What are non-probate assets? Give examples.
What will be an ideal response?
Any asset that passes to a beneficiary by operation of law is a non-probate asset. If it is a non-probate asset no court proceeding will be required to pass title of the property from the decedent’s estate to the beneficiaries. Examples include life insurance, POD (bank) or TOD (other financial institution) accounts and living trusts.
You might also like to view...
A Discovery Plan is a vital part of working through the discovery process of a case and is often developed by the litigation team and retained by the paralegal. List the five (5) forms of discovery most often included in a Discovery Plan, and give a brief description of the main reason for use of each form.
What will be an ideal response?
?When usingA.L.R.,which of the following should you consult to make sure you have the most updated information possible?
A. ?A.L.R. Blue Book of Supplemental Decisions B. ?A.L.R. Later Case Service C. ?Pocket-part supplements forA.L.R. D. ?All of these choices are correct.
Generally, paralegals may have business cards with the name of the firm on them.?
Answer the following statement true (T) or false (F)
An employee brings an action against the Department of Veterans Affairs (VA), alleging that the VA violated the Privacy Act by disclosing to his union representative his HIV-positive status and his use of marijuana for medical purposes. Discuss the purpose of the Privacy Act
What will be an ideal response?