Kallemeyn & Kallemeyn, PLLC, provides residents of Coon Rapids, Anoka, Blaine, and many other towns and cities in Minnesota with the essential experience and expertise in probate law. When you suffer the loss of a relative, you experience a swirl of emotions, which are usually combined with the imposing legal realities that go along with settling your loved-one’s estate. The stress added to your life can be lessened, however, if you know you have a competent, experienced legal representative to help you. And we at Kallemeyn & Kallemeyn believe that we can provide you with exactly the kind of legal representation you need.
Probate Law in Minnesota
To minimize the surprises that occur after a family member passes away, here are some things that will be helpful to know about the probate. Probate is the process of transferring real estate and other titled assets (items of value), such as mutual funds, automobiles, and stocks. Items belonging to your deceased relative that have not been designated to a specific beneficiary will likely have to go through the probate process. In the matter of real estate, as an example, if your relative owned property in Minnesota and in another state, Minnesota law determines ownership transfer for that property; but transfer of property owned in the other state is determined by the probate law of that state.
The following assets are NOT subject to the probate process: life insurance, retirement plans, jointly-owned properties, joint bank accounts, and assets in a trust.
Not all estates are subject to probate. But because of the complex nature of the probate process, it is all the more important to work with a law firm with expertise in probate law to help you determine the most effective way to proceed. If you are responsible for settling the estate of your loved-one, the support and expertise we can offer you will undoubtedly lessen the stress you are likely to experience. In some cases, even if your loved-one had a will, the probate process may still be necessary.
The Probate Process
Here are some other helpful facts to know about the probate process:
● The cost of probate is usually in the area of $4,300, though that can change depending on the nature of the assets in question.
● From opening to closing, probate takes approximately 6 months.
● Minnesota law states that 4 months’ notice be given to creditors and other interested parties, which contributes to the approximation of 6 months total from open to closing.
● If there are complications pertaining to taxes or other issues, probate might also be kept open longer.
Kallemeyn & Kallemeyn offer you the years of experience with Minnesota probate law that can significantly lessen the difficulty of navigating the process. Give us a call at 763-427-5131 and we will be happy to have a preliminary conversation about how we might help you.