Washington Probate > Is a Probate Necessary? > Determining Decedent's Probate Assets > Examples of Probate Assets

Examples of Probate Assets

The only assets that are subject to probate (Decedent's "probate assets") are those held in Decedent's name without designated beneficiaries (other than his/her estate) on death.

Examples of Probate Assets:

• Decedent's personal property inherited upon the deaths of his/her parents, as his/her separate property.

• Decedent's bank and brokerage accounts, as to his/her one-half interest in community property.

• Decedent's interest in a vehicle, a boat, or an airplane, as a tenant-in-common (ie, not joint tenancy) with other joint owners.

• A life insurance policy owned by Decedent on his/her life and whose named beneficiary is his/her estate.

• Decedent's IRA or a Keogh Plan for his/her benefit and whose named beneficiary upon his/her death is his/her estate.

 Examples of Nonprobate Assets:

• Decedent's car, as a joint tenant (ie, with right of survivorship).

• Decedent's bank account, payable on death ("POD") to (or "in trust for") one of Decedent's children.

• Decedent's securities, transferable on death ("TOD") to a named charity.

• Any community property subject to a valid Community Property Agreement.

• A life insurance policy owned by Decedent on his/her life and whose named beneficiary is other than his/her estate (eg, his/her spouse or children).

• Decedent's IRA or Keogh Plan for his/her benefit and whose named beneficiary upon his/her death is other than his/her estate (eg, his/her spouse or children).

• Property held in trust for the benefit of Decedent and whose named beneficiary upon his/her death is other than his/her estate (eg, Decedent's Revocable Living Trust held for (i) his/her benefit during his/her life and (ii) his/her spouse or children following his/her death).

Nonprobate assets pass upon death to the named survivor or beneficiary "outside of probate."

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