Probate Asset Law and Legal Definition
Probate assets are assets that have to go through probate. Assets include bank accounts, stocks, bonds, property and sometimes other possessions with titles, like vehicles. Probate is the legal process of administering the estate of a deceased person by resolving all claims and distributing the deceased person's property under the valid will. A surrogate court decides the validity of a testator's will. A probate interprets the instructions of the deceased, decides the executor as the personal representative of the estate, and adjudicates the interests of heirs and other parties who may have claims against the estate.