Property Exempt from Probate
Most assets that you own are subject to the probate process following your death. However, if the value of your property is worth $150,000 or less, and/or if you own certain types of property, those assets can be passed to your loved ones without having to initiate a formal probate process.
Specifically, these are the types of property that can be passed without a probate:
In a future blog post, I will describe the process for collecting the above assets without having to initiate a formal probate.