Can I transfer property without probate?

Yes, you can transfer property without going through probate in Virginia. In Virginia, there are a few ways you can transfer property without probate. The first is through joint tenancy, which is when two or more people own the property together. If one of the owners passes away, the other owners become the sole owners of the property without having to go through the probate process. Another way you can transfer property without probate is through a revocable living trust. When you move ownership of property into a revocable living trust, you can transfer it to another person once you pass away without having to go through probate. Additionally, you can transfer some smaller amounts of property, such as money in a bank account, without probate. If you have a bank account or other accounts that have a “payable on death” or “transfer on death” designation, you can transfer these accounts without probate. Lastly, you can also transfer some types of property, such as life insurance policies, without probate. If you name a beneficiary on the policy, the beneficiary will receive the money from the policy without having to go through probate. In summary, you can transfer property without probate in Virginia by using joint tenancy, a revocable living trust, payable on death accounts, and certain types of life insurance policies.

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