How does probate settle a deceased person’s estate?

Probate is the legal process of settling a deceased person's estate under court supervision. Its primary purpose is to validate a will, identify and value assets, settle debts and taxes, and distribute the remaining property to beneficiaries or heirs.1

The process generally follows these steps:

• Initiation: An executor (or an administrator if there is no will) files the will with the probate court, which then issues documentation authorizing them to act on behalf of the estate.12
• Asset Management: The executor gathers, safeguards, and determines the fair market value of the deceased's assets.12
• Notifications and Claims: Creditors and heirs are notified. Creditors are given a specific period to file claims against the estate.12
• Settlement: The executor pays valid debts, expenses, and taxes using estate funds.12
• Distribution and Closure: The court reviews the final accounting of the estate. Once approved, the executor distributes the remaining assets to the heirs and requests that the court formally close the estate.12

Not all assets go through probate; items such as life insurance, retirement accounts, and assets held in trust often transfer directly to beneficiaries.12