Arlington, TX asked in Banking and Probate for Oklahoma

Q: How long do I have to get a simple affadavit to close a deceased bank account & or will I need to do simplified probate

Not certain which I need to do

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1 Lawyer Answer
Richard Winblad
Richard Winblad
PREMIUM
Answered
  • Probate Lawyer
  • Edmond, OK
  • Licensed in Oklahoma

A: Banks are required to turn over funds after 5 years of inactivity. Inactivity is defined by statute. You should be good if you are within that time frame. If the assets are $50k or less and there are no unpaid creditors, an affidavit should suffice. Most banks have forms they prefer. If yours does not contact an attorney who can draft it for you. If there are creditors, a summary probate procedure may be available. This usually takes 60-90 days to complete once filed.

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