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BankersOnline.com Forums State-Specific Compliance Issues Oklahoma Death of Sole Proprietor
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#2170972 - 03/29/18 07:52 PM Death of Sole Proprietor
OkieOps Offline
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OkieOps
Joined: May 2001
Posts: 752
OK
When a husband and wife have a Sole Proprietor account and one of them dies, does the account need to go through Probate or does it pass to the surviving spouse?

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#2171039 - 03/30/18 01:29 PM Re: Death of Sole Proprietor OkieOps
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
It's treated as a joint tenancy account, and the surviving spouse gets it by operation of law and contract without probate proceedings.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
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#2171087 - 03/30/18 03:04 PM Re: Death of Sole Proprietor John Burnett
OkieOps Offline
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OkieOps
Joined: May 2001
Posts: 752
OK
Thank you that is what I thought. Do you happen to know where that might be in writing so I can prove my point?

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