The Oklahoma Bar Journal November 2024

A holographic will is one that is entirely written, dated and signed by the testator’s own hand; is sub ject to no other form; can be made in or out of this state; and does not require witnesses. 26 The court’s order will reflect that the above facts have been established and will admit the will to probate or, if intestate, will order the administration of the estate, identify the heirs, legatees and devisees of the decedent, issue letters testamentary or letters of administration to the person found to be entitled to same upon that person executing the oath of office 27 and set or waive bond. A person who is not a resident of Oklahoma may serve as the PR of an estate in Oklahoma but must first appoint an agent for service of process who resides in the county of the probate proceeding. 28 Such appointment must be filed with the court before letters can be issued to the PR. 29 LETTERS Upon entering its order admit ting a will to probate, the court will issue letters testamentary to the person(s) named in the will to serve. 30 If no one is named in the will to serve as PR or if the person named fails to apply for letters, declines to serve or is incompe tent, letters of administration with will annexed will be issued. 31 If the decedent died without a will, letters of administration will be issued. The statutes provide forms for each of these letters. 32 The PR is required to execute an oath, which may be signed in front of a notary public prior to the issuance of the letters or by the judge at the time the letters are issued. 33 Most often, the letters and oath are combined in one document.

GENERAL INVENTORY AND APPRAISEMENT

ORDER ADMITTING WILL TO PROBATE OR ORDER OF ADMINISTRATION At the hearing on the petition, the following must be established to the court’s satisfaction and reflected in the court’s order: Death of the decedent, including date and place; Residence of decedent at the time of death; Estate left by decedent; No other probate of the decedent’s estate has been filed; 18 The identity of the heirs, The petitioner’s right to appointment and com petence to serve as per sonal representative or administrator; 20 Necessity or waiver of bond; 21 Notice of the hearing has been provided as required by law, whether by mail or publication or both; If the decedent died intes tate, a diligent search was conducted by the petitioner for a will and none was found; 22 and If the decedent died testate, the will was executed as required by law, and the testator was of sound mind at the time of its execution. 23 Most often, the decedent’s will contains statutory language that makes it “self-proving,” mean ing that testimony of witnesses is not required to prove up the will. 24 However, if the will is not self-proving, the testimony or affidavit of at least one sub- scribing witness will be needed. 25 devisees and legatees of the decedent, if requested in the initial petition; 19

Within two months of the date of the order appointing the PR, the PR must file an inventory of the probate estate that has come into the PR’s possession or knowl edge, unless an inventory has been waived. 34 The PR may fulfill the appraisement requirement by stating his or her opinion of the value of the estate described in the inventory. 35 Although the valuation is not required to be supported by an official appraisement unless ordered by the court, because the values of estate assets, such as real property, stocks, etc., stated in the inventory, or later in the final accounting or order of distribu tion, may be used to establish a stepped-up tax basis in that asset (to the fair market value at date of death, rather than the value when the decedent purchased it) in order to eliminate or minimize capital gains taxes when that asset is later sold by the heir(s), it may be bene ficial to have a reliable source and documentation of the valuation. Any probate estate property not mentioned in the inventory that later comes into the possession or knowledge of the PR must be reported to the court within two months of its discovery. 36 Assets that are owned by a decedent’s trust or in joint tenancy with a sur viving joint tenant, or which desig nate a transfer on death or payable on death beneficiary (that has not lapsed) are not part of the probate estate and should not be included in the inventory of the estate.

Statements or opinions expressed in the Oklahoma Bar Journal are those of the authors and do not necessarily reflect those of the Oklahoma Bar Association, its officers, Board of Governors, Board of Editors or staff.

52 | NOVEMBER 2024

THE OKLAHOMA BAR JOURNAL