(a) Nonprobate assets are not covered by this chapter.

(b) Nonprobate assets means those rights or interests of a person having beneficial ownership of an asset that passes on the person’s death under a written instrument or arrangement existing at the time of the decedent’s death other than the person’s will or by descent and distribution under this chapter. “Nonprobate asset” includes, without limitation, a right or interest passing under a joint tenancy with right of survivorship, joint bank account with right of survivorship, payable on death bank account, transfer on death security or security account, a conveyance that has been postponed until the death of the person, or a trust that becomes effective or irrevocable only upon the person’s death. [Ord. 53 § 8105, amended, 10/30/2018; Ord. 50B § 8105, amended, 6/22/2017.]