Probate

Probate
The legal process in which a will is reviewed to determine whether it is valid and authentic. Probate also refers to the general administering of a deceased person's will or the estate of a deceased person without a will. The court appoints either an executor named in the will (or an administrator if there is no will) to administer the process of collecting the assets of the deceased person, paying any liabilities remaining on the person's estate and finally distributing the assets of the estate to beneficiaries named in the will or determined as such by the executor.

Because of the costs of court involvement in the probate process and the potential for involvement of lawyers who collect fees from the estate of the deceased, many people try to minimize costs associated with the probate process. There are tremendous legal and tax complexities in the probate process, so it is advisable to have a will and speak with a lawyer and financial professional in order to insure that your loved ones are not left with the complicated and often messy task of distributing the assets of your estate upon your passing.


Investment dictionary. . 2012.

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  • probate — pro·bate 1 / prō ˌbāt/ n [Latin probatum, neuter of probatus, past participle of probare to test, approve, prove] 1 a: the process of proving in a court of competent jurisdiction (as a probate court) that an instrument is the valid last will and… …   Law dictionary

  • probate — pro‧bate [ˈprəʊbeɪt, bt ǁ ˈproʊbeɪt] noun [uncountable] LAW the process used to establish that a will (= a statement saying who you want to have your money and property when you die) has been properly made out, according to the law: • All joint… …   Financial and business terms

  • Probate — Pro bate, a. Of or belonging to a probate, or court of probate; as, a probate record. [1913 Webster] {Probate Court}, or {Court of Probate}, a court for the probate of wills. {Probate duty}, a government tax on property passing by will. [Eng.]… …   The Collaborative International Dictionary of English

  • probate — [prō′bāt; ] for n. [, ] Brit [, prōbit] n. [ME probat < L probatus, pp. of probare, to prove: see PROBE] 1. the act or process of proving before a duly authorized person that a document submitted for official certification and registration,… …   English World dictionary

  • Probate — Pro bate, n. [From L. probatus, p. p. of probare to prove. See {Prove}.] [1913 Webster] 1. Proof. [Obs.] Skelton. [1913 Webster] 2. (Law) (a) Official proof; especially, the proof before a competent officer or tribunal that an instrument offered …   The Collaborative International Dictionary of English

  • Probate — Pro bate, v. t. To obtain the official approval of, as of an instrument purporting to be the last will and testament; as, the executor has probated the will. [1913 Webster] …   The Collaborative International Dictionary of English

  • Probate — (engl., spr. Probet), 1) die Prüfung überhaupt: bes. 2) die Prüfung u. Bestätigung des letzten Willens; daher P. Court (spr. P. Kohrt), der Gerichtshof für Testaments , Erbschafts u. Vormundschaftsangelegenheiten …   Pierer's Universal-Lexikon

  • probate — ► NOUN 1) the official proving of a will. 2) a verified copy of a will with a certificate as handed to the executors. ORIGIN Latin probatum something proved …   English terms dictionary

  • Probate — Not to be confused with Probation. Wills, trusts and estat …   Wikipedia

  • probate — Court procedure by which a will is proved to be valid or invalid; though in current usage this term has been expanded to generally refer to the legal process wherein the estate of a decedent is administered. Generally, the probate process… …   Black's law dictionary

  • probate — /proh bayt/, n., adj., v., probated, probating. n. 1. Law. the official proving of a will as authentic or valid in a probate court. 2. an officially certified copy of a will so proved. adj. 3. of or pertaining to probate or a probate court. v.t.… …   Universalium

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