Probate vs. Non-Probate

Question 1

All property is either:

Answer 1

Probate or non probate

Question 2

Probate property

Answer 2

a) Property that passes at decedent’s death
i. If passed by will, then decedent is “testate”
(a) Personal representative = “executor”

ii. If property passes without a will, then decedent is “intestate”
(a) Personal representative = “administrator”

Question 3

Non-probate property is:

Answer 3

Property that passes during decedent’s lifetime (through a will substitute)
i. Non-probate items do not go through probate process because an owner has already been designated when someone dies

Question 4

Four types of non-probate transfers

Answer 4

1. Inter vivos trust
2. Life insurance and/or pension plan
3. Payable on death accounts
4. Joint tenancy accounts

Question 5

Probate process (Step 1)

Answer 5

Administator (intestate) or executor (testate) requests letters of administration or letters testamentary from the registrar of wills

Question 6

Probate process (step 2)

Answer 6

Personal representative collects and manages the estate’s assets

Question 7

Probate process (step 3)

Answer 7

Personal representative pays all just debts according to the heirarchy listed in the statute

Question 8

Probate process (step 4)

Answer 8

PR distributes the estate according to the will or statute (if intestate)

Question 9

Probate process can either be:

Answer 9

Formal OR Informal