What is exempt from probate in pennsylvania.I know IRA'S are exempt but is anything else.
1 Answer from Attorneys
Non-probate assets are named beneficiary-designated assets like life insurance, pensions, IRAs, annuities and the like. Also, joint checking accounts owned by a decedent and one or more other people are non-probate assets. Things like land owned either between a husband and wife as a tenancy by the entireties or as a joint tenancy with a right of survivorship is likewise a non-probate asset.
I would not rely necessarily on these non-probate devices for estate planning. While you may be able to minimize probate you cannot eliminate it totally and you will still need a will or trust. I don't know what you own or how its titled so I suggest that you sit down with an experienced estate planning lawyer in your area and consult with the attorney as to the best estate plan for you. In addition to a will or trust, you should have a power of attorney for finances and health as well as a living will.
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