Identify Non-Probate Assets | My Estate Manager

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topic | distribute non-probate assets

Step 1: identify non-probate assets

Some assets do not have to go through probate which guides the formal distribution of assets. Identify these assets so that they can be distributed.

Activity 1

Review Inventory and Identify Non-Probate Assets

Assets that fall into the non-probate category will vary by state. They may include:

property and assets that are jointly owned with rights of survivorship
assets jointly owned with the surviving spouse as tenants by the entirety (survivorship)
assets owned by a living trust
life insurance and investment accounts which have a specified beneficiary
accounts with a specified Transfer on Death (TOD) or Payment on Death (POD) as part of the ownership
personal and household items with minimal monetary value

Identify non-probate assets by reviewing:

Activity 2

Qualify Personal Items for Distribution

Personal items holding little monetary value are often distributed outside of probate. Before the items are allocated, confirm that this distribution is allowed in your state. If there is a dispute concerning items, no matter what the value, they should be held for probate resolution.

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