Do life insurance or retirement benefits need to go through probate?

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Video Transcript

Life insurance and retirement benefits are governed by a contract that is set up with the institution that handles that asset for you. If you name a beneficiary in that contract to receive the asset after you pass away, then often it can avoid probate and go directly to that beneficiary. If there is no beneficiary named on that contract, or if the beneficiary is deceased at the time that you pass away, then the asset may have to go through probate to get to the beneficiaries of your estate.

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