The more I look into this, I don't see that any pre-tax deductions can be taken for life insurance over $50K. I was equating life insurance with LTD, for instance, where pre-tax deductions yield taxable benefits and post-tax deductions yield tax-free benefits. I now don't see how this can apply to life over $50K.
Claiming Unclaimed Property in Oklahoma. In Oklahoma, property is generally presumed abandoned if it has remained unclaimed by the owner for more than five years after it becomes payable or distributable. However, this time limit varies depending on the type of property involved. Once abandoned property is turned over to the state by a business, an individual then has the burden of reclaiming from the state. Reporting Unclaimed Property in Oklahoma. In Oklahoma, a holder of abandoned property valued at $50 or more must file a verified annual report containing information concerning the property required by the Oklahoma State Treasurer. The report must be filed before November 1 for property reportable as of September 1, except that for life insurance companies, the report must be filed before May 1 for property reportable as of March 1.
While all wills must be filed for probate, small estates may go through a much simpler probate process than larger estates. Under Oklahoma law, a small estate is defined as $150,000 or less. Expedited and simplified probate procedures can be initiated with an application by the executor and approval of the court.eneral Process. All wills must be probated in Oklahoma. Once the executor files the will with the court, the courtâs first responsibility is to decide if the will is legal and authentic.