What type of property is included in the probate estate?

The probate estate consists of all assets owned solely by a deceased individual at the time of their death, including properties that do not have designated beneficiaries or legal rights of survivorship. The correct answer pertains to property that is solely owned by the individual, which, in this case, is represented by property that is jointly owned with right of survivorship (JTWROS) while also acknowledging that the rights of ownership transfer automatically to the surviving owner upon death, therefore not necessitating probate.

Regarding the other choices: Trust-owned property, for instance, is not included in the probate estate because assets in a trust are transferred directly to the beneficiaries of the trust upon the individual's death, bypassing the probate process entirely. Similarly, life insurance with a named beneficiary pays directly to the designated beneficiary and is also outside the probate estate. Lastly, Payable on Death (POD) accounts also directly transfer to the specified beneficiary at the time of the account holder's death, negating the involvement of probate.

Therefore, JTWROS fits the criteria for consideration within probate, as it is only relevant to the deceased person's ownership interest and is subject to the rules governing such estates, despite the survivorship aspect.