What types of assets do not need to be probated?
Any asset that transfers upon death or names a beneficiary will most likely not need to be probated. For example, retirement accounts or bank accounts that name a beneficiary do not need to be probated. Life insurance proceeds, which name a beneficiary (unless the beneficiary listed is the estate) will not need to be probated. Accounts that are payable upon death, such as payable-on-death bank account, securities that are transferred on death, or savings bonds that are payable upon death will not need to go through probate. Finally, any property held in a living trust or held jointly as tenants by the entirety or joint tenants with a right of survivorship will not need to go through probate.