2015 March

Probates in Minnesota

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When is a probate necessary in Minnesota?

Whether or not a probate is necessary in Minnesota depends on the type and value of assets a person owns at the time of his or her death. If the assets owned by that person alone total more than $50,000 in net value or include real estate, then a probate will be necessary.

Assets that are not counted toward that total include assets that are owned jointly with other people, assets with beneficiary designations (such as life insurance policies), and assets with a Transfer on Death or Pay on Death […]