After a loved passes away, probate. Probate is a court-supervised legal process that:
● Certifies a will is valid, and
● Administers the transfer of the deceased’s personal or business assets to heirs and beneficiaries.
Although probate may be considered a “necessary evil,” having a Court’s supervision (even limited) over the distribution of the estate can help resolve or avoid potential conflicts.
Probates: Formal & Informal
In a formal probate, the Court and a judge supervises the process. Because of the ongoing supervision over many more activities and number of steps, the legal fees, administrator fees, and expenses are higher. An informal probate in Minnesota uses a registrar, who, instead of a judge, supervises at the beginning and at the end the end of the process. Most steps are handled by the estate’s personal representative, often a family member. With less Court supervision and fewer fees, the process is easier and costs less.
My Loved One Had A Will. Can We Avoid A Formal Probate?
Not always. A well-drafted will that clearly designates which assets go to which beneficiaries may help avoid a formal probate. However, the Court may require a formal probate if the will is not clear, if it is outdated, if it was not properly executed (i.e., signed and properly witnessed before a notary), or if one or more of the beneficiaries are likely to contest the will.
Professional Probate Services in Golden Valley, Minnesota