What is my probate estate?

Your probate estate is the portion of the estate that must go through the probate process before it can be transferred. Property left by a will is normally subject to this procedure. All property that is inherited at death by various probate avoidance methods such as the living trust, joint tenancy, insurance and beneficiary designations, is not included in the probate estate. Property that is held in a living trust is not subject to probate because you do not own it. Some estate planning experts believe the optimum estate plan should be totally free of probate assets.

 

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