Detailed Answer
Under Oklahoma law, a surviving spouse or minor children may claim a “year’s allowance” from the decedent’s personal property to support themselves for one year following death. This allowance is governed by 58 O.S. § 341 and § 342, which direct the court to set aside a reasonable portion of personal property up to statutory limits. You must list personal property assets in the estate inventory and use that inventory to determine and reserve assets for the year’s allowance.
Here’s how it works step by step:
- Prepare the Inventory: Within 60 days of appointment, the personal representative (executor or administrator) must file a full inventory of the estate’s assets, including cash, bank accounts, investments, household goods, vehicles, and other personal property. (See 58 O.S. § 2622)
- Elect for the Year’s Allowance: The surviving spouse or next of kin must file an election to receive the year’s allowance within six months of the decedent’s death.
- Calculate the Allowance: Using your inventory values, the court or personal representative selects sufficient personal property to meet the reasonable support needs for one year. The law caps the allowance at the value set by statute when there is no homestead election. (58 O.S. § 342)
- Set Aside Assets: You identify and reserve specific items—such as household furnishings, vehicles, or cash—that total the allowance amount. Those items are listed in the probate accounting and cannot be distributed until the year’s allowance is satisfied.
- File Accountings: The personal representative’s final accounting must show which assets were listed in the inventory and which were set aside for the year’s allowance. The court reviews and approves this accounting before distributing any remaining assets.
By listing all personal property in your initial inventory, you ensure transparency and compliance. Omitting assets risks objections from heirs or rejection of your year’s allowance claim.
Helpful Hints
- File the estate inventory within 60 days under 58 O.S. § 2622 (link).
- Make the year’s allowance election within six months of the decedent’s death to preserve rights.
- Keep receipts and valuations of personal property to support your inventory values.
- Consult sample inventory forms from your local probate court to track assets accurately.
- Review 58 O.S. § 341 (year’s allowance definition) and § 342 (allowance amount).
- Maintain clear communication with heirs to reduce disputes over asset listing.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation.