Probate is the process in which a probate court assumes jurisdiction over a decedents assets. The assets that go into probate are assets that are in a deceased persons name. This means that the asset did not have another owner on the asset or there was not a beneficiary named on the account. If you designate a beneficiary on your bank accounts, investment accounts, life insurance policies, annuities, and/or retirement accounts then the named beneficiaries on those accounts will receive the asset in that account.
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