The Probate Inventory

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Probate inventory is a list of assets made and delivered to the probate court which then becomes public record. Learn about probate inventories from an estate planning and probate lawyer in this free video on estate law.

Part of the Video Series: Estate Planning
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Video Transcript

One of the worst things about probate is that when somebody passes away, a listing of their assets is made and delivered to the court. This is called the probate inventory. The probate inventory does not include life insurance policies unless they're payable to the estate. It does not include retirement accounts, or annuities, unless they're payable to the estate. But any asset the deceased owned when the deceased passed away is typically listed. It's listed by the financial institution where the money was when the deceased passed away. It can be listed by the amount that were in those accounts when the deceased passed away. Real estate is also listed, and the value of the real estate, and the description of the real estate is listed. A lot of salesmen, a lot of salesmen, work the obituaries and work the probate files to know who to call to sell things to. So really we have a predator problem in the probate process.

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