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Probate in common form is a type of probate that is granted by the registry without any formal procedure in court, on the executors ex parte application.
A probate asset might include personal items, real estate, vehicles, a bank account, and tenets-in-common assets. Not all property is considered a probate asset. Other assets are non-probate property. These assets bypass the probate process and go directly to beneficiaries or co-owners, no matter what the will says.
Some of the documents that are required for probate include: The deceaseds will. Death certificate. Inventory of assets and liabilities. Bank statements and financial records.
Pennsylvania Probate Process: A Step-by-Step Guide Filing the Will and Petition for Probate. Appointing the Executor or Administrator. Notifying Creditors and Beneficiaries. Inventorying the Estate. Paying Debts, Taxes, and Expenses. Distributing Assets to Beneficiaries. Closing the Estate.
Non-probate assets are those that do not require a courts involvement during the probate process, allowing for a smoother and quicker transfer to beneficiaries. These assets can include life insurance policies, retirement accounts, and properties held in joint tenancy, among others.
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One of the most common ways to avoid probate is to create a living trust. Through a living trust, the person writing the trust (grantor) must fund the trust by putting the assets they choose into it. The grantor retains control over the trusts property until their death or incapacitation.
Common examples of non-probate assets are life insurance proceeds, jointly-held property , will substitutes , and inter vivos trusts .

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