Q: I have to fill out a affidavit for release of decedent's accounts that exceed 50,000, at first glance but...
My father passed away in August of 2020, he left no will and owned no property or car or stocks or bonds. He did have funeral, hospital and nursing home bills that I have paid. He had 3 bank accounts (one of which was in Missouri, I was POD)which totaled more than 50,000. I was beneficiary of one of the accounts in Ok, the other in Ok had no living beneficiary. The affidavit askes if the accounts aggregate were over 50,000.00, I assume for probate laws, but two of the accounts are not subject to probate because I was named as POD or beneficiary and without those only the one, which is less than 50,000, is all the personal propety he had. How should I fill out this affidavit? as it is written I feel like I would be lying to say that the aggregate was less than 50,000, what should I do?
A: You fill out the form based on the total accounts that did NOT have POD designations.
A: The fair market value is of property located within the state of Oklahoma and which is subject to disposition by will or intestate succession does not exceed $50,000. Property held in joint tenancy or which has a payable on death or other beneficiary provision would not be subject to probate and therefore not included. The bank account in Missouri would also not be included for the reason it is not in the State of Oklahoma. Best of luck.
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