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Non-Probate Assets
Assets that automatically transfer to a Beneficiary after a death, rather than having to go through Probate.
Typically, the Asset will be jointly held, designated to a Beneficiary, or held in a Trust.
Examples include, but are not limited to:
Typically, the Asset will be jointly held, designated to a Beneficiary, or held in a Trust.
Examples include, but are not limited to:
- Life insurance policies with a designated Beneficiary
- Property held jointly in Title with Survivorship Rights (real estate, vehicles, boats, etc)
- Bank accounts, 401(k)s & IRAs designated as Pay-On-Death (POD)
- Stocks, bonds & securities designated as Transfer-On-Death (TOD)