Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

nonprobate

Read a random definition: RFP

A quick definition of nonprobate:

Nonprobate refers to a way of passing on property after someone dies that is not through a will. It can include things like joint ownership or beneficiary designations. Nonprobate assets are the things that are passed on this way. An asset is something that someone owns that has value, like money or property. There are different types of assets, like fixed assets (things used in a business) or current assets (things that can be easily turned into cash). Some assets are hard to sell or not worth anything, like a debt that can't be collected.

A more thorough explanation:

Definition: Nonprobate refers to a method of transferring property after someone dies, which is not done through a will. It can also refer to the property that is transferred in this way.

Examples: Nonprobate assets can include things like joint bank accounts, life insurance policies, and retirement accounts. These assets are transferred directly to the designated beneficiary without going through probate court. This means that the beneficiary can receive the assets more quickly and without the need for legal proceedings.

Explanation: When someone dies, their property and assets are usually distributed through a legal process called probate. However, some assets can be transferred directly to a designated beneficiary without going through probate court. These assets are called nonprobate assets. Examples of nonprobate assets include joint bank accounts, life insurance policies, and retirement accounts. These assets are transferred directly to the designated beneficiary, which can save time and money compared to going through probate court.

nonprivity | nonprobate asset

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.