What Property Is Not Passed at Death By Your Will?

What Property Is Not Passed at Death By Your Will?

What Property Is Not Passed at Death By Your Will?

Property that is not passed by your will includes:

  • Real estate that is owned with another person as joint tenants with right of survivorship or as tenants by the entirety with a spouse (this property passes to the surviving joint tenant(s) and not according to a will;
  • Bank and other financial accounts owned with another person as joint tenants with right of survivorship or such accounts having a payable on death provision (this property passes to the surviving tenant(s) or payee(s) and not according to a will;
  • Insurance proceeds left to a beneficiary other than one’s estate (this property goes to the designated beneficiary; and
  • Retirement benefits in a plan such as a 401k plan that has a beneficiary designation such under which the estate is not the named beneficiary.