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FAQs / Probate Assets / Estate / What types of property do not need to go through probate?

What types of property do not need to go through probate?

One of the first steps to settling an estate is determining what assets are left behind by the decedent, and categorizing those assets depending on how they are to pass to beneficiaries. Assets are allocated into the following general categories:

1.) Probate Assets
2.) Non-Probate Assets
a. Jointly Held Properly
b. Beneficiary Designations
c. Trust Assets

Probate is the legal process of retitling assets in order to remove the decedent’s name and to distribute those assets to the correct beneficiaries, often identified in a Last Will and Testament. Non-Probate assets escape the probate process and are not subject to the provisions of a Last Will and Testament. All non-probate assets have the common characteristic of having a named beneficiary or named fiduciary directly associated with the assets which takes precedent over how those assets will be distributed upon the death of the initial owner.

If you are having trouble determining whether or not your assets will require probate upon your death, it is important to speak with an experienced probate attorney. An experienced and well-versed probate attorney can ensure no loopholes or gray areas exist within your estate plan and will ensure your beneficiaries can skip over the lengthy process involving the probate court.

Contact Florida Probate Law Firm for a Free Consultation today at (561) 210-5500.

Probate Assets / Estate FAQs

  • What Steps Should I Take When a Loved One Passes Away and We Can’t Travel Out of State?
  • How are taxes handled in probate?
  • Does a Spouse Share the Inheritance Given to Their Husband or Wife?
  • What Are Estate Taxes?
  • What must I do to close the estate?
  • What types of property do not need to go through probate?
  • When is probate required to transfer title to real estate?
  • When can I close the estate and distribute the assets?
  • Which law applies if the decedent owned land in more than one state?
  • Does all property have to go through probate when a person dies?
  • Does the property automatically transfer to my name or do I have to register the property with the state?
  • How can an estate plan prevent probate of my estate?
  • What types of property need to go through probate?

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