A probate court procedure is needed when a person dies owning assets in their own name (with no joint owner or beneficiary designated). A Personal Representative is appointed by the court to collect the assets of the deceased person, pay debts, and distribute the assets to the persons entitled to them. The persons entitled to inherit are determined by the person's Will, if any, or by Minnesota statutes of intestate succession.
• Informal Probate is used in simple, uncomplicated situations and requires little court supervision.
• Formal Probate is used when there are issues related to the Will or heirs, the estate is insolvent, or other problems develop. Court hearings are required and a judge makes the decisions.
• An Affidavit of Collection can be used when the total estate is less than $50,000 and no real estate is involved. This does not require court involvement of any form.
• A Decree of Descent procedure can be used if the death occurred more than three years earlier.
There are special rules that cover some situations such as a homestead, claims against the estate, insolvent estates (more debt than assets), medical assistance claims, etc.
Probate can be complicated and it is helpful to have an experienced probate attorney to guide you.
Choosing the Right Type of Entity for Your New Business: Entity for Your New Business
Children Added on Title to Real Estate: Children On Real Estate Title
Debt Collection On Deceased Family Members: Debt Collection On Deceased Family Members
Estate Planning- Preparation: Estate Planning Being Prepared
Estate Planning- Guardianships & Conservatorships: Guardianships & Conservatorships
Estate Planning- Wills, Trusts, & Beneficiary Designation : Types of Estate Planning Documents
Medical Assistance: Effects on Medical Assistance Eligibility
Memorandum on Mechanic's Liens: Mechanics Liens
Real Estate Answers: Avoid Problems When Putting Your Children on the Title to Your Real Estate
Real Estate Ownership: Types of Real Estate Ownership
Transfer On Death Deed (TOOD): Transfer On Death Deeds