Tulsa Estate Attorney Blog
Avoiding Probate Hassles: Are Joint Tenancy Deeds the Solution?
Probate can impose lengthy delays and significant expenses on families left to settle an estate. One way to bypass this process is through a joint tenancy warranty deed, which places two or more individuals on the property deed with rights of survivorship, so ownership passes automatically at death. Another probate‑avoidance tool is a life estate: the owner retains use of the property while alive and names one or more grantees—either as joint tenants or tenants in common—to inherit the remainder interest.
Thought for a couple of seconds ```htmlProbate often imposes lengthy delays and significant fees on families settling an estate. This post explores two straightforward ways to bypass probate for real property: a joint tenancy warranty deed—which places multiple owners on title with rights of survivorship—and a life estate, allowing the owner to retain use while naming one or more beneficiaries to inherit automatically.
Probate can tie up an estate in court for months, generating legal fees and administrative delays that erode asset value and add stress for heirs. This article examines two practical, court‑free methods for transferring real property at death: joint tenancy warranty deeds and life estates. A joint tenancy warranty deed places two or more owners on title with rights of survivorship, so when one owner dies, the survivor automatically inherits the decedent’s share without probate.
Alternatively, a life estate lets the current owner retain full use and control of the property during life while naming one or more remainder beneficiaries who will receive the property interest at death. This split in interests preserves lifetime enjoyment and ensures a seamless transfer of the remainder interest, bypassing court involvement.
Key considerations—such as choosing joint tenants versus tenants in common, funding procedures, and drafting requirements—are detailed to help determine which strategy best fits different family and asset scenarios. Read the full article for an in‑depth exploration of these probate‑avoidance tools and practical guidance on implementation.
Read more »How to Avoid Probate in Oklahoma?
Learn key strategies for avoiding probate: holding property in joint tenancy with rights of survivorship, establishing a revocable living trust, and using transfer‑on‑death deeds or life estates to name successors. Read the post for a full overview of these probate‑avoidance methods. Read more »
Are Living Revocable Trusts Changeable after the Grantor’s Death in Oklahoma?
Are you considering a living revocable trust but concerned about its validity after your passing? Attorney Jason Lile explains that, by operation of the trust, a revocable trust becomes irrevocable upon your death and cannot be changed. Additionally, the successor trustee named in the trust is legally bound to act as a fiduciary and carry out your wishes to the best of their ability. To further protect your trust from alteration or forgery, Lile recommends creating self-proving documents and distributing several copies to trusted family members and representatives. Contact OklahomaWillandTrust.com for more information on estate planning and trust creation. Read more »