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to Find a Free Legal Form That States I Decline/Refuse Any Portion of Estate

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  • 01-14-2013, 12:13 AM
    Susan Hill
    to Find a Free Legal Form That States I Decline/Refuse Any Portion of Estate
    My question involves estate proceedings in the state of: Oklahoma
    Greetings:

    I am the only child of a single parent who died last week. I have done a preliminary inventory of the estate; the estate appears to have more liabilities than assets. As soon as possible, I need to find a FREE legal document that I can download and print out that states that I decline/refuse ANY portion of this estate and/or inheritance, possibly before the probate process begins. (Someone told us that this document might be called a disclaimer or waiver.)

    Unfortunately, my husband and I are currently unemployed. We live in Oklahoma and most of the estate assets are located in the state of Oklahoma.

    Can you help me locate this document? If your company charges a fee for documents, is there a discount for currently unemployed people?
  • 01-14-2013, 06:17 AM
    harrylime
    Re: to Find a Free Legal Form That States I Decline/Refuse Any Portion of Estate
    I am not aware of any site that has a disclaimer form. But, a couple things...

    A disclaimer only makes sense in the context of an open probate case.

    If you are not going to open probate, who is?

    Unless you already agreed to be responsible for your parent's liabilities, you are not personally liable for creditor claims in excess of the value of the parent's assets.

    You could just do nothing. But, since your parent's creditors might end up bugging you ceaselessly, you could prepare a letter to them explaining that you are the only heir, that the estate's liabilities exceed its assets, you have no intention to open probate, and you will waive your right to administer the estate if one the creditors wishes to open probate.

    Or... Since the probate estate administrator is entitled to a fee, you might consider opening probate. Of course, you would be doing so mainly on behalf of the creditors, but at least you would be entitled to that fee.

    Quote:

    §58527. Fees and commissions.
    A. When no compensation is provided by the will, or the executor renounces all claim thereto, he must be allowed commissions upon the amount of the whole estate accounted for by him, excluding all property not ranked as assets, as follows:
    1. For the first thousand dollars, at the rate of five percent (5%);
    2. For the next Five Thousand Dollars ($5,000.00), at the rate of four percent (4%); and
    3. For all amounts above Six Thousand Dollars ($6,000.00), at the rate of two and one-half percent (2 1/2%); and the same commission must be allowed administrators.
    In all cases such further allowance may be made, as the judge of the district court may deem just and reasonable, for any extraordinary service. The total amount of such allowance must not exceed the amount of commissions allowed by this section.
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