Probate Without a Will
This is might or might not be a black and white process. Probate can involve a lot of small details that need to be dealt with. So, to answer a few general questions, here are a few general answers. Yes, you should have a probate attorney who is more than a little bit familiar with probate law. That should go without saying.
Because of how much this process relies on the kind of assets you’re dealing with and how many assets there are, your best ticket is to get as much knowledge as you can about the entire estate and the probate process itself. This isn’t a sitcom’s stereotypical litigation process where everyone stands before the judge to prove or disprove a point. It’s more or less dealing with the deceased’s assets and waiting for each asset to be approved. Continue reading to find out more about the ramifications of not having a will during the probate process.
It All Depends
A will is usually what guides your assets. That is, unless there are trusts in place to route some of the assets in question. Not having either of these in place may leave everything in the hands of the court.
Personally electing an executioner may do little if there’s not a will in place. Your will is what allows your executioner to do their job. It doesn’t matter what you taught or instructed them. They may know your every thought and have evidence to back it up, but trusts and wills are what the courts trust.
Not having a will is not necessarily the worst-case scenario, nevertheless. The court will probably look at the family situation and diagnose how to distribute the assets in light of the deceased’s relations. For example, if the deceased was separated from their spouse, the surviving spouse will still be considered the next of kin. If the deceased was divorced, rather, their ex-spouse won’t be considered their next of kin. The court will know that not every family situation is cut and dry. It just may take some extra time to fully assess and then address the situation.
In Trusts We Trust
Your will is not a trust and a trust is not your will. They are two separate legal entities that both affect the probate process. Trusts have two advantages over wills because they’re harder to contest in court and they can sneak assets through without going through probate. There’s the chance that someone might check on those assets, but as long as the trusts stand, everything should be in order.
Unlike executioners, trusts don’t depend on wills. The trusts should still be honored regardless of what happens to your will or the lack of thereof. While it’s probably unrealistic to put all of your assets into trusts, they’re great options for assets that must be passed down.
It’s possible to put lots of assets into revocable trusts, but that means you might need several trusts while you could just put those assets into your will. If time is short or you’re concerned about a particular asset, a trust might be the better option when compared to a full-blown will. At the same time, consider creating a will in order to cover your other assets. Trusts are good for ensuring one or two assets are passed down while wills can be better for large amounts of assets.Probate is a Probability
Trusts aside, not having a will in place almost guarantees that your assets will go through probate. It’s the court’s way of handling everything. Assets will need to be assessed. Debts will need to be paid. Everything will need to go in some shape or form. Nothing will be immune from being sold off to pay off debts. Though you may want to give everyone a top-level education, the end result may be far different from your original intent.
Your word probably won’t hold up if it’s not in writing. The court must deal with each and every debt that you have. Even if your house is all that you own, that still isn’t immune to being sold. Student debts will be forgiven, but otherwise, those debts don’t just go away. Debt collectors can’t play favorites. Until every cent of your debt is gone, you may as well start writing out your will with your debt collectors being your beneficiaries. The quickest way to ensure your family gets anything from your will is to pay off your debts one by one, starting from the smallest and moving towards the biggest.
Relatives Take All
Perhaps you’ve heard the saying, “Blood is thicker than water.” That saying can, more or less, be applied to probate when a will isn’t present. Your relatives, whether my blood or marriage, tend to be the ones who inherit from you when you pass without a will. Friends and individuals who are not recognized by the court as being family aren’t normally so lucky. An unregistered partner might end up getting nothing once you die regardless of your external family life or your relationship with said partner.
If you want anything to pass onto someone that isn’t a part of your family, wills and trusts are a must.
Minnesota Probate might not leave anything to them. You might not have a single debt in the known universe and your estate can be kept perfectly intact, but unless the court does something out of the ordinary, your friends won’t see a cent from your assets. The judge may not take into account your sudden debt or some other reason why you didn’t have a will. Wills are, to some extent, insurance for your assets, helping those who aren’t related to you obtain the gifts you promised. Don’t bet on sob stories. Judges probably hear one or more for every court case they preside over.
How to Start | Minnesota Probate Lawyers
You start by contacting a probate attorney. Visit or contact the law firm of Flanders Law Firm LLC. They’ve helped people deal with probate issues time and time again.
If you’re not convinced, dial 612-424-0398 and speak with someone representing the firm. Those assets cannot move or asses themselves. Getting them through probate faster sometimes means having more help. And even if the majority of assets are covered by trusts, consider having that same lawyer look over the trusts to ensure that everything’s in order. A probate lawyer who knows the ins and outs of both probate and trust law can help your family do exactly what needs to be done.
The Internal Revenue Service (IRS) has issued an opinion that transcripts may be used by personal representatives instead of waiting for the traditional tax closing letter.