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.
Download our free Family Office Report to learn more about the family office industry.
Read more Family Office Definitions
Tags: What is probate?, probate definition, probate family office, probate term, define probate, probate wealth management, probate multi-family office, probate single family office