Minneapolis Probate Lawyers Helping Executors Through the Probate Process
If you’re the executor of the will of a loved one who recently passed away, you may be concerned about probate. This legal process is often necessary when someone dies and leaves behind assets, and unfortunately, it can be quite complicated. This is why you should talk to a probate lawyer for guidance during probate.
At Metropolitan Law Group P.A., our lawyers have been through the probate process with clients numerous times and can walk you through it from start to finish. You shouldn’t have to worry about complex legal processes while you mourn the death of someone close to you. Instead, let a Minneapolis probate lawyer answer your questions when it comes to administering the estate of a loved one.
What Is Probate?
Probate is a legal process initiated soon after someone’s death to start settling the estate. When someone passes away, the executor that they appointed in the will – or a court-appointed personal representative if they did not have a will – is supposed to administer the estate so that
beneficiaries can get the assets left to them by a loved one.
But before this can occur, a Minnesota judge must verify the will’s validity, if there is one. They also have to notify all beneficiaries and creditors of the death and then identify and appraise the assets. Finally, they need to ensure creditors have been paid, at which point the executor can start distributing assets to the beneficiaries according to the wishes in the will. This process can be complex and often takes months, but a probate lawyer can provide legal support throughout.
When Is Probate Initiated?
In most cases, probate is necessary, even if the deceased person has a will. More specifically, probate is required if the deceased owned property in their name only or if they had more than $75,000 of personal property in their name alone.
So, if they owned a house in joint tenancy with a spouse and did not own at least $75,000 worth of personal property in their name only, probate may not be required. However, if they owned a home in their own name, probate would be necessary.
If you’re not sure if you should expect to go through probate as an executor of a loved one’s estate, a Minneapolis lawyer who has experience with estate planning can let you know this information. Come to our law firm today to get the answers you need about this legal process.
What Are the Main Types of Probate?
In Minnesota, you have the option of informal or formal probate. Most estates go through informal probate, which is ideal for simple situations. For instance, if the deceased did not have minor children or real estate, and no one has disputed anything regarding the estate, informal probate may be the right choice. This involves very little court supervision, though you will have to fill out a lot of paperwork and submit several documents.
Formal probate is best for slightly more complex estates, such as when beneficiaries disagree on terms, the beneficiaries are minor children, or there are unknown heirs. In addition, if there are any disputes surrounding the will’s validity or if the estate owes creditors a lot of debt, formal probate may be necessary. When this occurs, a judge will have to closely supervise the legal process.
Why Should You Hire a Probate Lawyer?
Whether you’re expecting to go through formal or informal probate, you can benefit from hiring a lawyer. After all, when you’re responsible for administering assets to the heirs of the deceased, you want to make sure you don’t make any mistakes. Overlooking even a few minor details could make a big difference to the beneficiaries of your loved ones, so hiring a probate lawyer is an excellent way to have peace of mind during the process.
If you need legal guidance while identifying assets, paying taxes and other debts, and distributing assets to beneficiaries, a probate lawyer can help. Call our Minneapolis law firm at 612-448-9653 to discuss your next steps.