How to Avoid Probate in Minnesota : Utilizing Joint Tenancy

Posted on April 9, 2021 by jlawyer

Utilizing Joint Tenancy to Avoid Probate

Rather than discussing the Minnesota probate process, here’s a bit of a look at how you can avoid having to deal with the process entirely. This isn’t a guarantee because everything depends on who survives who, but using a joint tenancy to prevent probate from happening should work for at least one party. If all goes well, probate law shouldn’t have any real effect on the property that you’re dealing with.

The nice part is that this whole process is rather simple. Below, you’ll find out more of what might be involved, but compared to most other forms of estate planning, this is relatively simplistic. Consider the following if you’re thinking about sharing ownership with someone and you want to ensure that at least one of you maintains ownership after one of you two passes.

The basics for avoiding probate with joint tenancy

Joint tenancy works to keep two or more parties’ assets from going anywhere else. That isn’t to say that the assets won’t go anywhere once all tenants have passed on, but that if one of the two remaining tenants passes, the surviving party gets the remaining assets. Effectually, you agree to walk towards a fork in the road with someone. However, who outlives the other determines which path you’ll take. You might think of it as survivor takes all so to speak.

Being married or not shouldn’t be an inhibiting factor. What you should be concerned about is whether or not you want the other party to inherit your bank accounts and other assets. If you’re serious about sharing everything that you own, this is a fine option. As a word of warning though, a joint tenancy will not work to prevent probate if all the tenants die at the same time. Though, even if one tenant does outlive the other tenant, they may need to rethink their estate planning plans since their original heir is no longer there.

Fast and Clean

Besides being rather inexpensive to create, joint tenancies usually help make things faster and easier for all parties involved. Part of this is because things are a lot simpler to figure out because once one party passes on, things just go to the other tenant. That’s assuming that there were only two tenants to begin with. It means that you can avoid most of that concern over finding beneficiaries and making awkward phone calls to distant relatives.

Concerning making things faster, the creation of a joint tenancy will probably be faster than crafting a will or a trust. You actually might not have to worry that much about fancy wording. It’s always wise to check in with your lawyer to be certain, but you may not need to be so worried. Ownership can be created and dissolved later on, moreover. So, if you’re looking to change things as time goes on and your estate planning becomes more robust, that’s just fine.

How it Works

There’s not much special to this part. It just goes to the other party. The title transfers, the survivor takes the deceased’s share, and the cows can go home. That property won’t be touched by probate court. It goes to the survivor after some paperwork gets done. Once everything is in their name, it’s in their name for real. To be blunt, a joint tenancy is effectually a legal agreement that lets another parry have your stuff after they’ve signed a few documents.

There is a bit of a clause to that though. What kind of property is being left behind dictates the kind of paperwork that needs to be done. Don’t let that scare you, however, as it will probably be a lot less of a pain than anything the probate process might throw at you. It’s possible for the probate process to take years to resolve depending on the circumstances. That’s not even getting into how wills can be contested just because the person who created it was relatively incapacitated.

Everything Must Go

Do be mindful of the fact that your portion will fully go to the other party if they survive you and vice versa. There really isn’t anything concerning estate planning that you can do with the stuff that’s under a joint tenancy besides give it to the other party. They get it all. There’s no portioning or negotiating. You may as well consider that anything in a joint tenancy will go to them without any questions asked. It’s kind of like an irrevocable will because the one party will get legal ownership without too much concern for having to deal with probate.

You will still own the property in a joint tenancy. That’s one thing that sets it apart from irrevocable trusts. However, that also means that you need to be fully aware of court rulings against your fellow tenant. Should the property that you both own be affected by a court ruling, you might feel those effects. You might be innocent, but the court ruling may still make things a bit more difficult. Hopefully, everything will go only once one of you two passes on and not when a judge has their say.

Minnesota Probate Lawyers

For further questions or for help with your estate planning ventures, you can get in touch with Flanders Law Firm LLC.

Someone there can walk you through what estate planning options are best for you, tell you if a joint tenancy is possible, or assist you with the probate process. Probate law doesn’t need to be something that stresses you out. All you have to do is reach them at 612-424-0398.

Estate planning can be a big deal, but it doesn’t need to be a difficult decision. Start working on it today for a better tomorrow.

Guardianship Duties in Minnesota

Posted on September 9, 2020 by jlawyer

Guardianship Duties in Min

Taking care of another human being is one thing while dealing with all the legal aspects of becoming their Minnesota guardian is another thing entirely.

Guardianship law is relatively straightforward in concept when discussing the duties of a guardian. So, to help you get a better grasp on what kind of responsibilities you might be taking on soon enough, this article will show you just what you might be getting into. To make one thing clear, becoming a guardian is more than simply taking care of someone on the medical level. It’s a huge commitment, both in terms of time and effort, which might cause you to make serious decisions for their better or worse.

Minnesota Guardianship | Held Accountable

Just because a court allowed you to become a guardian doesn’t make you or allow you to act above the law. If anything, the court will hold you accountable for the physical wellbeing of your ward’s physical care. Basic essentials like food, shelter, and their clothing are now your responsibility. In short, if it might affect how the ward is fairing, you might be the one who’s held accountable.

The goal of a good guardian is selfless living. At least, when it comes to caring for their ward. Just as a refresher, the situation that you’re in is because the ward is incapacitated to such an extent that they need someone like you to care for them. What that means will change for every case. As far as you should be concerned, you’re about to become their babysitter until they’re well enough to function outside of you.

Doctors Need You

In guardianship cases that deal with any medical concerns, the doctors might be contacting you directly. You’re not there just to feed and clothe your ward or see that they have a roof over their noggin. The thing about our medical system is that it’s complex, and there might be times when you need to answer questions concerning your ward’s health that are just as complex as the system itself. Your whole role might have come into place because your ward failed to grant someone durable medical power of attorney. It’s very possible that they were thinking about granting durable power of attorney and simply failed to carry out their plans in time.

This isn’t always talked about, but guardians and conservators are usually called in when durable power of attorney hasn’t been granted to someone. The result is that the ward becomes unable to take care of their property in the case of a conservator and/or their own wellbeing in the case of a guardian. Not everyone wants, can, or has the time to grant power of attorney. In their mind, they may have thought that having a conservator or guardian was just fine. You might be there to prove them right.

Contact with The Outside World

Presuming that your ward can still communicate, you might be the person that helps them maintain contact with the outside world. Helping them connect with other human beings might become your duty. That isn’t to say that you should open a social media account for them and provide updates of every waking moment. You’re supposed to use sound judgement and help keep loved ones connected. Friends and family may wonder about what’s going on.

And you’re not just there to break the radio silence. Physical visitations may happen on a regular occurrence or once in a blue moon. You may even want to be there when they happen, ensuring that nothing goes wrong for your ward. Family is family, but you’re now legally obligated as the guardian to try and prevent anything bad from affecting your ward. Be wise of who you let in the front door.

Minnesota Guardianship Report to the Court

The paperwork doesn’t end once you become a guardian. Rather, filing what is known as a Guardian Report will become a yearly thing for you once you’re a guardian. So, if you’re looking to go through with this, you’ll have to get used to filing a report about your ward and discuss what things have changed. It should, more or less, mention anything that might relate to how the ward is living and if that affects their living conditions.

Honesty is the best policy. However, keep in mind that whatever you submit in these reports may be used against you. Probate courts can be turned against you if they’ve gotten a complaint involving neglect abuse. Again, selfless living is the central part of a guardian’s role. The ward must be properly cared for. Never forget that that’s your top priority as their guardian.

Guardianship Lawyers in MN

Not everyone is meant to be a guardian and that’s okay. But for those who want to take further steps to caring for a potential ward, the journey doesn’t need to be a hard path. Help with guardianship law is a specialty at the law firm of Flanders Law Firm LLC. Yes, this will mean added responsibility for you, but if you’re willing to pour out your heart by caring for someone who needs it, your effort will be worth the while.

You can get in contact with the firm at 612-424-0398, and they can teach you the ropes of what the process will involve.

Sources:

https://www.minnesotaguardianship.org/faq/#howbegin

4 Clear Signs Your Senior Loved One is Ready for Assisted Living

Posted on September 4, 2020 by jlawyer

Minnesota Elder Law | 4 Clear Signs Your Senior Loved One
is Ready for Assisted Living

Perhaps you’ve noticed that your senior loved one seems unhappy at home. Maybe it’s not easy for them to safely maneuver around their home anymore, or maybe they’ve lost some of their neighbors and feel isolated within their community.

Wondering whether your loved one would be more comfortable in an assisted living facility? It’s good to be on the lookout for clear signs. If you notice any of these changes, it’s time to bring up the topic with your loved one.

Struggling With Mental Health

Seniors who feel lonely and isolated are more susceptible to depression and anxiety, so it’s important to keep an eye out for these symptoms. According to Psych Central, common symptoms of depression include loss of interest in beloved hobbies, fatigue, and appetite loss. If your loved one often expresses feeling worried or stressed, they may feel anxious living at home.

Yes, video chatting with your loved one more often can help, but at an assisted living center, they can enjoy more social interaction, opportunities to make new friends, and a genuine sense of community.

Too Much Space at Home

If your loved one’s children have moved out, their house might just be too big for them. It can be difficult for seniors to adequately clean every room of a large family home, and if you notice that clutter is starting to pile up, downsizing could be a smart choice.

According to Fool, downsizing is a great strategy for Minnesota seniors who can no longer handle the costs of maintenance and repair for large homes. In an assisted living facility, seniors can enjoy the use of their own private living spaces or spacious shared apartments, and they will not have to handle all of the upkeep on their own.

According to Fool, downsizing is a great strategy for seniors who can no longer handle the costs of maintenance and repair for large homes. In an assisted living facility, seniors can enjoy the use of their own private living spaces or spacious shared apartments, and they will not have to handle all of the upkeep on their own.

Injury Risks

Seniors with limited mobility may find that as the years go on, it becomes harder and harder for them to navigate their own homes. For example, a senior trying to use a mobility aid in a home with a carpeted floor risks serious injury. Attempting to take a shower in a bathroom without grab bars can become dangerous. And in a two-story home, simply trying to walk up the stairs could result in a fall.

While some seniors choose to hire contractors to modify their homes, a few modifications might not be sufficient enough for others. In these cases, a move to an assisted living facility is often the superior choice. Apartments or private rooms at these facilities are specifically designed to be accessible for seniors.

Needs Higher Level of Care

Even if your loved one does not have a chronic medical condition, they might need more help than you can realistically provide, like someone to drive them around for errands or a caregiver to cook their meals. While paying for senior services can help, it might not be enough. Plus, this can become significantly expensive.

If this is the case, staying in an assisted living facility would be far better for their safety and well-being. Take a gentle approach to this sensitive conversation – it can be difficult for seniors who enjoy their independence to accept that it’s time to relocate. Explain the benefits of assisted living, and ensure that your loved one understands that the decision of which facility to move to is ultimately theirs to make.

While some seniors spend their golden years at home, others find that moving to an assisted living facility comes with plenty of perks. If you have noticed any of these telltale signs that your loved one may not feel entirely safe or happy in their own home, it might be time for them to consider assisted living. Your loved one choosing to settle down at an assisted living facility can bring you both peace of mind.

Minnesota Assisted Living Attorneys

Contact the attorneys at Flanders Law Firm LLC to speak with a qualified elder law and Minnesota assisted living attorney. The firm’s attorneys have years of experience working in the field of elder law and elder care. A qualified, experienced attorney can be invaluable.

Call today at 612-424-0398.

Additional Resources

Combating the Epidemic of Loneliness in Seniors

Hidden Dangers of Hoarding to Seniors

Home Modifications For the Elderly

How to Determine Whether Your Loved One Should Retire From Driving

How to Pay for Nursing Home Care

Contact the Flanders Law Office for Matters Regarding Probate, Wills, and Trusts

Photo via <Unsplash

Final Accounting in a Minnesota Probate

Posted on May 29, 2020 by jlawyer

Final Accounting in a Minnesota Probate

Towards the end of probate, you’re most likely to encounter a little something known as a final accounting form.

This is one of the final steps to closing out the whole process. The document in question is, more or less, the culmination of probate law. It’s where you go to fill out the details, proving that all of the asset- and estate-related goals have been accomplished. Think of it as the executor’s way of signing off, stating that all of the deceased’s accounts have been put to rest. This is a final accounting in a Minnesota probate.

In the following sections, you’ll get a better idea of what kind of things you should know in order to fill out a final accounting form. This involves activities such as completing the inventory for the deceased’s assets and paying off any debts they had. You may find this document hard to fill out if the other activities have yet to be completed.

Inventory Time

Beneficiaries and assets are mainly what you need to be thinking about when you’re writing in this form. Pretty much anything that has been given to the beneficiaries should be put onto this document because you’re creating a final account of what needs to be accounted for. You should have already been taking inventory of everything that’s being passed on, presuming you’re the functioning executor. This document is your way of saying that the assets will get to the parties which they need to go to.

Don’t forget that you’ll also have to figure out the market value for all those assets.

That probably means you’ll need to account for every object the deceased individual owned up until their death. The price for these items, nonetheless, can fluctuate before you finish your accounting. So, you should be mindful of how the prices change over time to ensure that the market values are as accurate as possible. You’ll need at least two prices for fixed assets, one price for a fixed item at the start of probate and one at the end.

Note Any Sales

Any of the assets which are sold shall need to be accounted for. These assets cannot be simply sold and treated as though they were forgotten, as there must be evidence to show that they were taken care of.

The price for these should also be taken into account to ensure that their market value was looked into. Remember that any assets must have their market value checked and recorded regardless of them being given away or sold.

There is a little bit more work that might need to be done for sold assets, however.

Should any of the property, objects, or other belongings be sold for a lower price than their estimated market price, an explanation might be necessary. So, for example, if the family wants all the property sold as soon as possible and isn’t concerned about the price, the executor should explain the situation inside the final accounting form. The executor might want to consider informing the family of this to prevent anyone from selling assets and losing track of the information.

Cashing Final Checks

Income that was meant to be received by the deceased at the time of their death has to be collected by the executor.

The same applies to income involving their estate such as rental properties and local businesses. Though the person which the money belongs to may have passed, there might still be money being generated. It’s one of the executor’s jobs to note all of the income which is generated and ensure that it’s redistributed properly.

Also, be aware that nearly any cash-related matters should be taken care of. Checks that weren’t deposited, loans that weren’t paid off, and tax refunds that weren’t dealt with are three such examples. As far as the executor is concerned, anything which involves money should probably be recorded. While they may not be asked about every transaction, it may be wise to have extra records on hand.

Search the Accounts

As a general recommendation, make sure that the executor takes care of any assets that might be hidden away. The deceased could have taken out a life insurance policy and the beneficiary for that policy could be anticipating the payout. An executor cannot just glance at the deceased’s bank accounts and call it a day until they’ve verified that there aren’t any other accounts or other things left in the deceased’s name.

Retirement accounts should be searched, car loans should be paid off, and investment and mortgage statements should be put to rest. There may also be bills that might have popped up. Utilities could have been used towards the end of life and the gas and electric companies might be looking for their payment. This is effectively a restatement of the last section in that if it involves money, you probably need to account for it.

Minnesota Final Accounting Lawyers

Once you have everything ready, you’re one step closer to completing the probate process.

There might be a few other details in the form that you need to work out, but you should have a general idea of what things need to be accomplished. And don’t be shy about asking for some assistance when it comes to the tricky parts. The law firm of Flanders Law Firm LLC is there to connect you with a probate attorney who should have the answers you’re seeking. As an executioner, you might have a lot of little details to go through in order to make sure everything is accurate.

So, keep 612-424-0398 in your contacts in case you need any help filling out the form or anything else related to probate.

Making Probate Easy | MN Estate Law

Posted on March 11, 2020 by jlawyer

Making Probate Easy for Your Family

Probate and party both start with the same letter. Sadly, the two words aren’t always related to one another.

Most of us would like to think of the probate process as being a relatively painless operation. Nonetheless, not everyone has witnessed, dealt with, or otherwise encountered the Minnesota probate process first hand. With that in mind, listed below are four tips on how to make going through probate easier.

Note that these tips aren’t meant to replace the legal advise of a probate lawyer. Whenever you’re dealing with a family law matter that has the gravity of probate, you should have at least have a little bit of legal assistance.

Keep in mind, as you read the following, that most of this is written to individuals who are preparing their estate. If you’re looking to assist someone who’s going through estate planning, these are some great tips that you can give to them.

No Debt or No Assets

That’s a potential exaggeration. Being stripped of assets won’t happen in every probate case, but the debt must be accounted for. For every debt that exists, you need to account for the assets that it will take to pay for them. Besides, you may not be the one who gets to determine the dollar value of each asset. And that’s not even taking inflation into account.

Sell, sell, and sell. That might be the only thing you can do. As long as that debt remains, at least some of your assets will be gobbled up. Student loans die with you. That’s a blessing. It’s the other debts that you cannot completely ignore. That’s not to say that you should pay off everything except your student loans and default on them. Defaulting on your loans is a terrible idea to say the least.

Debt is not your friend, but paying off the debt is your best friend.

No Family Secrets

What you do in your personal life is your business. Though, when it comes to the assets, debts, and everything else you’re leaving your family, you may as well make it their business. Once they’re taking care of your assets because you’re not there, your secrets either die off with you or someone will probably find out. As much as you might want to think of the probate process as a transference of property, it’s also a process that requires the authorities to account for your remaining possessions. Those in change may not care where the possessions go. They’re probably just doing their job.

The person who becomes the executor of your will takes on the responsibility of passing on your assets. Sure, some assets like your house will go directly to whoever co-signed with you. The executioner might not have to handle most if not any of that kind of property. It’s the tiny stuff that you left outside of your will that they really have to worry about. Whatever you forgot to deal with becomes their yoke.

Have a Backup Executioner

Americans have always been fond of freedom. Saying no to becoming the executioner of a will is one such freedom. It’s a volunteer position. The government will probably do it for them anyway unless someone else fills that role. Beg and plead as you may like, but no is no. And stay away from bribing your executioner as that may result in a family spat, further complicating the matter.

Having a backup executioner is a good idea even if the original person you had in mind says yes. A dead executioner is an executioner without power. Your family may not have someone to fill their role if things go south. Do that part for them. It’s your executioner after all.

Clear Intent

You’ve probably heard that being clear in your estate planning is a must. That’s true. However, a bullet point list may not suffice for every asset and piece of land that you own. Write out how you think each part of your property will get from point A to point B. If you don’t know all the details about what’s between those two points, assuming there are only two points, researching those details is a high priority.

Stuff that can be mailed, as long as you have the right addresses, shouldn’t prove bothersome. It’s the big stuff — think houses — that might rain on your parade. Saying that you want to send X to Y is a great start. It’s just what all that really means is the potentially difficult part.

Finalizing Things | Minnesota Probate Attorney

Regardless of whatever part of estate planning you’re in, someone should be able to guide you through the path. Getting everything worked out immediately isn’t necessary. You can do so at your own pace.

With the help of the law firm of Flanders Law Firm LLC, a Minnesota probate law firm, probate can be an easier process. Located centrally in the Twin Cities in Eagan, Minnesota.

There’s a probate lawyer who can tell you how to make the process even easier. They can be there for both you and your loved ones. If you’re interested, reach someone at 612-424-0398. And you don’t have to have all your estate planned out just yet. Someone can walk you through that whole process as well.

What is a Power of Attorney | Minnesota Law

Posted on March 5, 2020 by jlawyer

What is a Power of Attorney?

Power of attorney, commonly abbreviated as power of attorney, may be something that you never thought you’d want to grant. It might be the last part of your estate planning.

However, giving a loved one the power to help you out might be what you end up needing.

It might even prevent you from needing a conservator or a guardian in the case that you become incapacitated. And don’t worry about having to put your entire life into their hands. This part of estate planning law lets you have more control than you might have anticipated. Below, you can read more about what it means to give someone power of attorney.

Duties of Power of Attorney

Having power of attorney is nothing to scoff at. It can range from selling someone else’s estate to finalizing medical decisions for another party. Granting someone POA effectively grants them the ability to be your hands and feet, turning them into something similar to a conservator and/or guardian.

There is a difference, though, as you get to have say in who receives POA. Conservators and guardians are usually only brought in when you’re unable to have a say in the matter.

Whatever legal acts that you, referred to as the principal in this matter, could normally do, the person who receives POA might be able to do as well. The limit to what they can and cannot do may be minor. This person had better have your best interests in mind and know what they’re doing. Assume that once they have their powers, they’re set with those powers as long as you both shall live.

Conservatorship and/or Guardianship

There’s no one-size fits all choice when it comes to the kind of POA that you can grant. Perhaps you want them to have more limited powers or you want their powers to remain intact even if you become incapacitated.

Choosing how much power you grant and how long it lasts can dictate whether or not the person you have in mind can act in a given situation. There are four different kinds of power of attorney that you can grant: general, limited, springing, and durable.

Here’s a short summary on each type. General power of attorney gives the individual several legal powers that you have, granting them almost limitless capabilities. Limited power of attorney only allows the person to do as much as their principal has allowed.

Springing power of attorney only comes into play when you’re incapacitated, making it a potentially more advanced form of guardianship or conservatorship. Durable power of attorney, lastly, is potentially is the kind that lasts the longest as it comes into affect when you want it to and remains in place even if you become incapacitated. The latter kind can be either general or limited. These are all Minnesota probate law issues.

Misconduct Versus Wrong

Intentions are what really make or break someone with POA. Intentional misconduct might be all that they can be called out for. If they make mistakes, they might not be able to be held responsible for those mistakes.

That’s not to say that they’re morally okay if they make a mistake, but you might not be able to take them to court if they meant well. This is especially true for mistakes that are made unknowingly.

Teach them as much as you can when you can. Otherwise, be mentally, physically, and financially ready for all the mistakes they might make. The last thing that you should be doing, when it comes to granting POA to someone, is trusting a random stranger.

Legally speaking, the court will probably hold you to that decision, assuming that you were literally trusting them. You don’t get to claim that you were completely unaware of the situation as you might otherwise be in the case that you were comatose while a guardian and/or conservator took over things. Individuals granted with springing power of attorney don’t get you off the hook either as you set things up in case something should happen.

What is a power of attorney and why

Not every person with POA gets to make both medical and financial decisions. You can grant those powers to two people, one person, or just have one individual with only medical or financial power. The choice is yours. The main factor that you might want to contemplate is what area might you otherwise need a guardian or conservator to do the job.

If you might need a guardian, grant medical POA. If you might need a conservator, grant financial POA. You can also err on the side of giving both kinds of POA just in case.

Consider this. Not granting POA in one area leaves you and your family open to potentially needing a conservator and/or guardian in that area.

That normally means that if they need one, the other, or both, at least one bond might need to be taken out for the conservator and/or guardian. Not to mention the fact that the court will want to verify if you’re actually incapacitated before a conservator and/or guardian does anything.

Conservators and guardians do wonderful work, but it just might be easier on all parties involved if you grant POA in advance.

Minnesota Power of Attorney Lawyer

You don’t need to be set on how much or what kind of powers that you want to grant. For your comfort, take your time in deciding what you want to grant. Perhaps plan on bringing all the individuals that you want to grant POA to while helping them get a better idea of what this all entails.

They’ll probably want to be there with you while you talk through the major decisions. That will help them get a better idea of what you want them to do. Consider speaking to a power of attorney lawyer to get things set up.

With the law firm of Flanders Law Firm LLC, you can give POA to someone that you trust. You can even call in advance by dialing 612-424-0398 to get a free quote.

What Happens if Someone Dies Without a Will? | MN Probate Law

Posted on January 18, 2020 by jlawyer

What Happens if Someone Dies Without a Will?

Wills, trusts, and all other kinds of estate planning may sound like complex subjects, but they can all help your loved ones.

This article tries to examine the possibility of what might happen to your estate without having any of estate planning set into place. Sure, you could be married, you could have several children, and you could even have grandchildren from your children’s children. That doesn’t mean that your estate will get to them quickly.

So, here’s a peek at probate law and estate planning law to help you get a better grasp on what not taking estate planning measures might mean for your assets.

Being married to someone may help ensure that your house stays within the family borders, but you should still be mindful of the contents. You might need to take a look at some of your bank accounts just to make sure everything is in order as well. And it never hurts to make a will with the help of a lawyer.

Minnesota Probate Time

Probate is like death and taxes as it seems to be inevitable. Perhaps the best reason to go through Minnesota estate planning is to try to avoid probate as much as possible. The probate process can affect most estates. That is, save for exceptionally small estates. As far as you’re concerned, probate might be a reality until you can get your estate properly handled.

To be blunt, everything you own must be accounted for. Either it must be accounted for during the probate process or it has to be dealt within some other matter. You can try hard to research if certain assets will avoid probate and that may prove advantageous. Nevertheless, without a probate lawyer working alongside you, there’s always the chance that something might slip past you.

Assets Scattered

Let’s continue discussing how probate affects your estate. In a very hypothetical situation, you pass without a will, trust, or any other kind of estate planning. In other words, in the eyes of the state, you did nothing.

What that probably means is that your assets might end up going to just about anyone. That’s an exaggeration, but as far as the court may be concerned, you may have done nothing to show that you really care about where your estate goes to.

Forget about most of what you had in writing if it doesn’t qualify as a will or some other kind of legal document.

If you’re married, there is hope for how to estate will be passed on.

However, if everything isn’t in order with your partner on a legal level or you’re single, don’t make any presumptions where your assets will go. Have the talks that you need to have with your significant other. Be upfront about debts that need to be paid. If you have no one, assume that the state will take ownership.

Joint Tenancy and Pay on Death

Co-ownership is an amazing concept. Assuming that you have a qualitative roommate, having someone cosign on a home with you might be one of the best options in terms of maintaining the property.

Yes, debt can snatch away your house and home, but if the debt is nowhere in sight, you might be able to keep a roof over both of your noggins. The same could be said to jointly held assets and bank accounts. This is why you should be knowledgeable about all of your assets and make sure that everything is properly allocated.

On that note, if you’re not looking to get hitched or otherwise, be mindful about co-signing with anyone.

Spouses tend to have a legal advantage compared to unmarried couples when it comes to dealing with probate. Effectively, think of a marriage certificate as a relatively basic will, helping your spouse receive at least part of your assets in the absence of said legal document.

What Happens if Someone Dies Without a Will?

Each state has their own different way of dealing with Minnesota probate law. However, there does exist a uniform probate code which acts, more or less, as a baseline to how states are to redistribute property.

As a summary, think of the code as having four levels of progression, namely spouse, descendants, parents, and relatives in that order. Think of it, to use a literary reference, as the levels of Probate that Dante needs to descend in order to pass on his property.

To break down these levels, a majority if not all of the estate will go to the deceased’s spouse and the rest may or may not come into play.

Those in charge may not pass on as much inheritance or any inheritance as they go down the levels. It’s when there’s no spouse, no parents, and so on and so forth, then the property eventually passes to the state.

Getting Things Set

Your estate planning situation doesn’t need to be perfect. At the law firm of Flanders Law Firm LLC, nothing needs to be in order or set in stone.

You can call them regardless of your situation. You can be single. You can be married. It really doesn’t matter where you’re at. Right now, to help ensure that everything’s in order for your passing, you can take time and get some help with your will.

Or perhaps you need a few Minnesota revocable trusts created. Whether you have an issue relating to probate law or estate planning law, it never hurts to ask.

Call the firm today at 612-424-0398.

Sources:

www.elderlawanswers.com/what-happens-if-you-die-without-a-will-7390