Probate

Probate is the legal process by which title or ownership of property outlined in a will is transferred to the inheritor(s). The first step in the probate process is for the will to be located and presented to the court along with a probate petition. If an executor is named in the will, he or she generally performs this task. All of the deceased survivors, other persons named in the will, and any creditors must be notified of the petition promptly. At the hearing, the court will formally appoint the executor or an impartial administrator to represent the deceased person's estate. The validity of the will may be confirmed or contested at this point.

The executor or administrator handles the payment of outstanding debts to creditors and any other fees related to probate. He/she presents a record of all these transactions to the court. Once this process has been completed, the remaining property can be distributed as outlined in the will. Depending on the size and complexity of the estate, probate may take a year or more to wrap up. Not all assets are part of the probate process. For example, life insurance is handled separately and paid directly to the beneficiary named on the policy. Retirement accounts may also bypass the courts in the same way.

Fast Facts

  • The probate court is sometimes referred to as "surrogate court".
  • "Probate" is derived from the Latin word "probare", which means "to prove".

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