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What property does not need to be probated? |
Property that is not subject to the probate process includes any property owned in joint tenancy, jointly held bank accounts, life insurance policies payable to a specific beneficiary, pension benefits payable to a specific beneficiary, and certain other payable on death accounts. In most circumstances, the law also allows the transfer of a motor vehicle without probate.
Many joint assets, though, cannot simply be transferred upon a person’s death. You should contact an attorney to determine what forms may be necessary to transfer legal title to the property so that your ownership interest is valid and perfected.
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