What is probate?

Probate is the court-supervised process of settling someone's estate after they die. It involves validating the will, paying off debts and taxes, and distributing what's left to the heirs. It typically takes about six months to a year, and longer if someone contests the will or the estate is complicated. Many people use living trusts and beneficiary designations specifically to keep assets out of probate, since the process can be slow, public, and add up in costs.