Dictionary of Exit Planning Terms

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Probate

Probate is the legal process of administering the estate of a deceased person are resolving all claims and distributing the deceased person's property under a valid will. A probate court decides ability of a testator's will.  Probate interprets the instructions of the deceased, decides the executor as the personal representative of the estate, and adjudicates the interest of heirs and other parties who may have claims against the estate.