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    Definition of probate

    Dictionary of Banking Terms: probate
    probate

    validation of a will by a probate court, followed by the appointment of an executor or administrator. A probate court also is known as a court of probate, surrogate's court, ordinary court, or prefect's court. Validation of a will as authentic is the first step in the settlement of an estate. Most states require that a will be signed by at least two witnesses before it can be accepted as a valid document.

    Dictionary of Business Terms: probate
    probate

    1. act of proving that an instrument purporting to be a will was signed and otherwise executed in accordance with the legal requirements for a will, and of determining its validity.
    2. combined result of all procedures necessary to establish the validity of a will. See avoiding probate.

    Dictionary of Finance and Investment Terms: probate
    probate

    judicial process whereby the will of a deceased person is presented to a court and an executor or administrator is appointed to carry out the will's instructions.

    Dictionary of Insurance Terms: probate
    probate

    legal proceeding whereby the will of a deceased is tested for validity.

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