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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.


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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.


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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The guidelines also include giving the trial court an option to suspend the videoconference proceeding if technical issues are observed that could possibly affect the fairness of the proceeding or if matters needing the detainee's physical presence in the court arise.
While, the house could not dispose of a single agenda item including introduction of bills and matter of K-electric in yesterday's proceedings.
3.7 millionWith this law, the Justice Ministry wants to help those who found themselves entrapped in debt due to old distrainment proceedings.
The notice of appeal was filed following the decision of the Shah Alam High Court on Tuesday to allow the 24th witness to be recalled to testify in this Friday's proceedings.
provides for cross border insolvency proceedings where a foreign element is involved (elaborated on further below).
'The House is not in order, so the proceeding is suspended till completion of the quorum,' he said.
Representing the Defence Ministry, Additional Solicitor General Pinky Anand alleged before the court that there are several criminal proceedings going on against AgustaWestland due to which arbitration proceedings can't be allowed to go on.
The Proceedings of the Estonian Academy of Sciences is open for international scientific community, and during the last decade more than a third of all published papers have been submitted from abroad.
There is also an application for stay of proceedings in the same appeal.
We are just on a pilot project," Justice Chandrachud said as a lawyer expressed his apprehension about its likely misuse and others wanted to further expand its scope by including transcription of the recorded proceedings.
Sakai's role in the revolution in Japanese insolvency proceedings during this important period makes this translated article a significant contribution to the English-language literature on Japanese insolvency law.
The counsel also referred to the Supreme Court's judgment of 2010, under then chief justice Iftikhar Muhammad Chaudhry, in which the court had held that the proceedings before the SJC were not a trial.

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