What Does Probate Estate Mean In Estate Planning?
Assets that will go through probate, either through a will or by state law. This generally does not include property that was jointly owned, payable on death, life insurance, retirements accounts or other assets with beneficiary designations or otherwise already in trust.
Example Of Probate Estate In Regards To Estate Planning
My dad’s probate estate was super small since most of his assets were retirement accounts, life insurance or assets he had placed into a trust before he died.