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Increased Asset Value Limits to Avoid Probate

On Behalf of | Sep 1, 2013 | Publications & Presentations

You can avoid probate only if the assets you hold in your name do not exceed $100,000 of real property or $75,000 in personal property (cash, accounts and tangible personal property). This is increased by $25,000. If more than $5,000 of wages are to be paid, then probate is needed. The wage amount was not increased. Sharon Ravenscroft and Heather Lyons recommend that clients be sure to utilize their pay on death designations and transfer on death designations or title assets in a revocable living trust.