Q: I am in probate and am executor of my brother's estate. When I list non-cash items, do I include items that are not in
probate? I was made beneficiary of his 401K, and we were joint owners of a condo. Do I list these items anywhere?
A: No, you only have to list assets that are going through probate. If you held the condo as joint tenants then you should have right of survivorship which means it doesn't have to go through probate. If you were tenants in common then his portion will have to go through probate.
A:
In California non-probate assets include the following:
Property that is held in joint tenancy.
Bank or brokerage accounts held in joint tenancy or with payable on death (POD) or transfer on death (TOD) beneficiaries.
Property held in a trust.
Life insurance or brokerage accounts that list someone other than the decedent as the beneficiary.
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