We assist Personal Representatives and Trustees with all aspects of settling the deceased’s estate.
Probate/Estate Settlement
In Minnesota, if one’s estate assets exceed $75,000, and one either dies “intestate,” i.e., without a valid will in place or dies with a valid will through which assets transfer to others, state law requires a probate proceeding.
The probate process is very document and systems driven. It causes time delays, extra costs, and information the court requires to process and settle the estate is available on the public record. While many times it is preferable to avoid a probate proceeding if possible, probate may be desirable in the following situations:
- Dispatch with Creditors: the estate’s personal representative must provide notice to known, and publish public notice for unknown creditors to make timely claims on the probate estate. In Minnesota, the window closes to creditor claims four months after legally effective notice. In contrast, creditor’s claims fall under Minnesota statute of limitations, which is generally six years.
- Court Supervision Helps to:
- Protect Beneficiaries and Heirs’ inheritances.
- Reduce the likelihood of family disputes, will contests, etc.
No one plan or process fits all situations. As such, please give us a call today to discuss whether a probate proceeding is the most prudent way to plan for the transfer of your assets at your passing.