Probate
Definition
Probate is a legal process that takes place after someone dies.
The proceedings are public record and typically include
- validating the will (if it exists),
- appointing an Executor,
- inventorying assets,
- appraising property,
- paying debts and taxes, and
- distributing remaining assets.
If the person has a Will, the Executor appointment, asset distribution, and Beneficiaries are based on that document. Otherwise, the court will appoint an administrator and the state’s Intestacy Laws govern probate.
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