“17 Tasks To Complete in Probate”

Follow The 17 Steps Correctly To Prevent Problems Later

Is it possible to perform all of these without an attorney?  Yes it is possible, however, the legal consequences of doing them incorrectly can be severe and lingering.  That’s why it is important to have experienced legal help when dealing with your loved one’s estate.

The Minnesota Probate Court provides a cost effective and efficient process to transfer ownership of assets from one generation to the next. The Minnesota Legislature has properly insisted that the process is efficient and that most of the assets be available for the benefit of the persons designated in the Will.

You and I will begin with a copy of the death certificate and the Will. From that information, we prepare an Application or Petition to the Court to appoint the person chosen by the decedent to become the Personal Representative to administer the assets of the estate. Next, the court will issue the “Letters Testamentary” which are the operational documents allowing the Personal Representative to act on behalf of the estate.

Once the administration of the estate is confirmed, the next step is to collect the assets of the estate whether they are in the form of bank accounts, stocks or other securities, real estate or other assets. After the collection phase, the assets are distributed to the beneficiaries of the Will, the spouse, family members and the creditors who may be entitled to payment.

The estate may be administered informally or formally; the difference has to do with the degree of supervision in which the probate court has over the estate. The proceedings may be supervised or unsupervised.  This determines how frequently we must go to the probate court for necessary approvals.

Written Notices are given to beneficiaries and creditors of the decedent as well as providers of services for the last illness, funeral and burial of the decedent. Notice must also be published in a legal newspaper in the county where the decedent died. The earliest that the estate can be closed is four months after the notice by publication can be made, although partial distributions can often be made to beneficiaries in the meantime.

Within four to six months after the publication, the bills can be paid, the bequests distributed, the real estate conveyed and stocks or other securities can be transferred. If there are any taxes to be paid, they are taken care of at this time. It is necessary to file an estate tax return even if no taxes are owed.

Unless there is some unique problem, an estate can generally be closed within six to nine months of the death of the decedent.