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Julie Garber

What Are Non Probate Assets?

By November 3, 2008

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Non probate assets are simply assets that won't need to be probated after you die.


  1. Assets you own jointly with your spouse or others with rights of survivorship ("JTWROS");

  2. Assets you own jointly with your spouse as tenants by the entirety ("TBE");

  3. Assets owned by your Revocable Living Trust;

  4. Assets in which you retain a life estate and the remainder passes to a non-charitable beneficiary other than yourself;

  5. Assets owned by you and payable to a designated beneficiary, including:

      • Payable on death ("POD") accounts, transfer on death ("TOD") accounts, in trust for ("ITF") accounts and Totten trusts

      • Life insurance policies

      • Retirement accounts, including IRAs, 401(k)s and annuities

      • Health or medical savings accounts

Note that if all of the designated beneficiaries of any of the assets listed in (5) above predecease the account owner, then the account will need to be probated.

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