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When to Use Oklahoma’s Affidavit of Tangible Personal Property Instead of Probate

When to Use Oklahoma’s Affidavit of Tangible Personal Property Instead of Probate

By Solid Serenity Legal Solutions

One of the hardest things we face in our lives is the death of a loved one. The grief and stress associated with that loss can be overwhelming.

Adding the costs, complexities, and pressure of going to Court for probate can be crippling. Luckily, Oklahoma’s legislators recognized the pain this process can bring to families. So, they passed a law allowing Oklahoma families to avoid probate for certain estates.

Today we’ll show you when to use Oklahoma’s Affidavit of Tangible Personal Property instead of probate.

(1) Time Frame

Oklahoma’s statute allowing for an Affidavit of Tangible Personal Property can be found at 58 O.S. 393. The law allows heirs, 10 or more days after a loved one has passed, to submit an Affidavit of Tangible Personal Property to anyone who owes the deceased money or has the deceased’s personal property in their possession.

Personal property does not include real property. But, the statute does allow for an Affidavit of Death and Heirship to be filed with the County Clerk to prove ownership of severed mineral interests within that County.

(2) Value of the Estate

The total value of property owned by the deceased within the State, and subject to distribution through a Will or by intestate succession (no estate plan in place) cannot be more than $50,000.

(3) Requirements for the Affidavit

In order for the Affidavit to be valid, there must not be a pending probate proceeding filed.

The Affidavit must set forth the heirs entitled to distribution and the amount each heir is entitled to receive and be signed by the heirs. And, the Affidavit must state that all debts and taxes of the Estate have been paid, negotiated, or are otherwise barred.

(4) Fraudulent Affidavits

Though these Affidavits can be submitted without an attorney, it is worth your while to confirm your understanding of the distributions and law with an attorney. The statute states those submitting false affidavits can be subject to imprisonment and fines.

If you think an Affidavit of Tangible Personal Property fits your situation, book an appointment for a consultation with us for help.

For more information on probate click here.

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