#5 Way to avoid probate after death – Vehicles/Boats/Motors
#5 Way to Avoid Probate after Death: Vehicles, Boats, Motors
Although these may seem like small, somewhat less significant items, when you need to change title on a vehicle, boat or motor, this process is very useful.
The “No Administrator Affidavit” is made available by the Motor Vehicle Division of the Oklahoma Tax Commission through tag agencies across the state. By completing the require form (found 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 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.
#4 Way to avoid probate after death – Government death benefits
#4 Way to Avoid Probate after Death: Government Death Benefits
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.
#3 Way to avoid probate after death – Affidavit>Delivery>Personal Property
#3 Way to Avoid Probate after Death: Affidavit of Delivery of Personal Property
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:
- Fair market value, less liens and encumbrances, of the property located in Oklahoma does not exceed $10,000.
- There has been no petition for appointment of a personal representative.
- The persons entitled to payment or delivery and in what proportion.
- 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.
#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 fifth 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.
#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 a Will or without a Will. Most people want to avoid probate due to time and expense, some people set up Living Trust 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, Oklahoma law provides some opportunity to work around probate.
Up until now, if the amount in the bank account was $5,000.00 or less, heirs could access the funds, without probate, by providing affidavits to the bank. The affidavits tell the bank that you are the person entitled to receive the funds and that if it turns you are not person, you will pay the bank back the money. The good news is that in a law that takes effect November 1, 2011, the amount goes up to $20,000.00.
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.
