5 Property Types that Cannot Be Left in a Will

When it comes to inheriting property, will provisions are usually the guiding force behind the transfer. However, there are certain types of property that cannot be left in a will. Here are a few types of property that you cannot leave through a will. 

1. Joint Owned Property

Property that is owned jointly cannot be transferred through a will. Property that is owned by joint tenancy, tenancy by the entirety, or community property with right of survivorship cannot be transferred with a will.

2. Living Trust Property

If you put any possessions into a living trust, they will not go through a traditional will.

3. Life Insurance

Life insurance policies cannot be left with a will. The beneficiary that is named on the policy is going to determine who gets the money. The same is true with pensions and retirement accounts, such as a 401(k). The named beneficiary is going to get the assets. A bank account trust will also not fall under the jurisdiction of a will.

4. Transfer-on-Death

Accounts and deeds that are set up as transfer-on-death will also not go through a will. Instead, they are going to be automatically transferred. 

5. Superwill Statute

In Washington, you can utilize what is called the "superwill statute." This allows certain assets to be transferred outside of the probate process, and without a will.