Video Summary
What estates need to be probated? And what estates do not need to be probated whenever the deceit and passes away. And all of his titled assets are in his joint names with someone else, they will pass to the joint tenant that has the right of survivorship. There are many examples where there’s a designated beneficiary, such as a individual retirement account, an IRA account. They designate beneficiaries, same thing with the life insurance annuities. Many bank accounts may have a designation such as payable on death or interest trust for, and designate beneficiaries should receive the assets. All of these assets pass without going through probate. So those assets do not have to go through a probate process. If there are assets that are in the decedent’s name alone, such as real estate, or bank account, or a securities account, whether stocks or bonds that are just in the decedent’s name and there’s no designated beneficiary or joint tenant, then those are the assets that have to go through probate. So, if you have any questions about probate, give me a call at (727) 847-2288.