Probate Overview

Probate is the legal process through which the court decides how your property will be divided.

If you have a will, the court will review that document to determine your wishes and will follow those wishes unless the will is successfully contested by your heirs.

Probate is not be required in many states if the value of the estate is less than $50,000. However, if a will includes real estate or provides for minor children, a formal probate action is generally required.

The probate process can be expensive. If you want to avoid probate, you may consider estate planning vehicles including joint tenancies, pay on death accounts and living trusts.