Create an inventory of non-probate assets

There may be many assets of the decedent that do not pass through probate. For example, money from life insurance policies are generally considered non-probate assets. The probate courts in some states may require you to submit an inventory of both probate assets and non-probate assets.

Check with your attorney and understand the laws in the relevant jurisdiction to confirm their specific definition of non-probate assets, but they generally can include items like:

• life insurance
• pensions
• healthcare savings accounts
• joint/survivor bank accounts
• POD (Payable on Death) bank accounts
• transfer on death investment and brokerage accounts
• assets in certain types of trusts (this can include assets that are traditionally considered probate assets if not held in trust)