Wonderfull explanation very informative information by Mr.Uday G.B. more  

Probate is a legal process that takes place after someone dies. It includes: proving in court that a deceased person's will is valid (usually a routine matter) identifying and inventorying the deceased person's property. Probate is the process of proving and registering in the Court the last Will of a deceased person. When a person dies, somebody has to deal with their estate. It is usually the executor of their Will who administers the estate and handles the disposal of their assets and debts. Probate is a legal process whereby a court oversees the distribution of assets left by a deceased person. Assets are anything a person owns with value. And is governed by "Indian Succession Act, 1925, " What is the Probate Process? Probate refers to the process whereby certain of decedent's debts may be settled and legal title to the decedent's property held in the decedent's name alone and not otherwise distributed by law is transferred to heirs and beneficiaries. If a decedent had a will, and the decedent had property subject to probate, the probate process begins when the executor, who is nominated by the decedent in the last will, presents the will for probate in a courthouse in the county where the decedent lived, or owned property. If there is no will, someone must ask the court to appoint him or her as administrator of the decedent's estate. Often, this is the spouse or an adult child of the decedent. Once appointed by the court, the executor or administrator becomes the legal representative of the estate. The Four Basic Steps to Probate 1. File a petition and give notice to heirs and beneficiaries. As described above, the probate process begins with the filing of the petition with the probate court to either (1) admit the will to probate and appoint the executor or (2) if there is no will, appoint an administrator of the estate. Generally, notice of the court hearing regarding the petition must be provided to all of the decedent's heirs and beneficiaries. If an heir or beneficiary objects to the petition, they have the opportunity to do so in court. Also, generally, notice of the hearing is published in a local newspaper. This is to attempt to notify others, such as unknown creditors of the decedent, of the beginning of the proceeding. 2. Following appointment by the court, the personal representative must give notice to all known creditors of the estate and take an inventory of the estate property. The personal representative then gives written notice to all creditors of the estate based upon state law; any creditor who wishes to make a claim on assets of the estate must do so within a limited period of time (which also varies by state). An inventory of all of decedent's probate property, including real property, stocks, bonds, business interests, among other assets, is taken. In some states, a court appointed appraiser values the assets. When necessary, an independent appraiser is hired by the estate to appraise non-cash assets. 3. All estate and funeral expenses, debts and taxes must be paid from the estate. The personal representative must determine which creditor's claims are legitimate and pay those and other final bills from the estate. In some instances, the personal representative is permitted to sell estate assets to satisfy the decedent's obligations. 4. Legal title in property is transferred according to the will or under the laws of intestacy (if the decedent did not have a will). Following the waiting period to allow creditors to file claims against the estate, and all approved claims and bills are paid, generally, the personal representative petitions the court for the authority to transfer the remaining assets to beneficiaries as directed in the decedent's last will and testament or, if there is no will, according to state intestate succession laws. If the will calls for the creation of a trust for the benefit of a minor, spouse or incapacitated family member, money is then transferred to the trustee. Unless the beneficiaries of the estate waive the requirement as allowed under some state laws, the petition may include an accounting of how the assets were managed during the probate process. Once the petition is granted, the personal representative may draw up new deeds for property, transfer stock, liquidate assets and transfer property to the appropriate recipients. In short, a properly drafted will, updated regularly to account for life changes, organized records of debts, personal property and other assets simplifies the probate process. The easier it is for your personal representative to trace your steps after you're gone, the easier the process. more  

Probate is an important aspect. As per law and order and situation it should be imposed. more  

Necessity of probate as per state laws..it may not be required in some states... more  

Mr.Mohit Pande has clarified. more