Probate and CD's listed with transfer on death

[nicholasthecat]

What is the name of your state (only U.S. law)? Oklahoma

If a person dies and leaves money, i.e. CD's, stock, bonds in their name with two grandson's names listed as TOD "transfer on death", is there a wait to receive these funds by the grandsons? Can they cash them immediately regardless of what other personal and real estate of the grandmother has to go to probate as long as they have a death certificate for the grandmother?What is the name of your state (only U.S. law)?

 

[Dandy Don]

Some assets are more liquid than others. The CD's and bonds you can probably get access to fairly quickly. The other assets require paperwork and much more processing time. The real estate requires probate. So get a probate attorney to help guide you through the process.