Oklahoma Wills vs. Trusts
Navigating Oklahoma estate planning doesn’t have to be overwhelming. The Sooner State offers unique estate planning features including transfer-on-death deeds for real estate and vehicles, simplified probate for small estates under $50,000, and recognition of holographic and limited oral wills. With Oklahoma’s spousal protection laws and no state estate or inheritance taxes, familiarizing yourself with the main distinctions between wills and trusts can save your family significant time, money, and stress while preserving your legacy.
Table of Contents
US Map For The Different Will and Trust Requirements by State
Interested in other state’s law regarding wills and trusts? Click the ABOVE state you want to be taken to.Â
Oklahoma Will Requirements
An Oklahoma Last Will and Testament should include:
- Age and Capacity: Testator must be “of sound mind” and at least 18 years old
- Format: Must be in writing
- Signature: Must be signed at the end by the testator (or by another person in the testator’s presence at the testator’s request)
- Witnesses: Must be signed at the end by at least two witnesses who hear the testator declare that the document is a will
Mental Competence
In general, a testator is “of sound mind” if he or she:
- Is aware of the people who would typically inherit from the testator’s estate (i.e., close relatives)
- Understands the property that makes up his/her estate
- Comprehends the overall implications or how assets will be distributed under the will
Special Situations
Witness Requirements
For Oklahoma wills:
- Witnesses must observe the testator’s execution of the will (or hear the testator acknowledge the signature’s validity) and must sign the will in the testator’s presence
- Oklahoma law directs witnesses to also include their addresses with their signatures, but a will is not rendered invalid by the absence of a witness address
Interested Witnesses
Self-Proved Wills
Oklahoma wills need not be notarized, but a will can be made “self-proved” through execution of a notarized affidavit:
- A self-proved affidavit must be executed by the will’s testator and witnesses
- The affidavit attests to the testator’s capacity to properly execute the will and that all required formalities were observed
- A self-proving affidavit serves in place of witness testimony before the probate court and must attest to the facts necessary to authenticate the will in probate
- The Oklahoma legislature provides a published template for a self-proved affidavit, at Okla. Stat., §84-55(5)
Need help creating the right estate plan for your Oklahoma family?
Our estate planning specialists can help you navigate Oklahoma’s unique laws and create a personalized strategy.
THE ULTIMATE FREE DOWNLOAD
The Estate Planners Tactical Guide
Essential Legal Protection for Achievers
Amendment, Revision, and Revocation of Oklahoma Wills
Revoking an Oklahoma Will
Under Oklahoma law, revocation of a written will can be accomplished through:
- Execution of a subsequent written will (or similar document observing requisite formalities) expressly revoking the prior will
- Physical destruction of the will by the testator, such as by burning or tearing
Amending an Oklahoma Will
An existing Oklahoma will may be amended or supplemented by:
- Execution of a codicil satisfying all requirements for a written will
- A codicil is a will amendment and effectively republishes the will as of the date of the codicil’s execution
- If a will is later revoked, any codicils attached to the will are deemed to be likewise revoked
Effect of Later Wills
Automatic Revocation by Divorce
Children Born After Will Execution
If a child is born to or adopted by a testator after execution of an Oklahoma will—and if the testator’s will does not provide for or otherwise mention the child—the child inherits a share of the estate equal to what the child would have inherited had the testator died intestate.
Children Omitted from Will
If an Oklahoma will omits any of the testator’s children—and the omission appears to have been intentional—the omitted child receives the same share as if the testator had died intestate.
Holographic and Oral Wills
Holographic Wills
Oklahoma law recognizes holographic (handwritten) wills as long as the will is:
- Written entirely and exclusively in the testator’s handwriting
- Dated
- Signed by the testator
Oral (Nuncupative) Wills
Oklahoma recognizes oral (or “nuncupative”) wills under very limited circumstances:
- When making the oral will, the testator must be in the field serving in the military or on duty aboard a ship at sea
- The testator must also be acting under the fear of imminent death
- The statements constituting the oral will must be heard by at least two witnesses, at least one of whom the testator asked to serve as witness to an oral will
- In Oklahoma, nuncupative wills can only be used for personal property worth up to $1,000 and cannot be used to devise real estate
Oklahoma Trust Requirements
Trusts in Oklahoma are governed primarily by the Oklahoma Trust Act. Though Oklahoma’s trust law bears some similarities to the Uniform Trust Code, the uniform statute has not been adopted by the state’s legislature.
Trust Parties
As in other states, the vital parties to an Oklahoma trust are:
- The settlor (the person creating and contributing property to the trust—Oklahoma law uses the term “trustor”)
- The trustee (the person who controls property in the trust)
- The beneficiary (the person who benefits from the trust assets)
Trust Creation Methods
An Oklahoma trust can come into existence through:
- A property owner’s declaration that the property is held in trust for another person
- Transfer of property to another person as trustee (whether during life or by will)
- Through a power of appointment
- A promise from one person to another to hold a third person’s rights in trust
Trust Revocability
Trust Purpose and Requirements
Oklahoma Business Trusts
Oklahoma “business trusts” are governed by separate Oklahoma statutes and must be evidenced by either a written instrument signed by the grantor and recorded with the relevant county clerk or by a validly executed will.
Trustee Responsibilities
- Oklahoma law holds trustees to strong fiduciary duties, though a trustor may limit the extent of the duties within the trust instrument
- Trustees who invest trust assets are subject to the “prudent investor rule,” under which assets must be managed prudently with due consideration of the trust’s purposes, terms, distribution requirements, and surrounding circumstances
- A trustor may expand, restrict, or modify the prudent investor rule within the trust instrument
Prohibition on Self-Dealing
Spendthrift Provisions
Self-Settled Trusts
THE ULTIMATE FREE DOWNLOAD
The Estate Planners Tactical Guide
Essential Legal Protection for Achievers
Special Considerations
Estate Taxes
No State Estate or Inheritance Tax
Oklahoma does not impose either estate or inheritance taxes. Large Oklahoma estates may still be liable for federal estate taxes.
Simplified Probate
Small Estate Procedures
Oklahoma law allows for a streamlined probate process for “small estates” (defined as probate assets valued at less than $50,000). If an estate qualifies, the decedent’s heirs can submit an affidavit allowing for possession of the probate assets, bypassing probate.
Non-Probate Transfers
Transfer-on-Death (TOD) Deeds and Vehicle Titles
TOD Real Estate Deeds and Vehicle Titles
Oklahoma is among the few states that authorize TOD designations on both real estate deeds (commonly called “beneficiary deeds”) and vehicle titles:
- When a TOD designation is added to a deed or title during life, ownership of the real property or vehicle automatically transfers to the named beneficiary upon the owner’s death, with no need for probate
- The beneficiary, though, does not acquire present rights over the asset until death actually occurs
Need help creating the right estate plan for your Oklahoma family?
Our estate planning specialists can help you navigate Oklahoma’s unique laws and create a personalized strategy.
Wills vs. Trusts: Comparison
| Feature | Wills | Trusts |
|---|---|---|
| When It Takes Effect | After death | Can be immediate (living trust) or after death (testamentary trust) |
| Probate Process | Requires probate | Assets in trust avoid probate |
| Privacy | Public record | Generally private |
| Challenges | Can be challenged in probate court | More difficult to challenge |
| Cost to Create | Generally less expensive | Usually more expensive |
| Ongoing Administration | None until death | May require ongoing management |
| Protection During Incapacity | None (requires separate power of attorney) | Can provide management if grantor becomes incapacitated |
| Oklahoma Special Feature | TOD real estate deeds and vehicle titles; holographic and limited oral wills | Assumed revocable unless stated otherwise; spendthrift protections for trust principal |
Conclusion
Creating a will or trust does not have to be difficult or intimidating for Oklahoma residents. However, certain circumstances—like second marriages, stepchildren, aging parents, special needs beneficiaries, guardianships, and business interests—can add complexity and result in unforeseen consequences.
Oklahoma offers unique estate planning tools including transfer-on-death designations for both real estate and vehicles, recognition of holographic wills, and simplified probate for small estates under $50,000. The state’s strong spousal protection laws ensure that a surviving spouse’s interests are protected, regardless of what a will might provide. With no state estate or inheritance taxes, Oklahoma provides residents with flexible options to protect their assets and provide for their families.
When any out-of-the-ordinary issues are present, it’s advisable to consult with an experienced attorney familiar with and licensed under Oklahoma law to ensure your estate plan takes full advantage of the state’s provisions while avoiding potential pitfalls.
Ready to Protect Your Oklahoma Family’s Future?
Join the thousands of Oklahoma families who have secured their legacy with our personalized estate planning strategies. Our approach helps you avoid probate, protect assets, and ensure your wishes are carried out exactly as you intend.
- ✓ Avoid costly probate and family disputes
- ✓ Maintain privacy of your financial matters
- ✓ Protect assets during incapacity
- ✓ Create safeguards for children and loved ones
Explore Estate Planning Strategies
Free consultation with our estate planning specialists
THE ULTIMATE FREE DOWNLOAD
The Estate Planners Tactical Guide
Essential Legal Protection for Achievers
FAQs: Oklahoma Wills and Trusts
Q: What are the requirements for a valid will in Oklahoma?
A: A valid Oklahoma will must be in writing, signed at the end by the testator (who must be at least 18 and of sound mind), and signed by at least two witnesses who hear the testator declare that the document is a will. The witnesses must sign in the testator’s presence. Oklahoma also recognizes holographic wills that are written entirely in the testator’s handwriting, dated, and signed, even without witnesses. If the testator is under guardianship, the will must be executed in the presence of a state district court judge.
Q: Does Oklahoma recognize transfer-on-death deeds for real estate and vehicles?
A: Yes, Oklahoma is among the few states that authorize transfer-on-death (TOD) designations for both real estate deeds and vehicle titles. These “beneficiary deeds” allow you to designate someone to automatically receive your property upon your death while maintaining complete control during your lifetime. The beneficiary has no rights to the property until your death occurs. This provides a simple way to transfer these valuable assets outside of probate without the complexity of creating a trust, potentially saving significant time and money for your heirs.
Q: Does Oklahoma recognize oral wills?
A: Oklahoma recognizes oral (nuncupative) wills, but only under very limited circumstances. The testator must be in the field serving in the military or on duty aboard a ship at sea, and must be acting under the fear of imminent death. The statements must be heard by at least two witnesses, with at least one specifically asked to witness the oral will. Even when valid, Oklahoma oral wills can only distribute personal property worth up to $1,000 and cannot transfer real estate. For most people, a written will or trust is necessary for effective estate planning.
Q: How are spouses protected under Oklahoma inheritance laws?
A: Oklahoma provides strong spousal protections. A surviving spouse can claim an elective share of half of the property acquired during the marriage through joint efforts, regardless of what the will states. Under Oklahoma law, one spouse cannot leave more than 50% of jointly acquired marital property to anyone other than the other spouse. Additionally, surviving spouses have rights to continued possession of the homestead and to receive one vehicle titled to the deceased spouse. If there’s no will, a surviving spouse receives half of the estate, or the entire estate if there are no surviving children, grandchildren, parents, or siblings.
Q: Can I avoid probate with a small estate in Oklahoma?
A: Yes, Oklahoma offers a simplified probate process for “small estates” with probate assets valued at less than $50,000. If an estate qualifies, the heirs can submit an affidavit to claim the assets, bypassing the formal probate process. This can save considerable time and expense. For larger estates or those with real property, consider other probate-avoidance strategies like living trusts, transfer-on-death deeds for real estate and vehicles, payable-on-death designations for financial accounts, or joint ownership with right of survivorship.
Q: What happens if I omit a child from my will in Oklahoma?
A: If an Oklahoma will omits any of the testator’s children—and the omission appears to have been intentional—the omitted child receives the same share as if the testator had died intestate (without a will). Similarly, if a child is born to or adopted by a testator after executing a will, and the will doesn’t provide for or mention the child, that child inherits an intestate share. To disinherit a child in Oklahoma, it’s advisable to specifically mention the child in the will and state your intention to provide them nothing, rather than simply remaining silent about them.
Q: Can I use a trust to protect my assets from creditors in Oklahoma?
A: Oklahoma recognizes spendthrift provisions in trusts, which can protect a beneficiary’s interest from their creditors until assets are actually distributed. However, Oklahoma law does not allow “self-settled” asset protection trusts (where you are both the creator and beneficiary). If you create a trust and name yourself as a beneficiary, your creditors can reach your beneficial interest. Additionally, even with spendthrift provisions, trust income may be attached for domestic support obligations, necessary services, or by creditors if the income exceeds $25,000. Trust principal distributions, however, generally receive stronger protection from creditors under Oklahoma law.
