Probate

What is Probate?

Probate is the legal process through which a deceased person's estate is managed and distributed. It involves validating the deceased's will, paying debts and taxes, and distributing the remaining assets to rightful beneficiaries. This process ensures the decedent's wishes are honored and provides a structured method for settling financial affairs. In estate planning, understanding probate is crucial because it can affect how efficiently and quickly your assets are transferred to your heirs. It's important for those planning their estates to consider strategies to simplify or avoid probate where possible, such as setting up trusts.