Share

Gainesville Florida Estate Planning & Elder Law Blog

Monday, February 10, 2014

Probate vs. Non-Probate

It is extremely important to understand the difference between probate and non-probate assets. Probate refers to the process of how a court determines how to distribute your property after you pass away. Probate assets are distributed to family members by the court, while non-probate assets are assets that go directly to your beneficiaries, bypassing the court process.

In the probate process, you must file a will and appoint and executor, collect assets, pay bills, file taxes, distribute property and file the final account. Since the probate process can be time-consuming and expensive, people often try to avoid it and have non-probate assets.

Probate assets are any assets owned only by the decedent. This can include real property, personal property, bank accounts, an interest in partnership or any life insurance policy.

Non-probate assets include property held in joint tenancy, bank or broker accounts in joint tenancy, property held in a trust, life insurance listing someone else’s name and retirement accounts.


Archived Posts

2019
2018
December
November
October
September
August
July
June
May
April
March
February
January
2017
December
November
October
September
August
July
June
May
April
March
February
January
2016
December
November
October
September
August
July
June
May
April
March
February
January
2015
December
November
October
September
August
July
June
May
April
March
February
January
2014
December
November
October
September
August
July
June
May
April
March
February
January
2013



The Law Office of Sam W. Boone, Jr. assists in Gainesville, Florida and the surrounding counties.

*The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.*

* I have read and accept the disclaimer **


The hiring of an attorney is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience. Additionally, the comments, statements and articles contained herein are general in nature and should not be relied upon as a basis for any legal opinion, action or conclusion on the part of the reader with respect to any particular set of facts or circumstances.

© Sam W. Boone, Jr., P.A. | Disclaimer | Law Firm Website Design by Zola Creative



© 2019 Sam W. Boone, Jr., P.A. | Disclaimer
4545 NW 8th Avenue, Suite A, Gainesville, FL 32605
| Phone: 352-374-8308

Estate Planning | Advanced Estate Planning | Elder Law | Special Needs Planning | Probate / Estate Administration | Asset Protection | Guardianships | Pet Trusts | Planificación de Bienes | Planificación Avanzada de Propiedad | Reviews | About Us | Resources

Attorney Web Design by
Amicus Creative