Does All Property Have To Go Through Probate When A Person Dies?

Video Transcription:

Not all property has to go through probate when a person dies. The property that does have to go through probate, are those assets that were titled in the decedent’s name alone, that don’t have joint ownership, joint with right of survivorship, that don’t have a designated beneficiary like a 401(k) or a life insurance policy. Anything that’s titled in the decedent’s name alone is going to go through probate. However, if you have done some estate planning and set up a revocable living trust and transfer your assets into that trust before you died, all of those assets are going to escape probate. So I encourage all of you out there to set up a revocable living trust and fund it during your lifetime. Have more questions? Then contact us today to schedule a free consultation! Doane & Doane Top rated Tax & Estate Planning Attorneys