If you will be inheriting money after a death, you need to know Oklahoma probate law. Probate is required after most deaths, and it can be a lengthy process. If you are counting on an inheritance to pay your bills or to maintain your lifestyle, the probate process can create major financial hardship. You need an experienced attorney who can help make the process as quick and easy as possible so you can get the money you need.
Parman & Easterday offers assistance throughout the probate process. We can guide you through the probate to ensure the inheritance is kept safe and is received by the new owners as soon as possible. We offer assistance not just to those who stand to inherit, but also to individuals chosen as executors of an estate or to those who wish to contest a will because they do not believe the will reflects the wishes of the deceased. To find out more, give us a call today at (405) 843-6100 to speak with a member of our legal team about how we can help you.
How Does Oklahoma Probate Law Impact Your Inheritance
Oklahoma probate law can create delays and potentially problems if you are waiting to inherit, since the law requires most estates to go through the probate process.
Investopedia estimates that probate can last for a year or two, and that assets are typically frozen during this time. This means you could be forced to wait months, or even years, before you see any of your inheritance.
It is not uncommon for someone to face dire financial straits when a loved one passes away. Perhaps the person who died was the primary or sole breadwinner for your family. You’ll be left worried about money with no income coming in. While an inheritance may protect you by providing money to live on, you could still have substantial financial problems as you wait for the probate process to unfold!
Inheritance Planning to Protect Loved Ones
Once someone has passed away, Oklahoma law often requires that person’s estate to go through probate, and there is little the beneficiaries or heirs can do about the long wait. While heirs or beneficiaries may want to have a lawyer to make sure the executor of a will is managing the assets and probating the estate properly, an attorney cannot force the court to push probate along any more quickly. Time must be provided for creditor claims, for notice to all potential heirs, for the valuation of the estate, and for other essential tasks during the probate process. It does not matter if you need your inheritance sooner, as the law sets forth the process that must be followed.
While those who stand to inherit cannot force probate to go faster or opt out of probating an estate that is required by Oklahoma probate law to run its course in the courts, it IS possible to avoid probate. Avoiding probate is something a person must commit to as part of his or her estate planning. The steps that must be taken to avoid probate must have been undertaken before a death occurs.
Getting Help from An Oklahoma Probate Law Attorney
Since loved ones can be left in dire straits because of Oklahoma probate law requiring probate for most estates, it should be incumbent upon you to take steps to avoid probate. Parman & Easterday can advise you on how the probate process might affect your own inheritance or the inheritance of your loved ones and help you decide if probate avoidance is an important goal for you. We also help those who are going through probate as executor of a will, heirs or beneficiaries, or any other interested parties.
To learn more about Oklahoma probate law, give us a call today at (405) 843-6100 or contact us online to speak with a member of our legal team. We know the ins-and-outs of estate planning and the probate process. We can offer you the guidance you need to protect your own financial security and to make certain the security of loved ones is assured in case of an untimely death or other tragedy. You can also join us for a free seminar to find out more about the probate process and about alternatives to probate you may wish to consider.
Since founding Parman & Easterday in 1985, Larry has led over 1,000 free, community-service education programs and helped more than 10,000 Oklahoma families go from putting off their estate plan to getting it done. His goal for every client is the same: to become the person their family calls "the one who took care of everything."
Larry is the author of three books: The Straight Shooter's Guide to Estate Planning; Estate Planning Basics; and Guiding Those Left Behind in Oklahoma. He served as Oklahoma's Secretary of State and Secretary of Commerce, and his firm is the only member of the American Academy of Estate Planning Attorneys in the state.
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