Is Probate Necessary?The question that I am asked most frequently when someone has lost a loved one is whether probate is necessary. To answer this question, I find it easiest to make three columns into which we place the deceased individual’s assets:
- the first column is for assets that are owned by only the deceased individual with no joint owner and no one named as the beneficiary of the asset;
- the second column is for assets that have a joint owner or designated beneficiary;
- the third column is used if your loved one had a trust to identify any assets that are owned by the trust.