Probate is a legal process where a court overseas the distribution of assets left by a deceased person. Assets are anything of value, like real estate, investments, collections, household goods and furnishings, or any other item of value that a person owns at the time of death. Among the many functions performed by the probate court are:
- Determine the validity of a deceased person’s will.
- Appoint a person, called an “executor” or “administrator,” in Rhode Island, a “personal representative” in Massachusetts, or more generally a “fiduciary,” to collect and list the assets and liabilities of the estate.
- The clearing of title to land, stocks, bank accounts, or other assets and to put the title of these assets in the names of the proper and rightful beneficiaries.
- Supervise the collection of debts owed to the deceased person and add the value received from those debts to the money ultimately paid over to the deceased person’s heirs.
- Settle any disputes between people who claim they are entitled to assets of the deceased person.
