Real property is any land or buildings that a person owns. In Texas, these assets must go through probate, unless they have been placed in a trust or have a designated beneficiary. To avoid the probate process, property owners can use strategies like a revocable living trust or transfer on death deed.

Real estate owned by the deceased person is subject to probate in Texas. Whether it’s a vacation home, rental property, or the primary residence, the probate court must distribute the assets according to the will or Texas intestacy laws if there is no will. Probate is needed even if the property has been owned jointly with a right of survivorship or designated as payable on death (POD).

Tangible personal property includes any physical items owned by a person, such as furniture, artwork, and jewelry. If the value of the tangible personal property is over $75,000 in Texas, probate is required. However, if it is less than $75,000, beneficiaries can use a small estate affidavit to transfer ownership.

Bank accounts and securities must go through probate if they don’t have designated beneficiaries. These assets can be made “payable on death” or “transferable on death” by setting up the appropriate records and paperwork in your bank or investment account. It’s crucial to name a beneficiary to these accounts to avoid probate.

Intangible personal property includes assets like bank accounts, stocks, and intellectual property. These assets must go through probate unless they have a named beneficiary or a designation as payable on death (POD) or Transfer on death (TOD).

Personal property, such as works of art, collectibles, jewelry, furniture, and other household items must pass through probate if there is no designated beneficiaries or transfer on death provisions in place. It is unwise to name specific beneficiaries in a will for every piece of personal property if there are no special individuals to inherit the items. Personal property perished without a will typically splits evenly among the closest family members.

Life insurance policies and retirement accounts will typically have named beneficiaries. As such, they do not go through probate, and beneficiaries will receive these assets directly.

Retirement accounts like 401(k) plans, IRAs, and annuities typically pass to beneficiaries and do not go through probate. However, if there is no designated beneficiary or the named beneficiary has died, the account is subject to probate.

Property owned jointly by two or more people with rights of survivorship in Texas becomes sole ownership of the surviving owner after the other owner's death, and probate will not be required.