Which of the following is not an example of nonprobate property?
A) Life insurance with the named beneficiary as the estate
B) Life insurance with named beneficiaries
C) Pension plan distributions
D) Property held in trust for the benefit of another
E) Jointly held property

Question

Quizplus · Accepted Answer

Nonprobate property includes assets that pass directly to a beneficiary or are jointly owned and thus do not go through the probate process. Life insurance with named beneficiaries (B), pension plan distributions (C), property held in trust (D), and jointly held property (E) all bypass probate by directly transferring to the designated person(s). However, if a life insurance policy names the estate as the beneficiary (A), it becomes part of the probate estate and is subject to the probate process.

Which of the Following Is Not an Example of Nonprobate