Probate is rarely a black and white process.
Probate has a lot of 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. And because of how much this process relies on the kind of assets and how many assets there are, your best ticket is to get as much knowledge as you can. Avoid probate if you can. This isn’t your normal legal 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 probate.
What is Probate and How Long Does it Take
Probate is what you might go through after someone passes on. It’s dealing with all the messy little details like handling their assets and paying off their debts in probate. Apart from student debt, debts, much to everyone’s dismay, do not go up in smoke upon death. The money has to come from somewhere and the money needs to go somewhere. So, if you’re trying to maximize your gifts to your beneficiaries, pay off as much debt as you can stand while you’re still around to pay them off.
Nonetheless, probate isn’t just dealing with debt. Assets and their distribution are central parts of probate. Who gets what must be answered. Assets must be appraised. Individuals may need to be tracked down. Everything, more or less, must go in one shape or form. Unless the deceased lived selflessly in a convent, their assets probably need to be dealt with. There can, thankfully, be preventive measures taken.
Trusts are great tools that can help protect assets while making the process of passing on assets easier. Some assets may even dodge probate because of being in a trust. Trusts are essential parts of your estate planning to make everything safer and smoother.
Why Have a Probate Attorney?
Probably the biggest reason for having an attorney is keeping everything legal. Minnesota probate law isn’t always cut and dry. So, whether you’re seeking an attorney that can help your family prepare for probate or you need one while you’re going through the process, you want to make sure that every step you take is done properly. If the personal representative, for example, fails to carry out their necessary duties properly, there might be trouble. An attorney can be there to help everyone involved do the right things.
A probate attorney can also help your family get the most out of every decision. Don’t be fooled into thinking that just because your relative has X-amount that you’re automatically going to get X-amount. Taxes can take chunks out of assets.
You may only get Y-amount. All the debts must be resolved. This process is supposed to settle any and all financial circumstances. Houses, cars, and just about everything the deceased owns is subject to being sold off to cover any outstanding bills. Moreover, everything needs to be appraised. The collection of famous movie posters may not bring in enough cash. You could find yourself needing help deciding what stays and what goes.
What are Some of the Executor’s Responsibilities?
Effectually, the executor’s role is handling most of the will-related matters. He or she is also supposed to get the ball rolling when it comes to filing the will to probate court and notifying others that the deceased has passed. Their role is to not only act as a representative of the deceased, but to ensure that everything moves forward. They’re basically the boss of the estate.
That means that they’re the person who takes care of the estate both physically and legally. Whatever happens to the property may be on them. Even if the property is going to be sold, if it’s not well-kept, the value could decrease drastically.
Everything is still subject to appraisal, meaning that the value of the assets may still be in limbo. And here’s a big catch: the executor can revoke their position and thereby their duties, leaving their position to be potentially filled by the state. If you want something done, you should do your best to work with the executor and keep this metaphorical ship afloat.
How Long Will This Take?
Hopefully, this whole process won’t take forever and a day. Unlike meeting with a mediator for a legal matter, the probate process isn’t designed to move too fast. There’s technically no set goal for everything to get done unless someone places a time limit on it. Moreover, that’s potentially out of your control and up to the court to decide, save that you convince the court to move faster.
Just as good business depends on location, location, and location, the probate process depends on assets, assets, and assets. You can move as fast as possible. Everyone can be on board and everyone can get along. However, as long as the assets need to be appraised or otherwise dealt with, work has yet to be done. Probate isn’t normally a simple transaction of transferring items from the deceased to the next of kin. It’s got several working parts.
Trusts that were put in place can bolster the process exponentially since they can remove the majority of assets from probate altogether. As hinted to previously, trusts are your best friends.
Where Do I Start?
You start by contacting a Minnesota 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. I
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 lawyer who knows the ins and outs of both probate and trust law can help your family do exactly what needs to be done.
