Or did deceased person own the property jointly, with someone else? If so, what type of co-ownership is listed on the deed or other title document-for example, "as joint tenants with right of survivorship" or "as tenants in common"?.Did the deceased person own it solely-for example, real estate or a car titled in the deceased person's name alone?.Assets That Might Need to Go Through ProbateĪs an initial question, ask how the deceased person owned a particular asset. That's good news because any property that doesn't need to go through probate can be transferred to inheritors much more quickly. ![]() It doesn't necessarily mean that every single thing the deceased person owned will have to be included in the probate process. If you need to take an estate through a probate court proceeding, don't despair. ![]() Even if the property needs to go through probate, the estate might be eligible for a simplified form of probate that can save time and money.Many categories of property-such as retirement accounts with a named beneficiary-will automatically skip the probate process. If the deceased person owned the property alone, or jointly but without "right of survivorship" (for example, as a tenancy in common), it might need to go through probate.To find out if an asset will need to go through probate, first ask how it was owned.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |