The objectives of probate are to pay creditors and distribute assets according to the law and your loved one's wishes. Before assets of an estate are paid, creditors may seek payment on debts. As a personal representative, you don't want to pay a debt the estate does...
The individual named as a personal representative plays a crucial role in successfully administering an estate. Often, however, the personal representative performs her or his important duties while grieving the loss of a loved one. In addition, the person named as...
The goal of Minnesota law is to simplify the probate process for the families of the deceased. However, the more property a person has at the time of his or her death, the more complex the probate process may become. Large estates may raise special tax issues that...
Can and Should You Avoid Probate? Upon your passing, your property goes to your beneficiaries via your will, if you prepared one. If you do not have a will, intestacy laws determine who receives your inheritance. In order for your beneficiaries to attain the title(s)...
In July of this year, reports emerged analyzing the last will and testament of James Gandolfini, the star of the popular Sopranos who passed away while on vacation in Italy just a month earlier. The publication of his will fueled a public debate over the wisdom of the...
Probate is the court process by which estates valued at more than $50,000 are settled, whether you have a will or not. With a will in place, you can name your executor - the person who collects and inventories all your property, pays your debts and divides what is...
