Which of Your Assets Are Subject to Probate?
Probate assets are anything owned by a deceased person that has no way of passing to a living beneficiary without a court-supervised probate process. Life insurance proceeds, bank accounts with payable-on-death designations, some retirement accounts, and some forms of real estate ownership pass directly to named beneficiaries by operation of law, so probate isn't required.
Original Article Source Credits: The Balance , https://www.thebalance.com/
Article Written By: JULIE GARBER
Original Article Posted on: March 22, 2021
Link to Original Article: https://www.thebalance.com/what-are-probate-assets-an-overview-3505271