Non-probate assets

{
  "id": "MLC-T-LAW-003452",
  "term": "Non-probate assets",
  "field": "Law",
  "definition": "Assets that transfer directly to beneficiaries upon the owner's death without passing through the probate court process. These assets are typically governed by contracts or titling arrangements that designate a beneficiary or co-owner. Examples include life insurance policies, retirement accounts with named beneficiaries, and property held in joint tenancy with right of survivorship.",
  "url": "https://mlchart.com/terminology/law/non-probate-assets/"
}