Probate is the legal process involving validating a will and settling an estate. The executor of the estate must ensure all debts and taxes are paid before distributing assets among the designated beneficiaries.
It can be challenging and stressful for the average person to navigate considering the stringent timelines to file necessary paperwork and the potential for court appearances, not to mention interpreting the legal verbiage to accomplish the tasks. It can be an arduous, prolonged experience.
A Norman, Oklahoma, probate attorney frees families of these burdens, allowing them to focus on their grief and planning their loved one’s services.
This professional is state-licensed to act as either an advisor to the executor if one was assigned or the beneficiaries as they settle the estate. Some take a more hands-on approach, helping the executor understand and satisfy the estate debts and inventory and distribute the assets and inheritances.
Probate attorneys and estate lawyers are often confused since both practice under estate law, but these are distinct roles. A probate lawyer settles an estate after the loss of a loved one. An estate lawyer helps individuals plan their estate; probate lawyers can act in this capacity.
FAQs Relating to the Oklahoma Probate Process
There are countless probate lawyers in the Oklahoma market. Finding the best match in Norman requires research to narrow choices based on reputation, experience, successful probate cases, and competitive fees.
Once you narrow the choices, it’s important to set up a consult to assess the lawyer’s knowledge and expertise as it pertains to your specific circumstances.
After addressing your questions and concerns, you should leave feeling like the attorney will prioritize your best interests and handle the estate capably. Visit Essential Tips for Executors Working With a Probate Lawyer for tips if considering working with a probate attorney. Let’s explore a few general FAQs associated with the probate process.
Understanding probate in Oklahoma
Probate is a legal process in which a decedent’s assets or their estate are inventoried and distributed to their successors or heirs. Depending on your jurisdiction, probate courts handle matters associated with estates, wills, conservatorships, and guardianships.
Probate and its eventual outcome depend on whether there was a valid will at the time of death. Probate begins at the time of death, at which point a petition is filed with the court to have probate opened.
An executor or personal representative will either be named in the will or assigned by the probate judge. Once the executor is approved, they will follow these steps:
1. Beneficiary notification.
2. A notification is published to reach any creditors.
3. The estate is inventoried, including personal effects, property, banking and retirement accounts, and investments.
4. Assets are secured.
A will
When a decedent has a will, it must be filed with the court and authenticated before the terms are carried out. This involves a hearing with parties named in the will as well as those not named but who would have inherited were it not for the will.
Interested parties attending this hearing have the opportunity to contest the will. When there are no challenges, the executor is ordered to pay the estate’s debts in full. The remaining assets will be distributed to the beneficiaries according to the terms of the will.
If someone challenges the will, another hearing is likely in which the individual must prove the document’s invalidity.
Challenges can arise when it’s believed that a more recent one will exist to invalidate the one presented to the court. A will that is deemed invalid will lead to the court applying the state’s intestacy laws unless another will be presented and validated.
No will
Decedents without a will are said to be intestate. That isn’t to imply that their assets won’t be inherited. Instead, these assets will pass through the state’s intestacy laws to the beneficiaries.
The executor must locate all the decedent’s assets and notify and pay any creditors before the probate judge distributes the estate to the beneficiaries with the state’s intestacy laws applied.
The end stage
Once the descendant's debts are satisfied and the remaining assets are distributed, the executor must submit records and receipts of each transaction to the court. The executor will then request that the court close the estate and release them from their position as executor.
Final Thought
Navigating the complexities of the probate process is time-intensive and stressful for executors. As the individual responsible for carrying out the decedent's last wishes, you must ensure that all assets are accurately calculated, financial liabilities are settled, and the remaining assets are properly distributed to the designated beneficiaries.
The timeline for probate can range from a few months up to a few years. Many executors turn to a probate attorney for their extensive knowledge and expertise. Read here for details on probate. The professional offers advice and guidance for a smooth and sometimes swifter outcome.
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