A "probate" is the court-supervised proceeding for administering
a person's assets and debts following their death. During a probate,
all of the decedent's debts (e.g., bills, credit cards, loans, taxes,
etc.) will be paid or settled. A decedent's remaining assets are then
formally transferred to any beneficiaries designated in a will or, if
there is no will, to decedent's legal heirs by intestate succession
(default laws that dictate who will receive the assets of a deceased person).