Courtney Campbell's Plan | CREATE A PLAN

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Calculate the estate's total value

Calculating the total value of the estate is necessary for determining the appropriate probate process. Be sure to keep track of every probate asset and document their estimated values. There are some assets that bypass probate and shouldn't be a part of the estate. These assets include:
  • Jointly held property with
  • Beneficiary-named assets (life insurance, retirement funds, pensions)
  • accounts and deeds
  • Co-owned U.S. saving bonds
  • Vehicles that pass to immediate family members under state law
  • Household goods that pass to immediate family members under state law
Additionally, it's important to record all of Courtney's debts. Debts will need to be paid off and are considered when determining the total of the estate.