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Can you provide me a bit more information? In what state did your dad reside at the time of his death? Who there a named beneficiary on the life insurance policy? Thanks.
Thanks for following up. Yes, that does sound like you've got a handle on things. The following assets would not be required to go through probate: : i) joint brokerage and bank accounts which vest automatically in the surviving owner upon the death of one owner; ii) real property held as joint tenants or tenants by the entirety, which also vest automatically in the surviving owner upon the death of one owner; and iii) assets with designated beneficiaries other than the estate such as life insurance and retirement accounts. If the bank account and car are worth less than $6,000, then you can dispose of the assets without an administration/probate. If over $6,000 but under $75,000, you can do a summary administration, which is a very simple probate process.