What happens to a non probate assets if all designated beneficiaries or joint owners predecease?
If all designated beneficiaries of non probate assets predecease the owner, the asset will become a part of the owner’s estate and be distributed to those persons entitled to receive the assets. If all joint owners die, the non probate asset becomes a probate asset of the estate of the last to die and it will be distributed with the other assets. Some financial institutions allow owners to designate contingent beneficiaries if the primary beneficiary dies before the owner of the asset.
