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Transfer-On-Death Deeds
SB 1299 Addresses Key Issues
Oklahoma's Transfer-On-Death deed statute has gone through a couple of revisions in the past, and it is once again getting an overhaul. This law allows owners of real property to file a deed leaving the property to one or more beneficiaries after the death of the owner without having to go through probate.
Currently, beneficiaries must file an affidavit and death certificate within nine months of the property owner's death in order to claim the property. If the beneficiary fails to file these documents, the property goes back to the deceased owner's estate and may have to be probated. A beneficiary who is not aware of this requirement could potentially lose his or her interest in the property.
Senate Bill 1299 eliminates this requirement. Instead, interest in the property would pass to the beneficiary as soon as the property owner dies. If the beneficiary doesn't want the property, he or she would have 270 days to file a disclaimer.
The other major changes to the law address issues of incapacitated or minor owners and beneficiaries. The bill clarifies that an attorney-in-fact (under a power of attorney) or a guardian may execute a TOD deed on behalf of an owner. Furthermore, a representative may revoke a TOD deed and may disclaim an interest in the property on behalf of a beneficiary.
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What Happens When You Have a Guardian & DPOA? SB 1304 Answers the Question
When a person has executed a durable power of attorney giving authority to another to act on his or her behalf, but then later another person is appointed guardian, what happens? Currently, Oklahoma statute contains two somewhat contradictory answers (see 58 O.S. 1074).
Senate Bill 1304 seeks to clarify this issue by choosing one of the two answers. If it passes, the guardianship would automatically terminate the durable power of attorney.
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Bills Affecting Long-Term Care Residents
Rights of Choice and Information
There are a few bills that address rights of long term care residents. House Bill 2566 would protect residents of assisted living centers from being financially penalized for choosing their own doctors and other health care providers.
Senate Bill 1048 would require long-term care facilities to prominently post in their lobbies or main entrance areas information about their licenses and recent inspections, including:
- license number and dates the license was issued and is to expire
- names and responsibilities of senior staff
- name and contact information of the facility's administrator
- copies of all inspection reports within the last 12 months
- all substantiated complaints, licensing sanctions and fines
Finally, Senate Bill 1273 would allow more people to qualify for Medicaid to pay for long-term care. Currently, a person who makes more than $3,000 in monthly income cannot qualify for Medicaid. This bill would allow those people who make over $3,000 but less than the monthly cost of nursing home care (plus Medicare premiums) to use a special trust, called a "Miller Trust" to qualify.
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About the Senior Law Resource Center The Senior Law Resource Center is a 501(c)3 non-profit organization dedicated to empowering Oklahomans to age with independence, dignity, and security by providing high-quality, affordable legal information and services. Senior Law Resource Center 600 N.W. 23rd Street, Ste. 106 Oklahoma City, Oklahoma 73103 (405) 528-0858 FAX: (405) 601-2134 info@senior-law.org www.senior-law.org |
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Affordable Legal Services Available
Our attorneys provide free information and affordable assistance with basic estate and incapacity planning, probate, adult guardianship, and other elder law issues. We have no income or age requirements.
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