The main reason for probate for most Minnesota estates is to transfer solely owned real estate, other assets with a title such as stock, mutual funds, vehicles, personal property, and anything that doesn’t have a designated beneficiary. If you have questions about whether or not you need to enter the probate process to settle an estate after someone has died, the legal team at Kallemeyn & Kallemeyn is eager to help you. We are experts in matters of probate law and can provide you with the information you need.
Here are some common situations that require probate:
● If the person who has died owned real estate in that person’s name alone, or as a “tenant in common” with another person, probate is necessary. You should also note that if the person owned real estate, however large or small the value of the real estate is does not affect whether or not probate is necessary.
● If the person who has died had no real property, but owned personal property in that person’s name only, and that property’s value totals more than $75,000, probate is necessary.
● When the person who has died had a combination of real property and personal property in that person’s name alone, probate is necessary.
There are also circumstances when probate is not necessary. Typically, there is no need for probate if the person who has died owns no real property in that person’s name alone or when the person who has died did own personal property in that person’s name alone, but the property is valued at less than $75,000.
Minnesota Probate Process
Another common, associated question about probate pertains to wills. If the person who has died leaves a will, is probate necessary? The answer is, not necessarily. The determination is made relating to how the person’s assets were held at the time of the person’s death.
If it is determined that probate is, in fact, necessary, a petition must be filed with the court. At this time, a personal representative of the person who has died must be appointed. That person is responsible for a number of things, including:
● Cataloguing and appraising the assets of the person who has died.
● Protecting the assets of the estate.
● Ensuring payment of the debts left by the person who has died.
● Distributing the remaining assets to the proper parties.
Like most legal processes, determining whether probate is necessary can be complicated. When probate is determined to be necessary, you should seek the help of an attorney. Located in Coon Rapids, Charles Kallemeyn of Kallemeyn & Kallemeyn has the experience and in-depth knowledge of Minnesota’s probate processes to help you with all aspects of it. If you are in need of probate help in Anoka County, contact us by calling (763) 427-5131, or emailing firstname.lastname@example.org.