Washington probate and estate planning attorney Tom Oldfield explains what probate is. Probate is simply the process in which you’re dealing with someone’s property once they pass.
This property can be anything from bank accounts to real estate to even entire businesses. It is important to note that the party who died should have established someone to execute the probate process; otherwise it is left up to the state. This person will need to prove the validity of the will and then will go about distributing out any types of possessions the deceased had. This includes stocks, bonds, securities, and anything else eligible for probate. Whatever is listed in the will in regards to financial affairs is binding for the banks and they must follow those requests. Watch the video now to learn more.