I'm trying to figure out if probate will be necessary for my dad when the time comes. He's 96 and is doing fairly well - hopefully for a long time.
His situation:
All bank accounts are jointly owned between dad, me and my brother (only heirs).
Stocks accounts are all TOD
Car is jointly owned
House is TOD
The only property left that would be subject to probate would be household furnishings - worth maybe $5K, if that.
He has a Will leaving everything to my brother and I. Is probate even necessary in cases like this? Have others gone through this and not gone through any kind of formal proceedings? Thanks!
His situation:
All bank accounts are jointly owned between dad, me and my brother (only heirs).
Stocks accounts are all TOD
Car is jointly owned
House is TOD
The only property left that would be subject to probate would be household furnishings - worth maybe $5K, if that.
He has a Will leaving everything to my brother and I. Is probate even necessary in cases like this? Have others gone through this and not gone through any kind of formal proceedings? Thanks!