Wills, Trusts, Guardianship, Conservatorship, & Probate

LEHNER  LAW OFFICE A Limited Liability Company

 
When you’ve lost a loved one, it is critical to have a compassionate, efficient, knowledgeable guide through the process. The Lehner Law Office, LLC can offer just that. Call or e-mail now for prompt answers to your questions in this difficult time. Until we can talk in person... consider these frequently asked questions... Probate FAQs: What is Probate? Probate is a series of court proceedings necessary anytime someone dies with property owned is his or her name.  What steps make up the process can vary depending on the details of each unique situation.  Generally, Probate is the process by which the Court appoints a person to act as a Personal Representative (often called the "executor") for the estate.  The Personal Representative (PR) has the authority and the duty to carry out the decedent's final affairs.  During the Probate process, the PR collects the decedent's assets, satisfies any last debts, and distributes the remaining estate to the correct people or institutions. Is Probate necessary every time someone dies? No. When Is Probate necessary? Property that makes up an estate can be divided in to two categories: 1) Probate  and 2) Non-Probate assets.  Probate assets are any property titled in the name of the decedent alone.  However, several types of assets are NOT subject to probate.  Such property includes (but is not limited to) any property with a beneficiary designation, jointly owned property, life insurance, retirement accounts, and POD or TOD accounts. If the decedent owned any probate property, some type of probate proceeding will be required. How long will Probate take? The answer to this question will depend on what type of assets make up the probate estate.  When a probate estate is less than $50,000, it can be collected with a simple form (“Affidavit of Collection”). For estates beyond this amount a longer process will be required. Sometimes, even if the estate is greater than $50,000, a probate can sometimes be done with a shortened "summary" proceeding and could be completed within a matter of a 2-3 months or less. However, if this option is even available is fact-specific and is relatively rare. Often, a more standard proceeding will be required and will likely take at least 6-12 months to complete.  If there is a dispute among any of the parties involved or if real estate must be sold, the time needed to conclude the estate could be significantly longer. Generally, you can likely expect a process that will take the better part of a year or longer. How much will Probate cost, and who pays the bill? Court costs, attorney fees, and other administration expenses associated with the Probate process are all paid for from the estate of the deceased before there is any distribution to the other beneficiaries. The cost of Probate will also vary widely, depending on the type of assets that make up the estate and several other factors.  Generally, the minimum expense for a standard probate in Minnesota will often reach $2,500 to $3,000.  Of course, with any added complexities, this expense could become larger. To obtain a better estimate based on your specific situation, you should contact a Probate attorney. For more information about Probate or Estate Administration, please contact our office. Contact.htmlshapeimage_2_link_0

The content of this website is intended for informational purposes only and does not constitute legal advice, nor does it create an attorney - client relationship between the reader and the Lehner Law Office, LLC.

Lehner Law Office, LLC

1069 S. Robert Street, Ste 100

West St. Paul, MN 55118

T  651.222.9829

F 651.222.1122

andy@lehnerlawoffice.com