What Is Probate?
Do I need a will? What are the benefits of a trust? What to do after the death of a loved one.
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What Is Probate: |
The word probate comes from the Latin root, “probs,” which means “to probe.” Probate is a process that the courts use to transfer title to property and make sure your debts are paid after you die. It is usually associated with the distribution of property through your will. When an estate is probated, property of value is usually transferred to the new owners. Probate is not automatic; it must be requested by an individual or family member. If you become physically or mentally disabled and you inherit property, a process similar to probate can occur while you are alive. This process is called Conservatorship and it allows the court to take control of all proceeds. In short, probate is a legal procedure used by the courts to transfer the title of property. This can include real estate, automobiles, stocks and bonds, money, etc.
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