Probate Assets

The assets of a Decedent’s Estate are categorized as probate or non-probate property. Probate property is property that is solely in the name of the Decedent that is to be transferred by the provisions of a Will. Non-probate property is property that is either jointly held or passes by operation of Law. For instance, a right of survivorship in a Deed, or when an individual is named specifically by the Decedent to be the beneficiary of e.g. an IRA, or a life insurance policy, or when property passes according to the terms of a Trust created by the Decedent before death.

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