Probate is actually the court procedure by which a will is proved to be valid or invalid. The common usage of the term "probate" includes the process of administering an estate. Typically the administration of an estate includes paying debts and transferring titles to the benefactors named in the will.
A will can be probated as a Muniment of Title, which does not require the appointment of an Executor / Executive. Muniment of Title should only be used when you know there is no need for an administration.