Are All Asset Transfers Subject to the Probate Process?

The probate process is something that you should understand when you are making estate planning decisions. Assets are not immediately distributed to the heirs in many instances. Some asset transfers are subject to the probate process, but some types of asset transfers would not go through the process. Before we define probate property, let s look at some asset transfers that would not be subject to the probate process. Living Trusts If you were to use a living trust as a vehicle of asset transfer instead of a last will, the trustee that you name in the trust agreement would be able to distribute assets in the trust to the beneficiaries outside of probate. This is one benefit that you would gain if you use a living trust as the centerpiece of your estate plan, but there are others. Insurance You name a beneficiary when you take out a life insurance policy on your life. After you die, the proceeds would be distributed to the beneficiary by the company. The probate process would not ente
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