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A simplified probate process, known as summary probate, is applicable when the total value of the estate is below $200,000.
This expedited process available to residents in Nichols Hills, Oklahoma requires at least 45 days to complete. Typically, the process is finalized within a few months, subject to the court's availability. This method offers an efficient solution for smaller estates where there's no necessity to liquidate real estate and where family members maintain harmony throughout the process.
For the initiation of summary probate proceedings, it's mandatory for all heirs to consent in writing to the streamlined administration. They do this before the Nichols Hills Probate even begins by submitting their consents to an initial Probate Petition. Should there be any dissent among the heirs, the option for summary administration is off the table.
Disagreements among beneficiaries or inability to reach consensus on probate matters often prompts the court to mandate a transition to a regular probate proceeding.
The sale of real estate is not permitted under summary probate due to the determination of legal heirs only occurring at the final hearing. The transfer of property titles, necessitating unanimous written consent from all parties, is impossible if the identification of heirs is pending until the probate's conclusion.
In essence, summary probate serves effectively in situations where the estate's value is modest, anticipated family disputes are non-existent, and there is no requirement to dispose of real estate assets.
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Oklahoma City, OK, 73118
United States
405-213-0856
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