Opening a Probate Case – Things To Prepare For
Preparing for a probate case might be just what you need to do. Maybe you wanted to do this earlier since you feel overwhelmed or perhaps it’s because you’re always wanting to plan ahead.
So, here are a handful of things that you should plan on doing if you’re serious about working on a Minnesota probate case. Part of this may involve becoming an executor, but that can be said most things related to probate law because executors are an essential part of the process. This is a legal process that can take quite a long time.
Use the following information to help you open the case faster so you can get everything done soon.
Complete the Paperwork
Probate cases don’t just start because you’ve verified the will and have it on hand. That’s only one part of the paperwork.
One of the things that’s subject to the state’s discretion is how much paperwork needs to be filled out. And as a warning, not all the paperwork might get done immediately since you may find that, for example, documenting the overall value of the deceased’s estate should be done later on to save money.
One thing to note is that not only do the states have their own rules, but the counties can have their own rules on the paperwork as well. For help with this paperwork, there are two kinds of people that can help you, probate attorneys and probate court clerks. Those should be your default contacts for when you need to start the paperwork.
Create an Estate Account
While you might not have a problem with leaving money in the deceased’s bank account, it’s still wise to have this account for dealing with what expenses may arise during the probate process. The bank that you work with may even be anticipating you to open an estate account once they learn that you’re the executor. This is one of the tools that you can use when it comes to holding the assets which need to be eventually redistributed. Think of this as you making a bank account for the deceased to finish off what they may have started.
As a warning, the funds which are put into an estate account can only be used for the purposes of the estate. This kind of bank account is meant to be more secure because of this feature. Though, that may even help put your fears of liability to rest. An estate account won’t be where you put your personal assets, but it will be a great place to hide what the deceased left behind.
Write Down Liabilities
For this section, liabilities are what the deceased had to financially cover. It’s the stuff that they had obligations to be paying for. Don’t think about this with trivial concerns like who was supposed to pick up the bill at dinner. Rather, look at what kind of things they would have otherwise been forced to pay. You can put any debts that won’t be otherwise forgiven into this checklist. That’s the kind of liabilities that you need to be extremely aware of.
The best way to their treat probate debt is to assume that they agreed that they would either pay it off while they were alive or their estate could be used to pay off the debt.
This isn’t some kind of indentured servant hood that their beneficiaries are forced to take on to help quell the metaphorical dumpster fire. If they’ve taken on the debt that outlasts them, they’ve agreed to pay back the debt even if that means selling property. Knowing how much needs to be sold in order to get everything settled will help decide what needs to be sold, what needs to be kept, and if you want to do research on which assets may go down in value over a six-month period.
Be Patient
After everything has been sent in, the probate court will have to review what was submitted. They probably have to at least take a glance at what you presented before they can okay the case. You’re going to need a probate judge to let you proceed with the case before you can be sure that everything is set into place. Don’t assume anything until you hear from that judge.
Should there be something that was missed, they’ll most likely contact you and request more info. Don’t be discouraged. There’s a lot of paperwork to get done throughout this process. So, it’s best to get used to it ahead of time. You’ll also need a special document even after this regardless of whether or not everything worked out the first time.
Contact a Minnesota Probate Lawyer
When it’s finally time for you to open up a probate case, it’s also time that you contact a probate lawyer.
It might even be advisable to contact the lawyer in advance, so they can give you extra advice. You may need to work with the probate court and there may be many things to be done, but getting a little bit of extra help should make things easier. What you can do is contact Flanders Law Firm LLC. Their number is 612-424-0398.
Make the call today or save it to your phone book and speak to them when you get some free time. Open the case before things slow down. Now might be the time to open a probate case.
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