Probate

Definition: Probate is the court-supervised process of locating and determining the value of the assets owned in the individual name of a deceased person, referred to as a "decedent," paying the decedent's final bills and estate taxes (if required), and then distributing what's left of the decedent's assets to his or her heirs. Probate is generally governed by the laws of the state where the decedent lived on the date of death. If the decedent owned real estate and/or personal property outside of their home state, however, then probate will be governed by the laws of the state where the real estate and/or personal property is located, and this is referred to as ancillary probate.

How to Open a Probate Estate