What does "probate" refer to in legal terms?

"Probate" refers to the legal process of administering a deceased person's estate. This involves several steps, including validating the deceased's will (if one exists), identifying and inventorying the deceased's assets, paying any debts and taxes owed by the estate, and distributing the remaining assets to the rightful heirs or beneficiaries according to the terms of the will or state intestacy laws if no will exists.

Understanding the context of probate is essential in estate planning and administration. It allows for an orderly transfer of assets, ensuring that the decedent's wishes are respected, and that beneficiaries receive their inheritances in accordance with the law. During this process, the court oversees the administration to provide transparency and protect the interests of all parties involved.

The other options do not accurately define probate. Creating a trust is a separate estate planning tool that does not involve the probate process. The distribution of a living individual’s assets falls under the umbrella of asset management and does not engage the probate court. Finally, appealing a will is a legal challenge regarding the validity of a will, but it is not itself encompassed by the term “probate.”