Probate

Probate is the Supreme Court's formal recognition that a deceased person's Will is their last valid one and that the named executor has authority to act. Once granted, banks, share registries and the land titles office will release or transfer the deceased's assets to the executor. It matters because many institutions refuse to hand over significant assets until they see a sealed grant, protecting them from paying the wrong person.

Whether probate is required depends on the asset types and values, not a fixed rule, and each state's Supreme Court has its own forms and advertising rules. Example: When Margaret died, her bank told the executor it would not release her $180,000 term deposit until a Grant of Probate was produced. Small bank balances and jointly owned property usually pass without probate.