What is the process of probate?

Probate is a legal process that occurs after someone passes away, during which a court oversees the administration and distribution of the deceased person's estate. The role of probate is to validate the deceased person's will (if one exists), appoint an executor or personal representative to carry out the terms of that will, and ensure that all debts and taxes of the deceased are settled before distributing any remaining assets to the heirs or beneficiaries.

This court-supervised process serves several important functions. It ensures that the decedent's wishes, as outlined in their will, are honored and that the distribution of assets is conducted fairly and according to applicable laws. It also provides a mechanism for creditors to make claims against the estate for debts owed by the decedent.

The other choices do not accurately capture the essence of probate. Evaluating investment performance refers specifically to assessing how well investments have performed, which is not related to the settling of an estate. Management of trusts typically involves administering assets placed into a trust during a person's lifetime, which is a different legal structure than probate. Selling a decedent's assets to pay debts may occur during the probate process, but it does not encompass the entirety of what probate entails. Thus, the correct understanding of probate as a court-supervised process for settling