probate(redirected from Petition for probate)
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Related to Petition for probate: grant of probate, Probate estate, Probate Process
Probate is the process of authenticating, or verifying, your will so that your executor can carry out the wishes you expressed in the document for settling your estate and appointing a guardian for your minor children.
While the probate process can run smoothly if everything is in order, it can also take a long time and cost a great deal of money if your will isn't legally acceptable or it's contested by potential beneficiaries who object to its terms.
If you die without a will, the same court that handles probate resolves what happens to your assets based on the laws of the state where you live through a process known as administration. The larger or more complex your estate is, the greater the potential for delay and expense.
To prove the validity of a will. Probate courts generally oversee decedents' estates, the payment of bills,and the distribution of assets.Some states have exemptions for small estates,which may avoid probate.Other states have no exemptions.Probate will need to be opened in every state in which a decedent owns assets,including real estate,unless there is a specific state exemption.