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Probate is the legal process by which a person’s estate is managed and distributed after death. The probate process includes identifying assets, paying taxes, and determining how property will be distributed to the surviving heirs. Probate can be a lengthy process and includes accounting of funds, filing documents with the court, and publishing notices in the newspaper.
In Oklahoma, there are two other types of probate proceedings aside from regular probate that can often be completed much faster than traditional probate: Ancillary and Summary Administration.
Ancillary probate is necessary when someone who owns property in Oklahoma dies in another state. Ancillary probate can be thought of as supplementing the probate process done in the state of death, called “domiciliary probate.” The ancillary probate process requires reviewing the will and probate documents from the domiciliary probate proceedings and must be filed in the county where the property is located.
Summary administration proceedings are generally reserved for smaller estates or the estates of people who died more than five years before. In summary administration, the court forgoes the standard probate proceedings in favor of a simpler and often quicker process.
Dealing with the loss of a loved one can be a difficult and stressful experience. The professional attorneys at Hartsfield & Egbert Law Firm have assisted hundreds of clients through the probate process in Oklahoma and are ready to help make this tough time just a little bit easier.
No matter your net worth, it is important to have a basic plan for your Estate in place to limit tax liability, preserve family wealth and reduce the burden on your loved ones.
At one time, Estate Planning meant having a Will that would go through probate. However, times have changed. The Estate Planning attorneys at the Hartsfield & Egbert Law Firm can assist clients with all aspects of Estate Planning including the preparation of a Last Will and Testament, a Power of Attorney, a Living Will and a Trust. Without the proper planning and documents in place, the State could determine what will happen to your assets. The preparation of the appropriate documents ensures that our clients will maintain control of their financial and personal affairs while they are well and competent, and can leave instructions for the future.
Proper Estate Planning includes planning for loved ones, but additionally planning for retirement, business planning and planning for your care as you age. Planning for your later years or the succession of your business is essential for a comfortable retirement and the successful transition of your business ownership.
The attorneys at Hartsfield & Egbert Law firm can help you develop an Estate Plan that can reduce your taxes and be more economical for your beneficiaries in the long run. The attorneys at Hartsfield & Egbert Law Firm can provide you with plans for your future to protect your retirement, assets, business and family. If you are interested in learning more about Estate Planning, call the experienced attorneys at the Hartsfield & Egbert Law Firm today.