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

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