What property does not go through probate?

In Minnesota, there are certain types of property that do not have to go through the probate process. These types of property are known as non-probate assets. Non-probate assets include property that is jointly owned, property that is held in a trust, or property that has a designated beneficiary, such as life insurance policies or retirement accounts. Assets that are transferred by a will also do not need to go through probate. Other items that do not require probate are assets held in a living trust, or those with a designated pay-on-death or transfer-on-death beneficiary. Another type of non-probate property is real estate located in another state that is held as co-tenancy with a right of survivorship, so that the surviving co-owner automatically owns the property upon the death of the other tenant. In Minnesota, any property that is held solely in the name of the deceased will go through the probate process. This includes any assets that do not have a designated beneficiary, such as bank accounts, stocks, bonds, personal property, and vehicles. When a person dies and leaves behind any assets that are subject to probate, those assets must be filed in the appropriate court for probate in order to transfer them to the named beneficiaries.

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What property does not go through probate?

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