probate


Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia, Wikipedia.

Probate

The process by which a will is authenticated and carried out. That is, probate ensures that the will is in fact the decedent's final wishes and that everyone is receiving what they ought to receive. The executor of the estate usually handles probate, but his/her actions can be challenged in probate court. Some property, notably property co-owned with a spouse, is exempt from probate.

probate

The proof that a will is valid and that its terms are being carried out. Probate is accomplished by an executor/executrix who is paid a fee based on the size of the estate that passes through the will. Certain trusts and jointly owned property pass to beneficiaries without being subject to probate and the attendant fee. See also nonprobate property.

Probate.

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.

probate

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.

References in periodicals archive ?
The beneficiaries of the probate estate bear the burden of these costs, even when they are generated by assets passing in non-probate form.
In addition, the firm offers a full range of legal services to private clients including personal injury, employment, probate, wills and residential conveyancing.
Even those familiar with the probate exception may be surprised at
Main, a professor of history at the University of Colorado at Boulder, finds Bellesiles' claim that probate inventories were complete "incredible.
lt;B Afonwy Pryce-Howell has been appointed to the Robertsons probate team
The problem is that every financial institution seems to have a different level at which probate is required.
For example, our analysis of claims last year found the average time to get probate was 16 months.
An instrument dated the 3rd day of October 2014, was, on the 14th day of July, 2017, admitted to Probate as the Last Will and Testament of the above-named Decedent without the appointment of a personal representative.
To learn more about how you we can help you before the probate court, please call (310) 337-7696 or visit www.
Currently there is a flat fee of PS155 for grants of probate if the process is handled by a solicitor and PS215 when the application is made directly by the executor.
The Florida Probate Rules Committee had a productive year.