(1) A decedents nonprobate estate includes the decedents fractional interest in property held by the decedent in any form of survivorship tenancy immediately before the death of the decedent. The amount included in the decedents nonprobate estate under the provisions of this subsection is the value of the decedents fractional interest, to the extent the fractional interest passes by right of survivorship at the decedents death to a surviving tenant other than the decedents surviving spouse. (2) A decedents nonprobate estate includes the decedents ownership interest in property or accounts held immediately before death under a payable on death designation or deed, under a transfer on death registration or in co-ownership registration with a right of survivorship. The amount included in the decedents nonprobate estate under the provisions of this subsection is the value of the decedents ownership interest, to the extent the decedents ownership interest passed at the decedents death to any person other than the decedents estate or surviving spouse or for the benefit of any person other than the decedents estate or surviving spouse. (3) A decedents nonprobate estate includes any property owned by the decedent immediately before death for which the decedent had the power to designate a beneficiary, but only to the extent that the decedent could have designated the decedent, or the spouse of the decedent, as the beneficiary. (4) A decedents nonprobate estate includes any property that immediately before death the decedent could have acquired by the exercise of a revocation, without regard to whether the revocation was required to be made by the decedent alone or in conjunction with other persons. (5) A decedents nonprobate estate does not include the present value of any life insurance policy payable on the death of the decedent. (Surviving Spouses Estate)
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