Nonprobate assets - sustany/dvg GitHub Wiki

In trusts and estates, non-probate assets are assets in which the title has been transferred within a decedent�s lifetime, or assets in which transfer of title is controlled by a survivorship mechanism. Non-probate assets, in contrast to probate assets, change ownership outside of probate. Examples of non-probate assets include:

• Inter vivos gifts
• Tenancy by entirety
• Joint tenancy with right of survivorship
• Trusts

Nonprobate assets are sometimes considered in calculating the elective share, a mechanism that allows a surviving spouse to choose between an elective share calculation or under the decedent�s will. The inclusion of nonprobate assets in this calculation is determined by jurisdiction.