It would be nice and much easier for everyone if this blog post was one sentence long and simply told you exactly how long probate takes in Oklahoma. However, probate is an extensive process that depends on several factors. How long the probate process will take depends on the complexity of the probate estate and the ease of the litigation involved regarding asset distribution and the payment of debts.
Still, there are certain factors you can look out for to determine approximately how long and/or complex your personal probate process is going to be. There also may be estate planning tools that you can use to avoid probate as well. Not all estates require probate - in fact, depending on your circumstances, you may be able to qualify to avoid probate because you have a small estate.
If you have questions about estate planning, how to avoid probate, or the amount of time the probate proceeding may take, schedule a free consultation with the estate planning attorneys of Ball Morse Lowe law firm!
There are several factors involved that affect the amount of time that it could take to probate an estate. One factor that no one has any control over is the probate court itself. How long will it take for the probate court to set a hearing date? Of course, if you meet the state law definition of a small estate, you can avoid probate. A living trust is another option that can help you shorten or avoid the probate process.
Then, there are factors that relate directly to estate assets.
There are multiple issues involved to close the estate. The more issues there are involved, the greater the amount of time the entire probate proceeding can take.
Probate laws are complex. It can take a lot of work and time for the personal representative to complete all of the steps and close the estate according to Oklahoma state law.
The probate process is the judicial process of determining the ownership of estate assets after someone’s death. These assets may be real estate, jewelry, bank accounts, cash, stocks, intellectual property, business interests, or even items of sentimental value. Many people are under the impression that if someone has a will, their belongings will automatically be dispersed based on that. However, it’s rarely that simple. The probate process helps determine the validity of the will. It also helps repay creditors to the extent possible, using estate assets as required by state law.
The probate process begins when a personal representative or other interested party files a will, if the decedent (the person who died) had one, along with a petition for probate with the district probate court. Then, the court will schedule a hearing and notice must be given to all heirs and any beneficiaries listed in the will.
Probate is necessary to pass title to assets and finalize the decedent’s affairs. In order for a will to have any effect, it must be admitted to probate by the court. As mentioned, the probate process allows a personal representative to pay the final bills, transfer title to real and personal property, and disburse estate assets. Other duties include:
Do I need a Trust or Will?
Do I Really Need a Probate Attorney?
Oklahoma state law does not require that the personal representative or an heir hire a probate attorney. However, retaining a lawyer is strongly recommended. Probate laws are extremely complex and technical in nature. If the personal representative makes even small errors, the title may not pass correctly or the process may have to start over, which can create a lot of problems for the heirs and beneficiaries of the will.
The passing of a loved one is never an easy thing to go through and adding the workload and stress of probate to your own plate after such an event is not often wise unless you have legal training. The personal representative should also have a responsibility to do the right thing for the best interests of everyone involved, and failure to do so can result in legal liability.
Heirs also have the right to hire a probate attorney if they would be like to be represented in probate court.
So How Long Will Probate Take?
In a perfect world, every probate proceeding would take between four and six months. However, there are so many factors involved that it sometimes takes much longer for everything to settle. Depending on the representative, the creditors, the probate court, and everyone else involved, the probate process can take much longer.
The size of the estate is a key factor in the amount of time probate will take. It also plays a direct part in how expensive it will be and the level of expertise it will require to sort out the necessary documents and administer and close the estate.
There are potential ways to shorten the process and reduce costs, such as the use of a living trust. However, whether other estate planning tools are right for you depends on your circumstances.
To learn more about estate planning and how long the Oklahoma probate process takes, schedule your free consultation with the probate attorneys of Ball Morse Lowe now.