What property does not go through probate?

Probate is the process of distributing assets after a person passes away. In South Carolina, most assets that require probate are those where the deceased person held title in their own name, without any beneficiary designation. However, most property does not need to go through probate. Property that is held in a trust does not require probate. This includes most revocable living trusts that are created while the person is still alive. Property that is owned jointly with rights of survivorship also does not require probate. That means that if two people jointly own a house, the house would transfer to the surviving joint owner without the need for probate. Property that has a designated beneficiary, such as life insurance policies or retirement accounts, also does not need to go through probate. The designated beneficiary will receive the proceeds upon the person’s death and the funds will not be subject to probate. Finally, small estates may not need to go through probate. In South Carolina, if the estate is valued at $25,000 or less, probate may not be necessary. This means the beneficiaries can transfer ownership of the assets without going through the probate process.

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What property does not go through probate?

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