What items go through the probate process?
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Are you an executor or administrator of a will? Wondering what type of assets go through the probate process in estate planning? These are those that are under the name of the decedents, are not jointly owned, are not designated to any named beneficiaries, and are not payable on death. Additionally, an asset that is partially owned by two or more individuals can fall under probate assets. Below is a list of assets that are subject to probate;
• Real estate
• Stocks and bonds
• Bank accounts
• Investment accounts
• Vehicles
• Personal property e.g. jewelry, clothing
• Household items
Notably, have the probate property listed and signed by a probate court.