An Overview Of Real Estate In Probate
When someone passes away, their assets, including real estate, may go through the probate process. In Oklahoma, probate ensures that a deceased person’s property is properly distributed according to their will or state law.
The laws that govern real estate matters during the probate process are nuanced. The attorneys at Helton Law Firm have amassed decades of experience in guiding those in Tulsa and nearby Oklahoma communities through this process. We are here to help ensure probate goes as smoothly as possible for you and your loved ones.
When Does Real Estate Go Through Probate?
All real estate (no matter the value) must go through probate when it is solely owned by the deceased and no designated beneficiaries are listed. This can include homes, land or any other property that was not included in a trust or covered by a Transfer on Death deed (TOD deed).
Avoiding Probate For Real Estate
To help prevent real estate from passing through the probate process, there are two primary methods:
- Trusts: Establishing a trust allows you to designate beneficiaries for your real estate. This can keep the property out of probate and facilitate a seamless transfer to your heirs. Trusts also offer privacy, as they do not require court involvement. Our experienced attorneys can explain trusts in more detail for you.
- Transfer on Death deeds (TOD Deeds): A TOD deed, also known as a beneficiary deed, allows the property owner to name a beneficiary who will receive the property upon their death. A TOD deed is simpler and more cost-effective than establishing trusts. However, trusts can offer more extensive protections for your assets.
A skilled lawyer at Helton Law Firm can help you weigh the advantages and disadvantages of each option.
Call Us Today To Protect Your Assets
Navigating probate or planning to avoid it can be complex. We are here to guide you through different strategies that protect your real estate and other assets, ensuring they are passed on to the right people. Call us today in Tulsa at 918-928-8941 or fill out our online contact form to secure peace of mind and professional representation.