pocohantas:
Thank you...

Objections, suggestions and experiences are welcome

Cc: Laudate.

doctore212:
How can I get an Oloshos number in Ajegunle. It is very urgent

pocohantas:
Thank you...

Objections, suggestions and experiences are welcome

Cc: Laudate.

Nbote:
D process doesn't necessarily require a skilled lawyer or their inputs... Lawyers will ask for a percentage of all of d deceased assets including bank balance, properties and pension... All d person needs to do is to visit d Probate department of any state High court And ask for all d requirements. Anyone can actually get it done demselves... I'm currently processing my Dad's and I know a couple of persons who also processed theirs

CaptainMitch:
Well-done, I think it's time I wrote a will detailing what I have to make it easier for my next of kin

pocohantas:
Following the thread on unrecovered funds from a deceased's bank account
https://www.nairaland.com/5314151/how-banks-bankers-getting-richer

I noticed the reoccurring misconception of the next of kin. I will like to address some of these misconceptions and how to recover such funds (to the best of my knowledge).

THIS IS FOR PERSONS WHO DIED INTESTATE (WITHOUT LEAVING BEHIND A VALID WILL)


1: Who is a next of kin (NOK)?
The NOK is the closest living (mostly) blood relative to an individual. For some people, it could be their spouse, parent, siblings, children…even friends.

2: What is the NOK entitled to?
NOK is just a contact person, he/she is NOT AUTOMATICALLY ENTITLED TO THE DECEASED’S ESTATE. Emphasis on automatically because there are situations where the NOK would eventually double as the BENEFICIARY.

3: Who is a BENEFICIARY?
A beneficiary is someone who receives all or part of the deceased's estate.

4: What then is the NOK for?
You might be wondering, since the person won’t be given your funds without paperworks, why fill that space in your Account opening forms? Well, the NOK is that person to be contacted in event of emergencies or whenever the need arises. It shouldn't be a minor.


PROCEDURES TO RECOVER FUNDS FROM A DECEASED'S BANK ACCOUNT;

A:—The survivor(s) to the deceased should head to the Probate Registry in a High Court to apply for an administration of deceased estate/properties. This application must be accompanied by a DEATH CERTIFICATE and can be done IN PERSON OR THROUGH A LEGAL PRACTITIONER.

The process to get the LETTER OF ADMINISTRATION is very much the same across states, though there might be slight differences. Application must contain the following;

-Full names of deceased.
-Date of death of deceased.
-Last residence before death.
-Name of proposed administrators

You will be guided on every other form to fill or required documents and identification.

Persons that can apply for the letter of administration are generally called NOKs and are classified in this heirarchy;

– Surviving spouse(s) of the deceased
– Children of the deceased
– Parents of the deceased
– Brothers or sisters of the deceased of full blood or the children of such sibling.
– Brother or sister of the deceased of half-blood or the children of such sibling.
– Grandparents of the deceased
– Uncles and aunts of full blood or their children

B:—The Probate Registry would give you a letter of confirmation to be taken to banks, financial houses as well as stockbrokers the deceased shared business relationships with. This will enable them disclose the deceased's financial standing as of that date.

C:— Return the confirmation to the Probate Registry. They will add up the deceased’s balances and apply their charges. You will be required to make payments. After payments, the paperwork for you to be administrator would be concluded.

D:—Upon issuance of the Letter of Administration, it should be taken to all the (SUSPECTED) banks where the deceased had accounts for claims. The beneficiary can then decide to open an estate account to move the funds or take it cash. When he/she opts for the latter, the bank would issue a bank draft.


NOTE:
>>2 guarantors (preferably with landed properties) would be required to fill some documents, to support their application to the probate registry, before the letter of administration can be issued.

>>The process could take some time because publication would be made in the gazette or newspaper. This is to give any interested person the opportunity to object and file a caveat to the grant of letter of administration to the applicant.

>>Objection may be raised within specified period for filing a caveat. In the absence of any, the letters of administration would be granted.

>>There are various fees to be paid before its application is evaluated and approved.
However, once approved by the Probate Registry, an estate fee of 5-10% (depending on the state) of the estate's value is paid to the State Government where the Letter of Administration is made and approved.


>>Is there a statute of limitation on filing for the estate of a dead relative? If there is, how long is it?

No, there isn’t. Whenever the relatives are up to it, they would be given the funds upon presentation of necessary documents.

>>What happens when the relatives do not know all the deceased’s bank accounts?

In this era of BVN, the relatives can state this request at the Court. They would help with an order mandating the bank to make known all accounts linked to the deceased.

laudate:

Maybe there are some people who can do all the process from start to finish, without any errors. But I am yet to meet them.

If there are errors in filling the forms, the application can be rejected in the probate registry.

If anyone files a caveat against the application, then you need to know the next step to take in order to get the caveat lifted. And you would definitely need expert legal advice, in this area.

Some lawyers do not collect a percentage of the value of the deceased's assets. Some will just request for a flat fee, which might not been so high. It all depends on the lawyer in question, and the kind of relationship you have with him or her.

bluefilm:
Hmm

Hanty Pocohantas, so you even sabi sontin.

I been think say na only feminism nonsense full that your nonsense small head.

Na wa o!

Anyway sha, tenkiu for enlightening us.

pocohantas:
Thank you...

Objections, suggestions and experiences are welcome

Cc: Laudate.

AdeOracle:

Like the person said , you don't need service of a lawyer. I have a letter of administration from probate registry Lagos high court ikeja . Liaise with the staffs in the probate and they will take you through filling the form . Once form is filled and the fee is calculated, payment is made via bank draft . Afterwards its published in the newspaper, once it's ready you get the letter . Main things needed is fill the forms well, get 2 sureties/ referees and you are good to go

laudate:

Maybe there are some people who can do all the process from start to finish, without any errors. But I am yet to meet them.

If there are errors in filling the forms, the application can be rejected in the probate registry.

If anyone files a caveat against the application, then you need to know the next step to take in order to get the caveat lifted. And you would definitely need expert legal advice, in this area.

Some lawyers do not collect a percentage of the value of the deceased's assets. Some will just request for a flat fee, which might not been so high. It all depends on the lawyer in question, and the kind of relationship you have with him or her.

Nbote:

I don't know what U mean by errors from start to finish becos d forms are filled ryt there at d Probate registry and confirmations are made before dey are entered into d system and printed... I am telling U from my own experience and d experience of d person who went thru same and worked me thru it. I met 2 different lawyers, and dey both were going to charge based on d value of what d letter would b covering. Ryt now I'm beyond d 21days publication period and have confirmed the banks response to d letter sent to dem by probate so means I'm almost done.

laudate:

Good luck to you. I have not said that it is impossible, just that I have not met anyone who filed their application without the help of a lawyer.

I also gave instances where legal advice could be needed, in case a caveat was filed by another party. If a caveat was filed, how would the staff of the probate registry have handled it? Just curious.

I was nominated as one of the executors of my friend's will, 5 years ago. Till date, we have not been able to do much, because his widow keeps filing one caveat after the other. Thank God, the other executors are all lawyers and they have been able to deal with the issue.

laudate:

And please ensure that will is property stamped, filed and lodged in the probate registry of the high court. A copy will be kept with your lawyer, and another copy in the court.

You too could decide to keep an extra copy with you, but make sure no one in your family sees it, in order to avoid friction.....

AdeOracle:
Well i did mine myself . Mom was the 2nd executor coz dad wasn't polygamous. In your own case , it seems the widow wasn't part of the executors maybe that's why she's filing caveat after caveat. Getting the letter can be tiring if the probate staffs ain't relating well . I got the letter before six months maybe because it was Lagos high court sha . Good luck

franchasng:
Nairalanders and troublefinding

pocohantas:


Thanks a lot. I am flattered .

I did put all those plenty requirements, had to cut them to reduce the length. Let me edit and add your suggestion(s).

Done

jeroncomputers:
Intestate, another English added to my brain dico, thanks