When someone passes away, not all assets are handled the same way. Understanding the difference between probate and non-probate assets can help you manage an estate more efficiently, especially when real estate is involved.

 

Probate Assets

These go through the court process and include:

  • Solely owned real estate
  • Bank accounts without a beneficiary
  • Personal belongings

 

Non-Probate Assets

These pass directly to beneficiaries and include:

  • Jointly owned property
  • Life insurance policies
  • Retirement accounts with named beneficiaries

 

If you’ve inherited a home in the Columbia, SC area, knowing how it’s titled is key to understanding how and when you can sell it.

Need help navigating inherited property? Contact us at delaney@thehighlandcompanyre.com for expert guidance on probate and estate-related real estate.