Probate

Probate

Probate is a court proceeding required to transfer or administer assets owned solely by a person who is unable to transfer or administer these assets themselves, due to disability or death.

The most likely asset to trigger probate is real estate. Most people own the home they live in, and if they are single, divorced, or widowed, a trust should be created to own the real estate. Some trust companies offer "land trusts."