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→When is probate required?
Not all wills need to be probated. If the estate involves less than $25,000, probate is not typically required.
It depends in part on the type of assets involved. Not all things owned by the will-maker form part of the estate. Certain types of assets “pass outside the willwill”.” For example, property owned jointly by the will-maker and someone else automatically becomes the exclusive property of the other joint owner. Examples include a joint bank account or a house owned in joint tenancy. As the executor, you will be able to transfer these assets to the joint owner without a grant of probate (note that you will need to provide the death certificate).
Assets where the will-maker designated a beneficiary also pass outside the will. The beneficiary is entitled to receive the proceeds on the death of the owner. Examples include a life insurance policy or a retirement benefit plan where the will-maker designated a beneficiary.
Many couples will hold all their assets through joint ownership or with beneficiary designations so when one of them dies, no probate is required.
=== What if the will-maker owned land? ===