What assets avoid probate?

Common probate-avoidance assets include living trusts, joint tenancy property, retirement accounts with designated beneficiaries, life insurance with named beneficiaries, and payable-on-death accounts. Certain real estate may also avoid probate through transfer-on-death deeds or survivorship arrangements.

However, these strategies must be coordinated carefully because improperly structured ownership or outdated beneficiary designations can unintentionally create legal, tax, or family conflict issues.

 

Philip J. Kavesh
Helping clients with customized estate planning guidance and trust & estate administration for over 45 years.