Probating a will in Minnesota is, unfortunately, a complicated process.
Most people we speak with are handling an estate for the first time. Many have no idea where to start and do not understand what they are supposed to do. Often, a loved one has named them as the personal representative but they don’t even know what that means. Read on for some answers to these common problems.
How to probate a will in Minnesota
The first thing that a executor or personal representative should do is review the deceased person’s estate plan or their Will. The deceased person may also have a trust or other “testamentary” document. Next, the person should read the Will to see one who the chosen executor or personal representative is and who the heirs of the estate will be. Locating names and addresses for all individuals is very important as they will be sent all information about the estate.
From there, the person in charge of the estate should determine whether or not there are surf sufficient assets to require the probate of the estate.
When it is a probate required?
A probate is required when their assets in excess of $50,000. Assets may include such things as bank accounts, retirement accounts, real estate, the home in which the deceased person lived, and all other monetary assets -including personal pride property.
If, after totaling up all of the assets, the estate is worth over $50,000, the probate will be necessary. If, the assets are worth less than $50,000 for probate will not be necessary. However, a personal representative should still speak with an attorney about a small estate administration as there are legalities that need to be taken care of upon a person’s death even if their estate is worth less than $50,000.
If the probate is necessary what should you do next?
After determining that that the assets of the estate are in excess of $50,000, the person in charge of the estate should contact the probate attorney. Do not try to handle an estate alone. The probate process is difficult to understand even for seasoned lawyers.
A petition for a probate must be filed in the county in which the deceased lived. Once filed with the county court, notice of the estate will need to be published a newspaper of general circulation in the county in which the deceased person had property. Notice of the estate and the petition will need to be sent to all heirs, creditors, and other interested parties of the estate.
The law office has discussed the requirements of a probate petition in previous posts, please read those files for further information on the requirements of what needs to be contained in a probate petition.
The probate inventory and final accounting
The executor or personal representative will need to keep track of all assets and debts of the deceased, pay debts, gather assets, and inventory those assets in a document which will be provided to the court. This document will also be sent to all heirs and interested parties of the estate. Again, this document is called an Inventory.
After the estate assets have been inventoried, the personal representative will work with the probate attorney to fall the law, pay all debts, work with the court system, and, eventually, make distributions to all heirs of the estate.
No distributions from the estate should be made to errors or any other parties until the probate process has been completed. This process can take months if not years and the right steps need to be followed. If the right steps are not followed, the personal representative or executor could be held personally liable to the heirs, the federal government, the state of Minnesota, and the court system at large for failure to properly administer the estate. Generic lawyer shit
How to Probate a Will in Minnesota
Contact the Flanders Law Firm today. The firm offers free consultations to all potential clients. Call (612) 424-0398.
