What is Probate?

Probate is a court-supervised proceeding that authenticates your Will (if you have one)

and approves your named Executor so he or she can distribute your property and belongings.
During the probate process, all your assets must be located and assessed for total value.

Once that is completed, taxes and debts are paid and the remaining value of the estate is distributed. 

Before your loved one passed away, they may have executed a will to distribute their assets.

Upon the death of your loved one with a will, you are required by law to probate the will in court.

We will help you file and validate the will in court so that the executor or executrix designated can

carry out your loved one's wishes.

In cases where there is NO Will (meaning your estate is intestate), the process becomes more

complicated. Because there is no documentation stating your final wishes, it is up to the

courts to handle the determination of the heirs of your estate and the distribution of assets.  

In addition, if your loved one did not execute a will, we can assist with applying to the Court for the

appointment of an Administrator for the estate.

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What Does Not Have to Go Through Probate Court?
 

Certain assets and property will not go through probate. By properly planning, you can help avoid

probate for any of the following.

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• ​Items that have a Beneficiary named: Naming a Beneficiary on an asset means you can avoid probate. For
  example, life insurance policies have named Beneficiaries, so proceeds go directly to them without having to go
  through probate.

• Items placed inside a Living Trust: Because a Trust owns the items inside it, when you pass away, anything in
  your Trust can go to your Beneficiaries as specified by the Trust, thus avoiding the probate process.

• POD (payable on death) or TOD (transfer on death) items: When you title property and assets such as bank
  accounts, real estate, retirement accounts, stocks and vehicles with “POD” and “TOD,” you can bypass probate
  and pay or transfer items directly to your noted Beneficiary. Note that some states do not allow real estate to be titled this way.

• Jointly titled property (with Survivor’s Rights): Property titled jointly with Survivor’s Rights will automatically go to a Survivor after you pass. There is no need for the property to go through probate in this case.

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Basic Estate Planning

When you meet with Nike Ladapo, an estate plan will be created which may consist of the following documents:

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• Will. A will is a document that states who receives your assets after you pass away, but until you pass away and go through probate, it is just a piece of paper.

• Financial power of attorney. This document gives a trusted person the authority to act on your behalf should you become incapacitated. Depending on the scope of the power of attorney, that person could manage your bank accounts, buy and sell real estate, and generally deal with other people on your behalf.

• Medical power of attorney. This gives someone the authority to make medical decisions for you if you cannot

        make them yourself.

• HIPAA release. This document grants the named person or persons the ability to access your medical information.

 

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