Fixed Fee For Probate In Pennsylvania
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In Pennsylvania, you can use a summary probate procedure when estates are worth less than $50,000 (not including funeral costs, real estate and allowable family payments).
In Pennsylvania, you are not required to hire a lawyer for probate, but the process can be complex and time-consuming. To ensure all your legal bases are covered and required petitions and forms are filed in a timely manner, seeking the counsel of experienced probate and estate lawyers can be extremely helpful.
Non-Probate Assets Joint bank accounts. Joint brokerage accounts. Real estate held in joint tenancy. Vehicles held in joint ownership.
Designating beneficiaries on financial accounts, like bank accounts and retirement plans, is also a smart move. By naming beneficiaries, these accounts can transfer directly to them upon your passing, bypassing probate. In Pennsylvania, an estate needs to go through probate if it's worth more than $50,000.
In some cases, certain assets may be transferred directly to the beneficiary without going through probate. This can include assets with designated beneficiaries, such as life insurance policies, retirement accounts, or payable-on-death (POD) accounts.
In Pennsylvania, you can use a summary probate procedure when estates are worth less than $50,000 (not including funeral costs, real estate and allowable family payments).
A common example of a non-probate asset is a family home that is owned by two people (such as a husband and wife) in Joint Tenancy with Right of Survivorship (JTWROS). When a home or other property is owned in this way, the property automatically becomes the property of the surviving owner when the other owner dies.
