Probate is the formal legal process of administering a deceased person's estate. It entails various steps such as identifying and valuing the assets, settling any debts or taxes owed by the estate, and eventually distributing the remaining assets to the designated beneficiaries as outlined in the deceased individual's will. In cases where there is no will, state laws dictate how the estate will be distributed among the heirs. This process aims to ensure that the deceased person's final wishes are carried out appropriately and that the estate's affairs are settled in accordance with the law.