When someone passes away, the terms “probate” and “intestate” have different meanings. The following briefly describes the two terms and their differences.
Probate is the process of administering a deceased person's estate and ultimately distributing an individual's net assets. As long as an individual passes away and leaves assets behind, the probate process occurs with or without the guidance of a will. The presence of a will makes the distribution of assets far simpler since it names beneficiaries and provides instructions for the distribution of assets.
Individuals who pass away without a will die "intestate" and leave behind an intestate estate. Further, if a court of law deems an existing will invalid, anything governed by the will becomes intestate. State law determines the final distribution of all intestate estates, but most states tend to divide assets among the deceased individual’s spouse and children. In the event that there is no valid will and no lineal descendants of the deceased person, the assets can be distributed to the state of residence of the deceased person.
Probate is the process of administering a deceased person's estate and ultimately distributing an individual's net assets. As long as an individual passes away and leaves assets behind, the probate process occurs with or without the guidance of a will. The presence of a will makes the distribution of assets far simpler since it names beneficiaries and provides instructions for the distribution of assets.
Individuals who pass away without a will die "intestate" and leave behind an intestate estate. Further, if a court of law deems an existing will invalid, anything governed by the will becomes intestate. State law determines the final distribution of all intestate estates, but most states tend to divide assets among the deceased individual’s spouse and children. In the event that there is no valid will and no lineal descendants of the deceased person, the assets can be distributed to the state of residence of the deceased person.