In the estate planning world, probate is sometimes referred to as a necessary evil. While the process can be long and costly, it is sometimes needed to make sure that an estate is divided how the decedent intended.
Essentially, probate manages the transferring of a person’s property upon his or her death according to the person’s last will and testament. But before the assets can be distributed, all of the assets have to be collected and certain debts have to paid off. Any disputes that arise also have to be settled.