nonprobate assets
- Assets left by a deceased person that bypass probate court proceedings and are directly transferred to the inheritors; commonly includes life insurance proceeds, jointly owned property, community property, and assets in a living trust
- Upon his father's passing, he found that most of the estate comprised nonprobate assets, simplifying the inheritance process.
- Several nonprobate assets, like the life insurance and jointly owned condo, passed directly to the beneficiaries.
- By holding his properties in a living trust, he ensured that his wealth got transferred as nonprobate assets.
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