EXAMPLE

For example, Zach dies and at the time of his death, he is married to Kelly.  He and Kelly have a joint bank account, this account will become Kelly’s upon Zach’s death.  She does not need to include it in the probate.

Zach and Kelly own a house jointly with right of survivorship,  the house becomes Kelly’s upon Zach’s death without going through probate.

Zach had a 401(k) and he listed Kelly as the beneficiary.  He also listed Kelly as the beneficiary on his life insurance.  Neither the 401(k) nor the life insurance will go through probate.  
However, Zach owned a vacation house with his friend Jessica as joint tenants.  This is not an interest that has a right of survivorship.  Therefore, Zach’s one-half interest could be subject to probate.*

Zach also had an individual checking account that did not have a co-owner and no one was listed as the beneficiary.  He also owned his own car.  That account and the car would be subject to probate.

IF YOU, HAVE QUESTIONS REGARDING THE ADMINISTRATION OF A PROBATE ESTATE, YOU SHOULD CONTACT A QUALIFIED PROBATE ATTORNEY FOR SPECIFIC ADVICE. THE ABOVE IS INTENDED AS GENERAL INFORMATION AND SHOULD NOT BE CONSTRUED AS LEGAL ADVICE TO ANY PERSON OR INDIVIDUAL.

*In Kentucky, real estate technically passes at the time of death of a decedent, however, real estate can be pulled back into the probate to pay for debts.  Further, if real estate owned by the decedent individually is not listed in a probate proceeding, it is possible that clear title could not pass to at third party for two years. Real estate in an Kentucky probate can be tricky.  You should speak to a qualified probate attorney for specific advice regarding transfer of real estate in a probate proceeding. 
 

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