Small Estate Affidavit

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.

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Jon Dean Green

★★★★★

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.

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SMALL ESTATE AFFIDAVIT

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