What Assets Don't Go Through Probate?

Whenever an individual dies, their assets will usually go through a court procedure called probate before they can be distributed to beneficiaries. Although many assets will have to go through probate, there are certain assets that do not have to be included. Here are a few things to consider about assets that do not have to go through probate.

Retirement Accounts

If you have a retirement account, the assets in the account will not have to go through probate in order to be transferred. Whenever you sign up for a retirement account, such as an IRA, you have to name a beneficiary on your account. Once you pass away, your retirement account is going to automatically be transferred to the beneficiary.

Life Insurance

Another thing that will not have to go through probate is life insurance policy benefits. If you had a life insurance policy, and you named a particular beneficiary, the money would go directly to them without having to go through the probate process.

Be sure to have a clear and updated will to make the probate court process simple to complete. 

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