What is probate?

Probate is a court-supervised legal process that is required to pass assets or property of a deceased person to beneficiaries or heirs when the estate is valued at more than $166,250.

Joint tenancy assets, pay-on-death accounts, and other assets that pass to beneficiaries by right of survivorship are generally not included in the probate estate and generally are not dictated by the terms of the will or by state intestacy laws.

Mobile homes and automobiles may not be subject to probate if the value of the deceased person’s other assets does not exceed $166,250.