How can I transfer real estate without probate?

Transferring real estate without probate in Oklahoma can be done in a variety of ways. One way is to have ownership of the property signed over to someone else while you are alive. This can be done by creating a deed that makes the person you are transferring the ownership to the new owner. This deed will need to be signed and notarized. Another way to transfer real estate without probate is to have the property owned by more than one person. This property is typically owned in “joint tenancy” and is commonly referred to as “joint tenancy with the right of survivorship.” When the initial owner of the property dies, the other owner automatically acquires ownership. A third way to transfer real estate without probate is to create a living trust. A living trust is an estate-planning tool in which assets like real estate are placed into a trust. While you are alive, you can serve as the trustee and beneficiary of the living trust. After you pass away, a successor trustee will take over and manage the assets in the trust according to your wishes. Finally, you can transfer real estate without probate by giving gifts during your lifetime. This method is most commonly used when transferring small amounts of real estate, such as a vacation home. Gifts are subject to annual limits and must be documented. Overall, there are several ways to transfer real estate without probate in Oklahoma. Depending on the number of assets and other factors, one or more of these methods might be better suited for your needs. It is best to consult with an experienced estate planning attorney to discuss the best options available for your situation.

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How can I transfer real estate without probate?

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