Oklahoma Estate Planning Laws

Estate & Inheritance Tax

Oklahoma does not impose a state estate tax. Residents are still subject to the federal estate tax for estates exceeding the federal exemption amount ($13.61 million in 2024).

Oklahoma does not impose an inheritance tax.

Probate Process

Oklahoma uses a both probate system. Estates valued below $200,000 may qualify for simplified small estate procedures, such as a small estate affidavit, which avoids full probate.

Elective Share: The surviving spouse receives an intestate share that varies based on the source of property (acquired during marriage vs. separate property) and whether there are surviving children.

Will Requirements

In Oklahoma, a valid will requires:

• The testator must be at least 18 years old and of sound mind
• The will must be in writing
• The will must be signed by the testator (or by another person at the testator's direction)
• 2 witnesses must sign the will

Holographic (Handwritten) Wills: Recognized as valid in Oklahoma. A holographic will must be entirely in the testator's handwriting and signed by the testator.

Self-Proving Affidavit: Notarization is required for a self-proving affidavit, which allows the will to be admitted to probate without witness testimony.

Digital/Electronic Wills: Not currently authorized under state law.

Power of Attorney

Oklahoma provides a statutory power of attorney form that is widely accepted by financial institutions and government agencies.

A durable power of attorney remains effective if the principal becomes incapacitated. This is a critical estate planning document for Oklahoma residents.

Medicaid Planning

Oklahoma follows the federal Medicaid look-back period of 60 months (5 years). Any transfers of assets for less than fair market value made within this period before applying for Medicaid may result in a penalty period of ineligibility.

Planning for potential long-term care needs should begin well in advance of the look-back period. Consult with an elder law attorney in Oklahoma for strategies specific to your situation.