Probate is required whenever somebody dies with more than $188,000 in his or her name. Now, this is the gross value of the asset or the fair market value of the asset on the date of their death without subtracting any debts. And so if somebody owned a home, even if the home had a sizable mortgage, they will probably have to go through probate.
Probate is required regard regardless of whether there is a will or not. So if someone has a will and they own more than $188,000 their estate will still have to go through probate.
Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.