What property is included in a decedent’s estate?
Probate property consists of those assets that a decedent owned in his or her sole name at death and property in which a will substitute or automatic succession of ownership fails. An example of such a failure is a beneficiary designation that names a person who has predeceased the owner. Real estate held in the deceased sole name or in the name of the decedent and another as a tenant in common is probate property. Additionally, if a life insurance policy, annuity contract or individual retirement account that is payable to the decedent’s estate or does not designate an individual or charity it is also probate property.
