What Happens in Probate of a Will?
If a person has assets at the time of his or her death, these assets must pass through the probate process where the validity of the will is determined. In addition to avoiding fraud, there are several other important elements of the probate process. This article will describe several of the elements that occur during the probate process. Common Steps in the Probate Process Courts in Oklahoma tend to follow some frequent steps in the probate process, which include the following: Opening Probate. This process involves presenting a court of law with an original copy of the will along with a petition to commence the probate process. Assessments of Assets. A deceased person’s assets can include all personal and real property belonging to that person. Once all of the assets have been identified, the value of these assets must be assessed. Notification to Creditors. Creditors, or parties that the deceased individual owes money must be notified that the probate process is occurring. Litigation. If there is a dispute that exists about the value of a will, a court of law will resolve this dispute. Payment of Taxes. Before the deceased person’s assets can be distributed, the remaining assets must be [...]