When is Probate Necessary?
Assets solely owned by the deceased: When an individual holds assets solely in their name, such as real estate, bank accounts, or vehicles, probate is often necessary to transfer these assets to the beneficiaries specified in the will or, in the absence of a will, in accordance with intestacy laws. Absence of designated beneficiaries or joint ownership: Probate becomes essential when assets lack designated beneficiaries or are not jointly owned. Assets with designated beneficiaries, like life insurance policies or retirement accounts, typically avoid probate and directly pass to the named beneficiaries. Controversies or disputes regarding the will: If there are disagreements or challenges concerning the validity of the will, probate offers a legal avenue to address these issues. The court