Before answering what assets pass according to one's will, we should explain what assets pass outside of probate, or not according to the will.
Certain assets pass by operation of law, outside of probate. For example, jointly held assets, that are listed as joint with rights of survivorship, pass to the survivor by operation of law, regardless of the terms of the will. Similarly, insurance left to a designated beneficiary will pass to that beneficiary outside of probate. The same applies to the beneficiary of a retirement account.
The assets passing by a will are those which do not have a designated beneficiary, are not held in trust for someone and are not held jointly with a surviving co-owner. If an asset is solely in the decedent's name, that asset should pass through probate and be distributed in accordance with the will. Depending on the amount of the estate however, some states have a streamlined procedure for small estate.
-- Sharon Kovacs Gruer
