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)