I have had many clients ask me if probate is always required when a person passes. Probate is required when a person dies owning a probate asset. An easier way to explain this term is to define what a probate asset is not. Probate is not required for “Non-Probate” Assets. Non-Probate assets are defined as joint tenancy assets with right of survivorship, payable on death accounts, assets held in a revocable (living) trust, life insurance and retirement plans that pass by beneficiary designation, brokerage accounts that list someone other than the decedent as beneficiary, etc. The reason why a revocable trust does not require probate is because the assets in the trust are deemed to be non-probate. The reason why the others do not require probate is because the assets pass to the named beneficiary or survivor by operation of law at the decedent’s death
Even when it is determined that probate is required to pass an asset to the proper person, there are then a number of other options available. There are simplified forms of probate such as informal probate, summary proceedings, affidavits of collection, etc. These are designed to simplify the probate process and can frequently be used instead of more complex forms of probate.
This is why I recommend a personal meeting with the family when a person passes. This is necessary to 1) determine if probate is required; 2) determine whether a simplified form of probate is possible. Note: this is not to say that some type of administration might still be required to deal with other issues that need to be resolved.
If you are facing the passing of a loved one and are worried about what needs to be done, give me a call or contact me by regular mail, e-mail, text, etc. We will then set up a family meeting to discuss the situation. To put your mind at ease, I offer a “no obligation” first meeting.