If you own property in your own name at the time of your death, that property can only be passed to your heirs through the probate process. Property that is held jointly, such as a joint bank or brokerage account, or real estate owned with another with rights of survivorship do not pass through the probate estate. Instead those assets belong to the surviving owner. Similarly, assets with beneficiaries, such as life insurance or a retirement account pass outside the probate process. But for those independently owned assets – you will need to go through the probate process. If that is the case, here are some important points to keep in mind: Read the rest of this entry »