- nonprobate assets
Assets left by a deceased person that do not go through probate court proceedings before being transferred to those who inherit them. Common examples are life insurance proceeds, property held in joint tenancy, community property, and property held in a living trust.Category: Wills, Trusts & Estates → Estates, Executors & Probate Court
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.