Probate in Minnesota can be a long and expensive process. While probate is often necessary in order to properly settle an estate, there are many steps you can take in order to ensure that probate is minimized, or avoided altogether. If you are interested in probate avoidance in Minnesota, then our experienced attorneys are here to help.
Minnesota Probate Avoidance
While death is never easy, the process of probate can make it even more difficult on family and friends. In Minnesota, probate can be expensive and lengthy. It often takes up to 18 months before an estate is settled. Wouldn’t it be great if you could come up with an estate plan to save your family and heirs from this process? Luckily, there are steps you can take in order to avoid probate.
An estate plan can have many components to it. The most common piece of an estate plan is a Will. On its own, a Will does not prevent probate. In fact, part of the probate process is verifying that the Will is valid. Probate avoidance in Minnesota requires additional estate planning.
One of the tools to help avoid probate is a Trust. Property that is part of a Trust is considered non-probate property, so there is no need to go through the legal process of probate in order to determine how this property will be divided. Trusts can be established both before and after death. There are many different types of trusts, so it’s important to contact a qualified attorney to find out which type of trust is best for you.
Another aspect of an estate plan that can help with probate avoidance is a Transfer on Death Deed. This document automatically establishes the beneficiary, making any property named in the deed into a non-probate asset. To find out more about what type of property is eligible for a Transfer on Death Deed, contact your experienced Minneapolis estate planning attorneys.
There are many other estate planning techniques you can employ to help avoid probate. When considering probate avoidance, it is necessary to think about all of the probate property you own. By making sure you own your property or assets in joint tenancy, you can help avoid the costly and time-consuming process of probate. Keep in mind that real estate, vehicles, bank accounts, and other assets can all be probate property if you do not take the proper steps to avoid probate.
There are many different components of a good estate plan. If you are looking to establish an estate plan that can help with probate avoidance, we’re here to help. We’ve represented thousands of clients since 1998. Contact the Brown Law Offices, P.A. today for a free consultation. Call 763-323-6555 to speak with a lawyer free of charge.