Probate is the legal process of transferring property owned by you upon your death. Your property is gathered up, your bills are paid, and the remainder is distributed to your heirs if you have no will, or to the people you provided for if you die with a will. Certain types of property such as joint tenancy property, jointly held bank accounts, payable-on-death accounts, and life insurance policies that name a beneficiary can be transferred without going through probate.