Non Probate Transfer. And he or she may sell it encumber it or transfer it without the knowledge or consent of the named beneficiary. It is very imporant to understand how non probate.
First because nonprobate assets do not need to go through the probate process the property is available immediately. Therefore there is increased privacy under nonprobate transfers. Types of non probate transfers beneficiary deed a beneficiary deed is a deed that conveys title of a parcel of real estate from the grantor or.
If mary wants everything to go to her son john then shed need to change those non probate transfers too.
If mary forgets to do so the bulk of her wealth will go to her brother sam and her sister jane. We will deal with legal tax estate administration property matters. In 2009 in the state of indiana legislation was passed that allows real estate owners to name who they want to inherit their property after they die without having to create a will. Property that is held in joint tenancy or as tenants by the entirety.