What is Considered “Probate Property” And Thus Affected by Probate Court Rules?
Probate property is property that is currently being managed via a Court action in the Probate Court. What this usually means is a Conservatorship Estate (maintenance of an elderly person’s assets for their care), Guardianship Estate (maintenance of a minor’s assets for care/saving until age eighteen), or Decedent/Probate Estate (maintenance of a deceased person’s assets eventually with the goal to distribute to the heirs/beneficiaries of the deceased person). At some point, one person has asked the Court to be allowed to manage another person’s (deceased, mentally incapacitated, or minor) property and was granted that power.
