Do assets pass to a beneficiary who dies during probate?
When a loved one passes away, surviving family members often want to get the final affairs managed as quickly as possible. Some may want to do this to ensure that their loved one's final wishes are followed, and others may be eager to receive their inheritances. Of course, probate can take time and some events could complicate the process.
One issue that some Tennessee residents may not know how to handle is if a beneficiary passes away during the probate of another estate. This is not a wholly unusual situation. Still, if the beneficiary was entitled to assets, the other beneficiaries and executor may want to know what will happen to that person's portion of the assets.
In short, the assets left to a beneficiary who passes away during probate will pass to that person's estate. As an example, if three beneficiaries were to sell a home and split the proceeds, the division would still go three ways even after one beneficiary's death. That person's portion would pass to his or her estate, and the probate proceedings for that estate will determine what happens to that person's portion.
While this may seem simple in theory, the death of a beneficiary can cause delays for a probate process that is already underway. If Tennessee residents find themselves facing this type of ordeal, they may wonder what to do. Fortunately, they can work with their legal counsel to understand the correct way to handle distributing the assets of a beneficiary who passes away during estate administration proceedings.