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Farm Succession » General Resources » Estate » Probate

Probate

Probate is the legal process of transferring ownership of assets the decedent owned at the time of death to his or her heirs or beneficiaries of a will. The personal representative inventories the decedent’s assets, pays the decedent’s debts and distributes the remaining assets to beneficiaries and heirs. Probate has no effect on assets that are transferred by trust, contract or right of survivorship.

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