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Probate and Non-Probate Assets Part 2

Posted by John B. Palley on Thursday, October 6th, 2011 in Probate
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A little more from my 2010 NBI lecture to other attorneys on probate law.  Contact me with questions.  -John

Probate and Non-Probate Asseets

Probate Assets – Or likely to be probate assets

  1. Real Property (including fractional interests)
  2. Bank Accounts
  3. Stocks
  4. Bonds
  5. Mutual Funds
  6. Final pay checks
  7. Refund checks
  8. Timeshares
  9. Partnerships and business interests
  10. Tangible personal property
  11. Cars, boats, RVs and mobile homes
  12. Livestock and breeding animals
  13. Litigation proceeds

Non-Probate Assets – Or likely to not be probate assets

  1. Joint tenancy or CPWROS Real Property
  2. Life insurance
  3. 401k’s
  4. IRA’s
  5. Other retirement accounts
  6. Payable on death accounts or Totten Trusts
  7. Out of state real property
  8. Property held in trust

PRACTICE POINTER: Great resource for determining probate and non-probate assets is the California Probate Referee’s Guide.  It can be found on-line at:

https://www.sco.ca.gov/Files-EO/probate_guide.pdf

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