MSU Extension: How to Avoid Probate of Estates Valued at $100,000 or Less

When a person dies, the answers to the following questions will help a financial entity decide who is entitled to the funds in the account:

• Was the account jointly owned by the decedent with others, and if so, what are their names?

• Did the joint account say right of survivorship or without right of survivorship on the form?

• Did the joint account have a payable on death (POD) beneficiary designation or transfer on death (TOD) beneficiary registration?

• If the decedent was the sole owner, did they make a payable on death (POD) beneficiary designation or transfer on death (TOD) beneficiary...