Are all assets subject to probate?

No, which is why the Executor must categorize estate assets. Some assets are classified as “non-probate” assets because they bypass probate altogether. Determining which assets are probate assets and which are non-probate assets is necessary to determine if the estate may qualify for a small estate alternative to formal probate. Common examples of non-probate assets include:

Assets held in a trust
Proceeds of a life insurance policy
Accounts designated as POD or TOD
Certain types of jointly held property
Certain retirement accounts

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

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