What is Probate?

Probate is the legal process used to validate a will, identify and gather a person's assets, pay debts and taxes, and distribute remaining assets to beneficiaries. Depending on the estate and state laws, probate can involve court oversight and may require time and expenses to complete. Some individuals use estate planning tools, such as trusts, to reduce or avoid probate, while others find probate to be an appropriate process for settling an estate.