# Probate

*Taxes — Finicade finance glossary*

Probate is the court process that validates a will, settles debts and transfers what's left to heirs. It's public, it takes months to years, and fees can run into several percent of the estate. Assets bypass it when they have a named beneficiary, a joint owner with survivorship, or sit in a trust — which is the practical reason living trusts are so widely used even when estate tax isn't a concern.

**Also known as:** probate court, estate administration, grant of probate

**Related terms:** [Will](https://finicade.com/glossary/will), [Estate Planning](https://finicade.com/glossary/estate-planning), [Trust](https://finicade.com/glossary/trust), [Inheritance](https://finicade.com/glossary/inheritance), [Beneficiary](https://finicade.com/glossary/beneficiary)

Source: https://finicade.com/glossary/probate