In certain instances, people entitled to inherit assets from a deceased individual might be able to do so through a small estate affidavit provided for in Oklahoma statute 58 O.S. Section 393. This approach is only available if the fair market value of the estate, less any liens and encumbrances, is not more than $50,000. If the estate is sufficiently small to qualify for the small estate affidavit, the person(s) inheriting the estate may be able to avoid the court proceedings of probating the estate.
In addition to the ability for small estates to transfer to each claiming successor by an affidavit described in 58 O.S. Section 393, Oklahoma also has a separate statute for parties claiming a severed mineral interest from a decedent. This statute is found in 16 O.S. Section 67. While certain requirements must be met before a severed mineral interest claimed through affidavit can be vested with marketable title, it is often a useful tool in instances where the severed mineral interest might not hold much current value.
In most instances, estates in Oklahoma will require court-involved probate proceedings. However, the above statutes allowing for affidavits in certain limited circumstances, provide useful alternatives to court proceedings when all of the relevant requirements are met.
The attorneys at Ball Morse Lowe have built a respected reputation over the decades for providing sophisticated counsel in complex oil, gas, and energy law matters, business law cases, transactions, estate planning, and family law matters. We take pride in assisting individuals and families with their legal concerns. Personable and responsive, our lawyers craft documents and develop strategies tailored to each client's unique goals and needs.
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I cannot thank Mr. Tommy Pfeil and Ms. Sarah Willey enough for all the support they've shown me throughout my unfortunate divorce. With all the twists and turns thrown at my situation both in my personal life, but also my military career. This team always made me feel as though my case took priority. I will forever be grateful for them and highly recommend either of them to represent you as you drudge through your specific situation. Thank you again Mr. Tommy Pfeil and Ms. Sarah Willey for everything you did on my behalf.
Ball Morse Lowe, PLLC offer exceptional knowledge in the oil and gas industry among many other things. I have worked with Senior Attorney, Chris Michael, multiple times and he continues to exceed expectations. If you are looking for a group of hard working, time efficient, diligent, and ethical attorneys, Ball Morse Lowe, PLLC and specifically Chris Michael would be a great choice.
I felt like I mattered. I felt like what I had to say was important. Glenn was thoughtful, encouraging and understanding. She helped me navigate the process and validated my thoughts about things I was not sure. Thank you Glenn!!! It was great working with you!
I turned to Ball Morse Lowe, PLCC when I needed my mother's estate probated in Oklahoma. It involved mineral rights and I live in California and my mother had not lived in OK for over 60 years. I wanted a firm that would do this correctly and be reasonable in cost. Jennifer Wright was a pleasure to work with. She and her staff were professional, knowledgeable, friendly and helpful. They made the experience of probate painless, explained things as we went along, and were clear in their expectation of what they would need from me to move the process forward. I am so glad I found them and appreciate deeply all they accomplished on my behalf.