When it comes to estate planning, there are a wide variety issues to take into consideration, from asset valuation to heirs and power of appointment. In Hennepin and throughout the state of Minnesota, those who are concerned about wealth protection and the proper distribution of assets should make sure they comprehensively understand the ins and outs of their estate plan and identify the best course of action. After all, it is very important for people who want to give their personal property to a surviving spouse and/or other family members to try to simplify the process as much as possible and ensure a smooth transfer of assets.
According to the Minnesota Judicial Branch, the probate process allows people to have their estate settled in court after they pass away. There are a number of different probate proceedings, including formal, informal, summary, special administration, determination of descent, subsequent administrations and ancillary. Minnesotans can contact the Court Administrator’s office in most counties and reach out to a Probate Registrar for assistance regarding probate procedures. In some cases, court supervision is not necessary and an estate may go through informal probate. However, in order to qualify for informal probate, estates cannot have legal disputes or complicated administrative requirements.
On the Minnesota Attorney General Office’s website, those who would like to develop a better understanding of the probate process will find additional helpful information. For example, people can review how laws impact real estate, personal property and different types of assets which are not always distributed through probate.