Probate
Term | Definition |
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Probate | The court-supervised process by which a will is determined to be the will-maker's final statement regarding how the will maker wants his/her property distributed. It also confirms the appointment of the personal representative of the estate. Probate also means the process by which assets are gathered; applied to pay debts, taxes, and the expenses of administration; and distribution to those designated as beneficiaries in the will. |