What Is Probate?

Probate is the legal procedure by which the assets of a deceased person are passed to others. If the decedent left a Will (called testate), that document determines who will receive the assets (known as beneficiaries) at death. If the decedent died without a will (called intestate), each state's laws determine how assets will be distributed. Assets can include cash, personal possessions, real estate, retirement and bank accounts, insurance, automobiles, and any other items of value that were owned by the decedent at the time of death.

When a death occurs, the personal representative (also known as “executor” or "executrix") has the following obligations to the Court and the estate beneficiaries:

Discover and value all assets of the decedent
Notify all interested parties and the Court of the personal representative’s appointment and

commencement of the estate administration

Pay all taxes and financial obligations of the decedent and the estate
Properly account to the Court and to parties interested in the estate for all property

and funds received and disbursed by the personal representative

After obtaining court approval, distribute the estate assets to those entitled and close the estate

Because every estate is unique, the timeline for probate varies accordingly. On average, the process can take anywhere from 6-12 months.

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Probate Glossary

AFFIDAVIT

a written statement confirmed by oath or affirmation, for use as evidence in court.

ADMINISTRATOR

Someone who is named to take charge of an estate or the assets of an person who has died without leaving a will or formal instructions.

CERTIFIED

Something that has been officially approved or issued by a recognized authority such as a certified death certificate from the County Health Department or a document from an attorney or financial institution.

DECEDENT

The person who has passed away.

ESTATE

The items owned by the decedent at the time of death. Can include personal and real property, as well as retirement accounts, insurance, automobiles, art, jewelry, and other assets.

EXECUTOR

An executor is a person appointed in a will to manage the estate of a deceased person. The executor's duties include paying debts, distributing assets, and ensuring the wishes of the deceased are carried out.

INHERITANCE

Inheritance is the legal process of transferring a person's property to another person after their death. It can include real estate, cash, stocks, and other assets.

LIEN

A lien is a legal claim or security interest against a property or asset that is used to secure a debt. A lien gives the creditor the right to take possession of the property if the debtor doesn't fulfill their obligations.

NOTARY

Also known as a Notary Public. A notary public is a public official who verifies the authenticity of documents and signatures, and administers oaths. Notaries are appointed by state governments to serve as impartial witnesses to legal transactions.

TRUST

A trust is a legal arrangement where a person (the trustee) holds assets for the benefit of another person (the beneficiary). The person who creates the trust is called the grantor or settlor.

WILL

A will is a legal document that states how a person's assets and property should be distributed after their death. It's also known as a last will and testament.