Probate Attorney in Portland, Oregon
What types of assets are subject to probate?
What types of assets are subject to probate?
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yeah the assets subject to probate are
going to be any asset that doesn’t
automatically transfer its ownership to
a new owner when somebody passes away so
the types of assets that uh would be
subject to probate probate specifically
are going to be an asset that somebody
owns that uh they own as an individual
so it’s in their name only there’s no
joint owner or co-owner there’s no Ben
officiary designation on that asset
there’s no mechanism where the asset
title can automatically transfer to a
new owner if if that current owner
passes
away
Portland, OR estates & probate attorney Stefan Wolf talks about the types of assets that are subject to probate. He explains that assets subject to probate are those that do not automatically transfer ownership upon a person’s death. These are typically assets held solely in an individual’s name without a joint owner, co-owner, or beneficiary designation. In such cases, there is no built-in mechanism for the title to pass directly to another party. As a result, those assets must go through the probate process to determine and transfer legal ownership after the original owner passes away.
