Monday, July 18, 2011

If you are a beneficiary on a 401K, checking account, savings account.. will that keep those out of probate?

Yes. Accounts with designated beneficiaries, like IRAs and other retirement plans, life insurance, annuities, TOD, trust, and POD accounts, for example, avoid probate. The decedent's will - the instrument that provides the dispositive provisions for the decedent's probate assets - is ignored.

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