If you live in Minnesota and are thinking about creating a trust or drafting a will, one of the most important steps in the process is choosing a person or entity to act as your fiduciary. In the context of a trust, that means choosing a trustee. For a will, this person is known as a personal representative….
Category: Minnesota Probate
What are the roles in a Minnesota Trust?
One confusing aspect of any discussion about the creation of a Minnesota trust is terminology. Lots of people are unfamiliar with the lingo and with good reason. After all, it’s not everyday that a person establishes a trust fund to manage their estate. To help unravel some of the mystery surrounding the creation of a…
Minnesota Probate Estate | What are Laughing Heirs?
A recent news article about a probate fight going on in Dallas, Texas prompted the following look into an interesting concept known as the “laughing heir.” The dispute in Texas revolved around a case where a man died without a will and a lengthy process (more than a year) of identifying all possible relatives ensued….
What is a Trustee of a Minnesota Trust and what does one do?
If you live in Minnesota and you’ve created or are considering creating a trust to help manage your estate then you’ve likely encountered the term “trustee.” You might be wondering what exactly a trustee is and how they function. If so, you’ve come to the right place. Without further ado, let’s dive in. What is…
What Exactly Is A Codicil And How Does It Work In Minnesota?
Last week I brought you a post concerning making alterations to your estate plan. In that post, codicils to a Minnesota Will were discussed briefly. The following post will go a bit more in-depth on the subject of codicils, explaining what they are, when they can be useful and how you go about creating one….
How Does Probate Work In Minnesota?
How Does Probate Work in Minnesota? Read on. Probate can be a very confusing process. Many people are unfamiliar with how to probate an estate due to their lack of experience with the subject. In a lifetime, it is likely that a person will only be involved with the probate process once or twice, if ever. While your lack of…
What’s The Minnesota Probate Process All About?
Many people are confused about the Minnesota probate process and are often intimated before taking the time to fully understand how probate proceedings works. First of all, probate is the name for the legal process whereby an estate disposes of its assets. What does that mean exactly? Well, probate is a term that can be…
What’s a living trust and how does it work in Minnesota?
Though Minnesota estate-planning terminology can sometimes be opaque to those not in the business, a living trust is an example of something that is just what it sounds like it is. The term “living trust” refers to those trusts that are created while you are alive (also known as “inter vivos” trusts) rather than ones…
Minnesota Decree of Descent | Estate Planning and Probate
If you are a personal representative or an executor of an estate, you should be aware of the legal vehicle that is a Minnesota decree of descent. Decree of Descent in Minnesota In Minnesota, whenever any person has been dead for three or more years and their estate has not been probated, an “interested person” can…
Minnesota Probate | Opening an Informal Estate
Lawyers in who practice in the area of Minnesota probate have many decisions to make when faced with new estate. The lawyers will meet with the personal representative of the estate and make some initial determinations prior to filing a petition or application with the proper court. The attorney will usually need to determine the…