Probate

Probate Definition

Probate is the legal act of distributing a person’s property between other people after the person’s death.

Explanation

The process examines the will and testament of a deceased to determine their validity and follows the instructions written in the will. Such a probate is called testate probate.

When a person dies without having made a written will or establishing a trust (intestate probate), a designated authority administers division of the estate based on legal guidelines.

Named beneficiary, unnamed beneficiary, heirs and interested parties are terms used during probate to describe the prospective recipients of the assets listed in a will.

The probate process varies by state, but some universal terms include the following.

A contested probate proceeding (called a formal probate in some states) challenges the will, asset inventory, appointment of executors, heirs, beneficiaries or interested parties. This requires a lengthy court examination to hear all challenges.

An uncontested probate (sometimes called an informal probate) is the most common type of proceeding. This process happens when the will is valid and doesn’t have any legal challenges. The court then follows the directions given in the will to distribute the assets.

An ancillary probate involves transferring the ownership of real property in one state when the probate is taking place in another state.

Small estate administration takes place in some states when the value of the estate is lower than a set amount. This type of probate typically avoids a court hearing.

Complex probate litigation is necessary when the will is contested, executors are challenged, asset totals are disputed or validity is challenged. This requires court hearings and can take years to resolve.

The total value of the estate and the beneficiary determine the probate procedures in some states.

The terms “full administration,” “relief from administration” and “summary release” are used to label the probate processes in those states.