Probate

Probate is the legal process of validating a deceased person's will, confirming it as their final testament, and authorizing the executor to distribute the estate according to the will's instructions. If no will exists, probate involves appointing an administrator to settle the estate based on provincial or territorial laws. The probate court oversees the identification and valuation of the deceased's assets, the payment of any debts or taxes, and the distribution of the remaining assets to the beneficiaries or heirs.

Key aspects of probate include:

1. Will Validation: Confirms the authenticity of the will and its executors.
2. Asset Distribution: Allows for the legal distribution of the deceased’s assets.
3. Debt Settlement: Ensures all debts, taxes, and obligations are settled before distribution.
4. Court Supervision: The probate court monitors the process to ensure legal compliance.

Probate is typically required to legally transfer assets to beneficiaries, especially for large estates or those with significant assets.