How Long Does Probate Take in Oklahoma?
Though time-consuming and stressful for surviving family members, probate is often a necessary part of handling an estate in Oklahoma. Some circumstances allow you to bypass probate, but if the decedent did not take steps to exclude their assets from the probate process, you’ll need to push through. Luckily, you don’t have to go through this process alone. With an Oklahoma City probate attorney, you can get the support and guidance you need. Call Entz Burton & Associates at 405-773-9800 to set up a consultation with our team immediately.
There are significant differences in the probate process from state to state. If your loved one died in Oklahoma and you’re familiar with the probate requirements of your state, you may be surprised to find key differences between the two locations. While most states utilize the Uniform Probate Code, there are still variations in each state’s laws. Many states allow small estates to skip the probate process, but each state has its own idea of what a small estate is. Additionally, there are differences in fees. Some states base their probate costs on the value of the estate, while others have a flat amount no matter the estate size.
An Overview of the Probate Process
The probate process in Oklahoma involves verifying the validity of a decedent’s will if they have one, appointing a personal representative to oversee the estate, finding and valuing their assets, paying outstanding debts, and distributing assets as indicated in the will. It begins with someone filing a petition to begin the probate process, which should be accompanied by the decedent’s will if they had a will. A notice must then be given to everyone with an interest in the estate and its handling. This gives everyone a chance to bring forward potential disputes. Upon completion of the waiting period, a hearing is held and the judge names an executor. The executor receives the documentation needed to manage the estate.
From there, the executor must notify creditors of probate, notify beneficiaries of probate, inventory the estate, and pay all debts and taxes owed by the estate. They can then file taxes on the estate’s behalf and distribute the remaining assets.
The timeline for probate can vary greatly. Most estates are settled within 6 to 12 months, but there are some that fall outside this timeframe. Simple estates may be closed much more quickly, while large estates with numerous beneficiaries may take much longer. In the complex and varied landscape of probate processes, seeking the expertise of an experienced probate attorney is essential, especially in Oklahoma.
Factors Affecting Probate
Numerous factors may determine how long the probate process takes. Keep these in mind as you begin the process:
- Size and complexity: The size and complexity of the estate are a huge factor in the duration of probate. The larger an estate is, the more difficult it will be to inventory the assets, value them appropriately, and ensure that they are maintained throughout the probate process. For example, consider an estate with very few physical assets and a substantial amount of money in the decedent’s checking account. With fewer items to value and the estate largely liquid, there’s minimal work to do. In comparison, imagine an estate made up of checking accounts, retirement accounts, real estate owned jointly with multiple parties, expensive artwork that can only be properly valued by a handful of appraisal experts, and a collection of rare vehicles.
- Validity issues and disputes: If family members or beneficiaries dispute the validity of the will, the probate process can take significantly longer. The situation becomes extremely complex when there are multiple versions of the will and family members arguing over which one is the most recent.
- Outstanding debts: If the decedent left numerous unpaid debts behind when they passed, that can delay the process. The executor is left with the task of identifying the debts, contacting the debtors, and paying the debts if possible. The executor may have an especially hard time if the debts are owed to individuals, rather than banks or other financial institutions—in these situations, it may be harder to validate the debt.
- Real estate management: Real estate is often the most valuable part of a decedent’s estate. Getting it properly valued, maintaining it throughout probate, and selling or transferring it can drag out the probate process.
Choose Entz Burton & Associates for Your Probate Needs
Given the intricate factors influencing the duration of the probate process, securing the services of a skilled probate lawyer is crucial, particularly when dealing with complex estates in Oklahoma. Entz Burton & Associates, with its team of dedicated probate and estate planning lawyers, stands ready to provide the necessary assistance. Contact us at 405-773-9800 to initiate a consultation and ensure a comprehensive approach to your probate needs.
Attorney J. Michael Entz at Entz Burton & Associates is an experience lawyer in estate planning law, business formation and asset protection serving the families in Oklahoma City and Weatherford office.
