Think of two words - probation and probate - both are words for court supervision and approval.
Probate (with court approval) is the method of selling or transferring accounts and property, after the owner has died. Probate is a legal process, like divorce, adoption, etc. where the court supervises the transfer of the deceased one’s accounts and property (“the estate”) to creditors and beneficiaries.
Estate Planning (or not) determines how the estate will be settled– probate or not.
Ways to avoid probate:
|Joint - right of survivorship|
|Revocable Living Trust|
|Spend it ALL|