What Is Probate? When Does It Typically Occur In Minnesota?
The probate process in Minnesota involves gathering the assets of the decedent to pay off the decedent’s debt and distribute the remainder of the assets to the heirs of the estate. It can be complicated, especially if there isn’t a will in place, no children, a number of different marriages, or joint ownership of a business or real estate. Areas of difficulty include paying off the creditors, and determining what assets to distribute to each heir. The filing fees and attorney fees associated with probate can be expensive, so it is best if it can be avoided. However, this isn’t always possible.
Are There Ways To Avoid Probate In Minnesota?
There are ways to avoid probate in Minnesota through a proper estate plan which ensures that land and property is transferred legally and effectively. Creating a trust, or simply having less than $75,000 in probate assets can also allow a person to avoid probate.
When Would A Will Be Probated In Minnesota?
An estate that is worth less than $75,000 does not need to be probated in Minnesota. If it is worth more than $75,000, or there is real estate that didn’t belong to a spouse, or if there is no spouse, then it would need to be probated. If there was no joint tenancy of the real estate or the spouse is not on the deed, then it would need to be probated. If there is joint tenancy, then it may not need to be probated. In a situation where there is no spouse, the mother of minor children could petition for appointment as personal representative; if there is a spouse, then that role would be given to that spouse unless they chose not to accept it.
For more information on Probate Cases In Minnesota, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (763) 284-5552 today.