What Methods Exist to Avoid Probate, or to Establish Non-Probate

question 92

Multiple Choice

What methods exist to avoid probate, or to establish non-probate property?

• A) gifts
• B) trusts
• C) contracts like life insurance and retirement plans
• D) joint ownership
• E) all of the above

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Definitions:

Reasonable Effort

The degree of diligence and attention expected under certain circumstances, typically what a reasonable person would do.

Nonconforming Goods

Merchandise that does not meet the specifications or requirements as outlined in a contract.

Not a Merchant

Refers to an individual or entity that does not engage in buying, selling, or trading of goods or services in a particular market, and thus may not be held to certain legal standards applicable to merchants.

Return the Goods

The process of a buyer sending previously purchased products back to the seller, usually under conditions specified in the return policy.