Do I have to probate will
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Do I have to probate will
I have all my bank accts and assets p.o.d. to my children.
However my car is in my name and about 2000 in
MetLife stock. Will this require me to go to probate and list
all assets and other paperwork?
Are those p.o.d. accts part of my estate for probate
purposes?
Asked on January 23, 2018 under Estate Planning, New Jersey
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
You are doing a little estate planning which is great. Make sure that everything says "with rights of survivorship" for the koint account holder. With stocks, New Jersey allows you to hold same "TOD" - Transfer on Death. Register the brokerage account that way and it will pass automatically - no probate. The only issue is the car. New Jersey does not allow transfer on death regiistration of vehicles. If you trust your kids, transfer it now. Otherwise, they can likely donate it later. Good luck. Be well.
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