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Which of the following account registration types is subject to probate upon the death of the account owner?
Suggested Answer: A
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Accounts held individually are subject to probate, which is the legal process of administering the decedent's estate. Probate determines the distribution of assets according to the deceased's will or state intestacy laws.
A is correct because individual accounts require probate to transfer assets.
B is incorrect because irrevocable trusts bypass probate.
C is incorrect because TOD accounts allow direct transfer of assets to named beneficiaries without probate.
D is incorrect because JTWROS accounts transfer ownership to the surviving account holder automatically.
34 comments · newest first
VI
Vicki
11 months ago
Really? I’m surprised by that info!
CA
Casey
11 months ago
Wait, I thought TOD accounts didn't?
MI
Micah
12 months ago
Actually, JTWROS avoids probate too.
ME
Merissa
12 months ago
Totally agree, it's a hassle!
JA
Jade
1 year ago
Individual accounts go through probate.
RE
Rebbecca
1 year ago
I believe JTWROS accounts don’t go through probate since the surviving owner takes over, but I could be wrong.
MA
Marget
1 year ago
I’m confused about TOD accounts. Do they bypass probate or not? I feel like I need to double-check that.
EZ
Ezekiel
1 year ago
I remember practicing a question like this, and I think irrevocable trusts avoid probate, right?
RE
Ressie
1 year ago
I think individual accounts go through probate, but I'm not entirely sure about the others.
ZA
Zack
1 year ago
I'm a little unsure about this one. I'll need to review my notes on the different account registration types and their probate implications.
OL
Olga
1 year ago
I'm pretty confident the answer is C. Transfer-on-death accounts bypass probate, so that must be the one that's subject to it.
MI
Minna
1 year ago
Okay, I've got this. The individual account is the only one that would be subject to probate, since the other options have special provisions for transfer upon the owner's death.
LE
Leandro
1 year ago
Hmm, I think the key here is to focus on which account type is subject to probate. That should help me narrow it down.
AR
Arlette
1 year ago
This question seems straightforward, but I want to make sure I understand the differences between the account types before selecting an answer.
ME
Melodie
2 years ago
Probate, schmobate! I'm gonna go with JTWROS and let my loved ones duke it out later. Keeps things interesting, you know?
NO
Noel
2 years ago
Individual registration is definitely subject to probate, so not the best choice.
GR
Graham
2 years ago
I'm not sure, but I think Irrevocable trust also bypasses probate.
TA
Talia
2 years ago
I think TOD might be a better option, avoids probate altogether.
KR
Kris
2 years ago
I agree, JTWROS is the way to go. Let them figure it out later!
VA
Vanda
2 years ago
I'm not sure, but I think Irrevocable trust accounts are also subject to probate.
HA
Haydee
2 years ago
I agree with Delsie, because Individual accounts are subject to probate.
ST
Stephaine
2 years ago
Irrevocable trust? More like 'irremovable headache' if you ask me. I'll pass on that one.
BR
Broderick
2 years ago
D) Joint tenants with right of survivorship (JTWROS)
MA
Margot
2 years ago
C) Transfer-on-death (TOD)
HA
Haydee
2 years ago
A) Individual
YA
Yaeko
2 years ago
Individual account? Sounds like a recipe for family drama after I'm gone. I'll go with the TOD instead.
DA
Darrin
2 years ago
Joint tenants with right of survivorship (JTWROS) is also a good choice to avoid probate.
RH
Rhea
2 years ago
Definitely, TOD avoids probate and makes things easier for your loved ones.
AL
Alonso
2 years ago
I agree, I think Transfer-on-death (TOD) is a better option.
JU
Julie
2 years ago
Individual account? Sounds like a recipe for family drama after I'm gone.
DE
Delsie
2 years ago
I think the answer is Individual.
DA
Darci
2 years ago
Probate? No thanks, I'll take the JTWROS option and avoid that whole mess.
KR
Kristofer
2 years ago
I think I'll go with the Transfer-on-death option just to be safe.
LO
Lore
2 years ago
I agree, JTWROS is definitely the way to go to avoid probate.