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Most people don’t think about what happens to their assets after they pass—until it’s too late. But here’s the deal: how your assets are owned determines whether your family faces a smooth transition or a legal nightmare.

In this quick video, Erica breaks down the key differences between probate and non-probate assets—and why knowing the difference is crucial for smart estate planning.

These are assets owned individually without a named beneficiary—meaning they must go through probate court to be transferred to heirs. Probate is slow, expensive, and very public (yes, anyone can look up what’s in your estate).

📌 Common Probate Assets:
• Real estate titled in one person’s name
• Bank accounts without a beneficiary designation
• Personal property (cars, jewelry, collectibles)
• Business interests without a transfer plan

Since probate can take months or even years, it’s not the most efficient way to pass down your assets.

Non-probate assets, on the other hand, are designed to pass directly to heirs without court involvement. These include jointly owned property or accounts with named beneficiaries—ensuring a quick and smooth transition.

📌 Common Non-Probate Assets:
• Jointly owned property (with rights of survivorship)
• Life insurance policies with named beneficiaries
• Retirement accounts (401(k)s, IRAs)
• Bank accounts with Payable on Death (POD) or Transfer on Death (TOD) designations
• Assets held in a Living Trust

If you want to avoid probate headaches, having a comprehensive estate plan is a game-changer.

To make sure your loved ones aren’t left in legal limbo, consider setting up:
• A Will – Directs where your assets go but still requires probate
• A Revocable Living Trust – Helps avoid probate while keeping your estate private
• Durable Power of Attorney – Ensures someone you trust can handle finances if you're incapacitated
• Healthcare Directives – Allows someone to make medical decisions for you if needed

Knowing the difference between probate vs. non-probate assets means less stress, less court, and more control over your legacy.

If you're in Sudbury, Metrowest Boston, Maynard, Framingham, Natick, or nearby areas, 20West Legal is here to help you understand the difference between probate and non-probate assets—and create an estate plan that keeps your loved ones out of court and in control.

📞 Have questions? Contact us to get personalized guidance on estate planning. We're here to help you protect what matters most! Call us at (978) 440-0014 or book your appointment at http://bit.ly/20westlegal-scheduler.

Register your spot for our free 20-minute webinar: https://bit.ly/20minwebinar-ep

To know more about us, visit our website: https://20westlegal.com/

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