SPEAK WITH A TEAM MEMBER (770) 920-6030

Download the Georgia Probate Handbook.

Learn Important Probate Essentials, including key things that go wrong in an estate, how to prevent them, and what to do if they happen.

 

    What assets are included in an estate in Georgia?

    By
    logos-image logos-image logos-image

    Determining what assets are included in an estate after someone passes away, is a key issue. 

    All property that the deceased owned must be put into one of two categories: it is either a probate asset or a nonprobate asset.  The property is handled differently depending on which category that property is in.

    My name is Erik Broel & I am the founder & CEO of Georgia Probate Law Group.

    What assets are included in an estate

    At our firm we help families who have lost a loved one navigate the complex and confusing legal process so they can make sure the estate is handled properly and their loved one’s memory is honored.

    Each item of the deceased’s property must be put into one of two categories: it is either a probate asset or a nonprobate asset. These categories help us determine what assets are included in the estate.

    Probate Assets

    What assets are included in an estate

    Probate assets are considered to be part of the probate estate.  That means that they are governed by the probate court process and managed by the executor or administrator of the estate. 

    Probate assets are subject to creditor’s claims, which means that the executor or administrator could be forced to sell them if the estate does not have enough funds to pay its debts. 

    Probate assets will be distributed according to the terms of the will, or Georgia law if there is no will. 

    Nonprobate Assets 

    What assets are included in an estate

    Nonprobate assets are not considered part of the probate estate. 

    Instead, nonprobate assets go directly to an individual and skip probate all together. 

    That means that they are not governed by the probate court process and are not managed by the executor or administrator. 

    Related Topic:  2021 Changes to Georgia Probate Code – Part 2

    Nonprobate assets are not subject to creditor claims and a creditor cannot force the recipient of a nonprobate asset to use it to pay an estate debt. 

    Since nonprobate assets go directly to an individual and do not go into the estate, nonprobate assets are not governed by the will.

    The default rule is that all assets are considered probate assets unless there is an exception that would cause the property to be considered non probate property.

    Next Step 

    Everything discussed in this article is for general information and is not legal advice. If you are in a situation where you need help determining what assets are included in the estate, I recommend you reach out to our office at (770) 920-6030 to set up a consultation.


    If you’re not quite ready for a consultation, be sure to download our Georgia Probate Handbook so you know how the estate is supposed to be handled.

    What assets are included in an estate
    MORE FROM OUR BLOG

    After a loved one passes away, it is not uncommon to want to begin handling their affairs right away. Often, one of the first things the family will want to access the deceased’s bank accounts. Unfortunately, they quickly learn that the bank will not speak with them or give them any information, l...

    What happens if it is discovered that the deceased had dementia when the Will was created? Does that mean that the Will is automatically invalid or that the Probate Court will not accept it?  We will discuss these questions in this post. My name is Erik Broel & I am the founder & CEO of ...

    When can the Estate cover attorney's fees?  This is a common question with a somewhat complicated answer.  We’ll cover the basics in this post. My name is Erik Broel & I am the founder & CEO of Georgia Probate Law Group. At our firm we help families who have lost a loved one navigate ...

    © 2021 Georgia Probate Law Group by Broel Law, LLC. All rights reserved.