Direct answer
Probate assets require a court process to transfer ownership, while non-probate assets bypass the court and go directly to designated beneficiaries or joint owners.
What are probate assets?
Probate assets are solely owned by the deceased person with no designated beneficiary. Examples include individual bank accounts, real estate owned only in their name, and personal property. To claim these as unclaimed property, you typically need court documents like Letters Testamentary.
What are non-probate assets?
Non-probate assets transfer automatically upon death. These include:
- Life insurance policies with a named beneficiary.
- Bank accounts with a Payable on Death (POD) designation.
- Retirement accounts with named beneficiaries.
- Property held in a living trust.
How this affects your claim
If an asset is non-probate, you generally only need to prove your identity and provide the death certificate. If it is a probate asset, the documentation requirements are stricter.
Oklahoma Estate Finders can help you determine the nature of the assets and organize the necessary paperwork. We are an independent private firm, and our services are optional. You can always search and claim property directly through the state for free.
Next Steps
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