In the context of trusts, what does "probate" refer to?

Probate refers to the legal process through which a will is validated and the assets of a deceased individual are distributed according to that will. This process ensures that the wishes of the decedent, as expressed in their will, are honored and that all debts and taxes are settled before any remaining assets are distributed to beneficiaries. During probate, the court validates the will, appoints an executor or personal representative to carry out the instructions of the will, and oversees the entire process to ensure it complies with state laws.

In the context of trusts, while probate may not directly apply in some cases (since assets in a trust typically do not go through probate), the understanding of how probate operates is essential for fiduciaries, as they may encounter situations where both wills and trusts are involved. The probate process can serve as a crucial lens through which to understand the distribution of assets and the roles of fiduciaries in managing both trust and probate estates.