All assets owned by you in your own name, not in joint tenancy, in trust or with a beneficiary designation, are subject to probate administration when you die.
Your property will be categorized as probate or nonprobate property. Probate property is property that will be transferred by the provisions of your will. Nonprobate property is property that is either jointly held and passes by right of survivorship, is directed by beneficiary designation, such as an IRA or a life insurance policy, or passes according to the terms of a trust. If you die without a will, your probate property will be distributed to your heirs at law and the Probate Court will appoint an administrator to oversee the distribution of your property.
The executor of your will is responsible for seeing that your debts, expenses and taxes are paid, your probate property is distributed according to the will's terms and your nonprobate property is received by the designated beneficiary.
