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Probate Explained: What Is Probate, and How Does It Work?

Probate is the legal process that helps settle an estate after death. Learn how it works below.


[Updated: Apr 07, 2021 ] Jan 17, 2020 by Liz Brumer
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What passes through probate What does not have to pass through probate
• Assets not designated as payable on death (POD) or with joint survivorship rights.

• Assets in which the designated beneficiary is deceased.

• Property owned with joint survivorship rights.

Payable on death (POD) accounts.

• Pension plans.

• Life insurance proceeds.401k plans.

• Health savings accounts (HSAs).

• Individual retirement accounts (IRAs).Properties owned in a trust.