Simple English definitions for legal terms
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Nonprobate property refers to assets that are not subject to probate court proceedings upon the owner's death. These assets pass directly to the designated beneficiary or joint owner. Examples of nonprobate property include:
These examples illustrate how nonprobate property bypasses the probate process and goes directly to the designated beneficiary or joint owner. This can save time and money for the beneficiaries and avoid potential disputes over the distribution of assets.