What is probate & how does it work?

Probate is a legal process that occurs after a death. In most cases, probate is a key part of settling the estate of a deceased person. In fact, probate may also be referred to as “estate administration.” During the probate process, the assets of the deceased person (the decedent) are formally transferred to their new owners.

What is a probated estate?

Probate is a procedure to ask the court to: Probate is not always required in order to administer an estate. The type of assets in the estate usually determine whether an estate should be probated. If the deceased owned real property or assets held by a financial institution, the estate normally has to be probated.

What is a small estate for probate?

As of April 1, 2021, a small estate is defined for probate purposes as an estate that is valued at $150,000 or less. You can use a simplified process if you are applying for probate of an estate that is valued at $150,000 or less. The process is set out in the: