Nonprobate Property

Your will has no effect on nonprobate property. Not all property interests that are yours during life remain behind in your estate upon your death. For example, your life insurance policy already has a designated beneficiary. Upon your death, the proceeds from your life insurance policy pass to the designated beneficiary without ever passing through your estate. Thus, your will has no effect on the disposition of the proceeds from your life insurance policy. Similar examples include IRAs, annuities, pensions, and trusts. A different example is property that you jointly own. An owner’s death extinguishes his or her interest in the jointly owned property. No property interest remains behind for the estate to collect. A will thus has no effect on jointly owned property. These examples are all nonprobate property.

Contact Me

If you have any questions or comments, please feel free to contact me. My phone number, mailing and email address are as provided:

Attorney Andrew P. Mongin

P.O. Box 11712

Green Bay, WI 54307-1712

(920) 288-2080

info@apmonginlaw.com

This website does not provide legal advice. The information within this website is promotional and might not apply to your particular situation. No warranties or representations are made as to the accuracy of the information on this website. Please seek the advice of an attorney should you have any questions.