Minnesota Probate Law | When is Probate Necessary?

If you you need help understanding whether a Minnesota probate is necessary, please do not hesitate to contact the law firm.

The firm has experience with Minnesota probate law and is located in Dakota County, Minnesota.  The firm regularly represents clients throughout Minnesota cities such as Eagan, Apple Valley, Burnsville, Farmington, Lakeville, Inver Grove Heights and other areas in Dakota County. Furthermore, the firm as experience working with probate estates throughout Minnesota and other states like Florida or Wisconsin and other states outside of Minnesota

Probate assets under $50,000 and a deceased persons home.

If an estate needs to be probated in Minnesota, the assets of the estate must be worth more than $50,000. This is the general rule. However, people need to be aware of the fact that if a home is in a deceased person’s name only – that means that title in that person’s name not necessarily just the mortgage –  a probate will be necessary to transfer title in the real property to the deceased person’s heirs and descendants.  This is true even if the deceased person’s other asset were under $50,000.

If you have a situation we are unsure of whether or not is it there’s a small estate and a home is included in the estate, a Minnesota probate attorney should be contacted right away to discuss the matter.

Minnesota probate estates over $50,000.

There are many situations where a probate estate is over $50,000 in assets. There are also situations where, although a probate estate is over $50,000, there are also non-probate assets.  Non-probate assets may include:  retirement funds, bank accounts, and other money belonging to a deceased person but which has a named beneficiary.

Despite the fact that there maybe named beneficiaries on accounts worth over $50,000, if there still probate assets of value over $50,000, or a home that the decedent owned in his or her name alone, the estate will need to be probated. Finally, people need to be aware that probate is not necessarily a bad thing. It can be avoided but it is also a good tool for personal representatives or executors to use so that they have court supervision over their actions. This can be a good thing if there are siblings or other heirs that are being difficult or are causing problems with their mother or father’s estate.  Again, it can be a good thing to have a judge approved the executor or personal representative’s actions when there are siblings or heirs that are not getting along.

For more information on Dakota County or Minnesota probates and when they may or may not be necessary, contact Flanders Law Firm LLC today for a free initial consultation at 612-424-0398.