[USER]

My uncle passed away recently, and before he died, he named my mother as the beneficiary on some CDs (certificates of deposit). However, now that he’s gone, my mom says she can’t access the funds because she needs probate.

I thought naming a beneficiary was supposed to avoid probate altogether. We’re confused about what steps she needs to take next.

Is it true that she still needs to go through probate even though she was named as the beneficiary?

If so, how does she start the probate process, and what does it involve? She lives in \[state – optional to include for better advice], and we’re not sure whether the laws there make a difference.

We would really appreciate any guidance or experiences others can share. Has anyone gone through a similar situation with CDs or bank accounts after a loved one passed?

What should we expect in terms of time, cost, and paperwork?

Thanks in advance for your help.

[Tristan]

If she’s the beneficiary she doesn’t need to go through probate. She goes to wherever the CD is held with the death certificate and they process it

[Paige]

Did he actually file beneficiary forms with the bank that issued the CDs? Did he file a beneficiary form for each CD?

Or did he name her the beneficiary in his will?

If it’s the will, it needs probate.

[Mark]

Elder law attorney here in FL (not sure what state this is in). If she’s named beneficiary, no probate needed.

[Bill]

If she is a named beneficiary, with the financial institution, all she needs to do is present the death certificate and her ID at the financial institution, and they will process the payout.

It normally taxes 10-14 days.

[Elisabeth]

If your uncle named your mom as the beneficiary of these accounts…. as opposed to leaving them to her in his will…. she does not need to go through probate.

She will need a copy of the death certificate to give to the bank.

Then they will probably send her some forms to fill out. She might have to get them notarized.

It is a simple process

[Sue]

If she is the beneficiary she dosent go through probate she goes to the bank the cds are at with a death certificate and the account transfers into her name

[Sam]

“To obtain probate, typically you need to submit the death certificate and the will (if one exists) to the probate court in the jurisdiction where the deceased lived.

You’ll then file a petition to begin the probate process and the court will grant you permission to administer the estate if your petition is approved.

After that, you’ll need to inventory assets, pay debts, and distribute assets to the beneficiaries.

Here’s a more detailed breakdown:
1. Locate and Submit the Will:
If the deceased had a will, locate the original copy. Present it to the probate court along with the death certificate.

2. File a Petition for Probate:
This initiates the process and requests the court to validate the will and appoint an executor (if there is a will) or personal representative (if there isn’t).

3. Receive Authorization from the Court:
The court will review your petition and the will, if any, and may hold a hearing.

If approved, you’ll receive letters testamentary (if there’s a will) or letters of administration (if there isn’t) granting you authority to administer the estate.

4. Inventory and Value Assets:
Compile a complete list of all assets belonging to the deceased and determine their value.

5. Pay Debts and Taxes:
Utilize the estate’s funds to pay any outstanding debts and taxes owed by the deceased.

6. Distribute Assets:
Once debts and taxes are paid, you’ll distribute the remaining assets to the beneficiaries as specified in the will or according to state law if there is no will.

7. Close the Estate:
After all tasks are completed, you’ll file a final accounting with the court and request that the estate be closed.

[Author]

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