Exempt Property (Probate) Law and Legal Definition
Exempt property is property that cannot be passed down by will or claimed by creditors of the deceased in the event that a decedent leaves a surviving descendant. Exempt property includes household furnishings, appliances, cars, and personal effects. However, estate property does not include the probate estate if valued below a certain amount. Beneficiaries have a priority to exempt property over claims, except homestead and family allowance claims.