estate, usually under the supervision of the probate court and in most cases with the guidance of an Oklahoma probate lawyer.
Once a friend or family members has died in Oklahoma, that person’s estate must generally go through the probate process in order to properly administer the estate. The probate administration of a decedent’s estate involves identifying the estate assets, paying any debts owed by the decedent at the time of death, and distributing the remaining assets to the decedent’s heirs or beneficiaries under a will. Likewise, the administration of the estate involves paying any taxes that may be owed as a result of the death, pursing any claims against third parties that are owed to the estate, and determining the identity of the decedent’s heirs if he died without leaving a Will.
In many states, the probate process is costly and time-consuming, which has necessitated some of the efforts to avoid probate. Although the probate process in Oklahoma is relatively straight forward, a couple of mechanisms exist which will assist a client in avoiding probate altogether, including, the Revocable Living Trust and payable on death or joint tenancy ownership of accounts and titles to property.