Losing a loved one is one of the hardest things you will face in your life. No matter what the circumstances are, it is an emotionally draining time for you and your family.
The attorneys at Lamprecht Law, PLLC, believe that you deserve uninterrupted time for mourning. We are your allies during these hard times – working to mitigate issues behind the scenes and smooth the way for financial and legal transitions.
Will the probate process apply to you?
The probate process in Minnesota has two criteria. You will need to go through probate if your loved one:
Owned anything in their name alone. This would mean the title for the property, home, car, bank account, farm or land is in their name only. This also includes items that are left to “my estate” instead of an individual’s name.
Has assets that equal $75,000 or more or any value of real estate in their name alone.
If either of these are true, then their assets will need to go through probate. This is a legal process that examines the assets before they can be passed on to the family. The state will take taxes out of everything that can be passed on and pay off any outstanding debts.
Saving money during probate
Anytime you can avoid the courts in Minnesota you will save money. Having the right estate planning tools in place to avoid probate is key. Our goal is to help clients think ahead to save them time and money in the long run.
If you lost a loved one recently and you are already concerned about what assets will go through probate, we can discuss what may happen during a consultation.
You can expect a compassionate approach and a team that listens to your story. We are part of this community and we understand firsthand the issues you and your family may be facing.
Questions? We have answers.
Ask us how we can help reduce the money you could lose during probate. We have the experience to ease the transition of property, businesses and assets – letting you focus on what is most important.
Call our Plainview office location at 507-534-3828 or reach out to schedule an appointment through our easy online form.