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Does All Property Have To Go Through Probate? Real and personal property owned as a joint tenants passes to the surviving co-owners without going through probate. Other types of benefits, such as life insurance or annuities payable directly to a named beneficiary bypass probate. Money from IRAs, Keoghs, and 401(k) accounts transfer automatically, outside probate, to the persons named as beneficiaries. Bank accounts that are set up as payable-on-death account (POD for short) or an "in trust for" account with a named beneficiary also pass to that beneficiary without probate.If a Living Trust holds legal title to property, that also passes to the beneficiaries without probate. (The Trust is a legal entity which survives you after your death.) If you or a loved one is in need of legal assistance, call or submit an online
questionnaire. The initial consultation is free of charge, and if we agree
to handle your case, in most cases we will work on a contingency fee basis,
which means we get paid for our services only if there is a monetary recovery
of funds. In many cases, a lawsuit must be filed before an applicable expiration
date, known as a statute of limitations. Please call right away to ensure that
you do not waive your right to possible compensation.
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