JESSON||RAINS ATTORNEYS AT LAW
  • Home
  • Practice Areas
    • Wills and Trusts
    • Business Law & Litigation
    • Construction Contracts and Litigation
  • Team
    • Edward Jesson - Attorney
    • Kelly Rains Jesson - Attorney
    • Danielle Nodar - Associate Attorney
    • Sue Lambert - Office Manager
    • ​Ashley Deese ​- Paralegal
    • Shayla Martin - Legal Assistant
  • News & Blog
    • COVID-19 Resources
  • Contact
  • Testimonials
  • Free Resources
    • Business Resources
    • Estate Planning Resources
    • Probate Resources
📞 704-444-0594

Blog

What exactly is my “probate estate”?

11/5/2020

5 Comments

 
Picture
By Attorney Kelly Jesson

At Jesson & Rains, we review our estate planning clients’ assets and liabilities in order to provide them with a thorough consultation as to the treatment of their assets and liabilities upon death.

Essentially everything a person owns when they die is included in their “estate,” including assets that pass outside of probate. This is also called your “taxable estate.” A “probate estate” consists of assets that go through court-supervised probate before getting to beneficiaries. During the probate process, the decedent’s will is filed, assets are collected, bills are paid, and then whatever is left goes to the beneficiaries per the will. Probate assets are singularly owned real, personal, and business property without rights of survivorship and without a beneficiary designated.

However, a lot of assets pass outside of the probate estate upon death. Life insurance or retirement plans with named beneficiaries, jointly owned property with rights of survivorship, and any other accounts or securities with pay on death or transfer on death designees (POD or TOD) are not included in the probate estate (unless the decedent names the estate as the beneficiary or the beneficiary has predeceased the decedent without a successor named).

Why does this matter? How assets pass at death determine whether a person could benefit from a will or trust. Sometimes, it’s necessary for attorneys to retitle assets in order to achieve estate planning goals and ease of transfer at death.

Each client is different. Some have complex interests in various types of property, some own property singularly or are not married, and some have a lot of debt that is cause for concern. Without a thorough consultation, your estate plan may not be complete. It is important for the attorney to get a complete picture in order to tailor your estate plan to your needs and wishes. Give Jesson & Rains a call for more information!
5 Comments
Mia Evans link
7/13/2021 11:35:55 pm

Thanks for pointing out that it is best to have an attorney to help you regarding retitling assets to achieve the estate planning goals you might have. I will keep that in mind now that I plan to prepare the properties that I have and name them to my kids if anything happens. This is important for a single mom like me to ensure that they are well-provided and sheltered if ever an incident comes my way.

Reply
Kelly Jesson
7/16/2021 10:53:18 am

Mia, thank you for your comment. If you are in North Carolina give us a call at 704-444-0594 when you are ready to retitle your assets.

Reply
Hailey Miller link
9/17/2021 08:06:22 pm

Thanks for pointing out that it may be necessary for attorneys to retitle assets in order to achieve estate planning goals and ease of transfer. My husband and I are preparing ahead for our five kids' futures by investing and saving up every month so this is really helpful. With this, we are also hoping to find a skilled attorney on Monday who can help us with estate planning to ensure no conflicts and confusion will arise among our loved ones.

Reply
Claire Masters link
3/18/2022 08:29:06 am

It's good to know how a probate attorney can have the power of transferring assets or real estate from a deceased owner. I would imagine how if this goes unprocessed, descendants may not be able to acquire them. I also wonder if the government has the power to acquired properties with no probate functions.

Reply
Kelly Jesson
3/31/2022 05:39:48 pm

Claire,
Thank you for your comment and reading our blogs!

Reply

Your comment will be posted after it is approved.


Leave a Reply.

    Subscribe to our newsletter.

    Subscribe

    Author

    Kelly Rains Jesson
    ​Edward A. Jesson

    Categories

    All
    529 Plans
    ADR
    Alternative Dispute Resolution
    Amendments
    Asset Protection
    Asset Purchase
    Assumed Business Name
    B-Corps
    Blockchain
    Business
    Business Formation
    Business Litigation
    Business Purchase
    Business Scam
    Buy/sell
    Civil Procedure
    Collections
    Community
    Construction
    Contracts
    Copyrights
    Corporations
    COVID 19
    Cryptocurrency
    Data Privacy
    DBA
    Default
    Dissolution
    Elder Law
    Employment
    Estate Planning
    Ethics
    Eviction
    Firearms
    Firearm Trusts
    FLSA
    Guardianship
    Health Care Directive
    Holding Company
    Intellectual Property
    Landlord-Tenant
    Liens
    Litigation
    Living Will
    LLC
    News
    No Surprises Act
    Operating Agreement
    Partnership
    Patents
    Power Of Attorney
    Probate
    Real Property
    Retirement
    Secretary Of State
    Small Business
    Trademarks
    Trade Secrets
    Transactional
    Trusts
    Wills

    RSS Feed

    View my profile on LinkedIn

      Contact us.

    Submit

    Archives

    March 2023
    February 2023
    January 2023
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    March 2016
    January 2016
    December 2015
    November 2015
    October 2015

Picture
Jesson & Rains, PLLC
5821 Fairview Road #218
Charlotte, NC 28209
(704) 444-0594
information@jessonrainslaw.com

By appointment only.

SERVICES

Wills & Trusts Probate
Business Law & Litigation
Construction Contracts & Litigation


Our Attorneys
Location

SUPPORT

Contact
Disclaimer
©Jesson & Rains, PLLC  ALL RIGHTS RESERVED.
  • Home
  • Practice Areas
    • Wills and Trusts
    • Business Law & Litigation
    • Construction Contracts and Litigation
  • Team
    • Edward Jesson - Attorney
    • Kelly Rains Jesson - Attorney
    • Danielle Nodar - Associate Attorney
    • Sue Lambert - Office Manager
    • ​Ashley Deese ​- Paralegal
    • Shayla Martin - Legal Assistant
  • News & Blog
    • COVID-19 Resources
  • Contact
  • Testimonials
  • Free Resources
    • Business Resources
    • Estate Planning Resources
    • Probate Resources