Probate Court

AAA

DEFINITION of 'Probate Court'

The segment of the judicial system primarily charged with handling such matters as wills, estates, conservatorships and guardianships, as well as the commitment of mentally ill persons to institutions designed to help them. In addition, the court may also deal with similar situations involving minors, although typically through a juvenile division.

INVESTOPEDIA EXPLAINS 'Probate Court'

When wills are contested (for whatever reason), the probate court is responsible for ruling on the authenticity of the document and the mental stability of the person who signed it. The court also decides who is to receive what portion of the decedent's assets based on the instructions in the will or, barring that, other laws in place.

RELATED TERMS
  1. Estate Planning

    The collection of preparation tasks that serve to manage an individual's ...
  2. Will

    A legally enforceable declaration of how a person wishes his ...
  3. Will Variation

    A provision that allows a surviving spouse and/or children to ...
  4. Heir

    HeirA person who inherits some or all of the estate of another ...
  5. Beneficiary

    Anybody who gains an advantage and/or profits from something. ...
  6. Trust

    A fiduciary relationship in which one party, known as a trustor, ...
Related Articles
  1. Top 7 Estate Planning Mistakes
    Retirement

    Top 7 Estate Planning Mistakes

  2. 6 Estate Planning Must-Haves
    Retirement

    6 Estate Planning Must-Haves

  3. Why Your Will Should Name Designated ...
    Home & Auto

    Why Your Will Should Name Designated ...

  4. Why You Should Draft A Will
    Retirement

    Why You Should Draft A Will

comments powered by Disqus
Hot Definitions
  1. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  2. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
  3. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
  4. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  5. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  6. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
Trading Center