What Assets Are In the Probate Estate?
Understanding What is in Your Probate Estate
Your probate estate consists of all of your assets that do not pass outside of probate. Common examples of probate assets include:
Personal property is often distributed informally, but if it has more than sentimental or practical value it should go through the probate process. Other assets, like real estate and vehicles, may not be transferred legally until someone is appointed personal representative and has the legal authority to transfer clean title.
There are other assets that usually are not part of the probate estate but can end up there if you don't update beneficiary designations. For example, a life insurance policy will pay out to named beneficiaries without waiting for the probate process. But if your named beneficiaries are no longer living, the proceeds will be paid to your estate and distributed according to your will and through the probate process. The same is true for investment and retirement accounts and any other account with designated beneficiaries.
Learn more here about the probate process in Massachusetts.
Need Help With an Estate?
Need Help With a Loved One's Probate Estate?
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