What is a Probate Beneficiary Waiver and Consent | WA State Probate TV 005
What is a Beneficiary Waiver
When someone dies in the family and there are assets to be distributed amongst family members, there is almost always at least a minor amount of tension created.
First, most people don’t know the rules surrounding probate so they aren’t sure what is going on or exactly how much authority the named Personal Representative actually has.
Second, one starts to get legal documents in the mail to sign that seem a little sketchy at first glance.
One of those documents we are going to talk about today.
The formal name of this document is “Consent to Grant of Nonintervention Powers and Waiver of Notice.”
Usually a document like this comes in the mail with instructions that simple say “sign and send it back to me at your earliest convenience.”
That is enough to make anyone nervous.
Today I wanted to break down exactly what the document says so you know what you are signing (though I will say if you have ANY reservations please talk to a lawyer and make sure).
The first thing you are doing is acknowledging that you’ve received a copy of the petition for probate – this is usually included with the waiver.
The petition outlines the finances of the decedent, the person requesting to be named Personal Representative, and other facts the court will want to have in front of it to make a decision.
The second thing you are doing is consenting to nonintervention powers.
Nonintervention powers allow the Personal Representative to administer the estate without a lot of court supervision. This often makes the process easier and it DEFINITELY makes it cheaper.
Have you had someone pass away and you’re not sure whether or not you even need probate? I’ve put together a short infographic that will help you find out in less than 30 seconds. Just click the link below to instant answers.
Submit a comment