Probate

Probate

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Probate

Probate definition:  Probate is the legal process by which the state court determines the legal validity of a will, assigns an executor or administrator for an estate, transfers ownership of a deceased person’s property to the heirs, and addresses debts and settlement costs. Probate can be avoided through a number of will-substitutes.

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