Suing An Estate Executor For Deceased Person In Hennepin
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Heirs may not take your personal property until 30 days after your death. If your personal property exceeds $75,000 or you own real estate in your name alone, your estate must be probated.
The personal representative is personally responsible for probating the estate completely and correctly ing to Minnesota law. Most estates are expected to be completed within an 18 month period. If more time is needed, the personal representative must petition the court for an extension.
In Minnesota an executor is a fiduciary who has the job of settling the estate of a decedent. MN Stat § 524.1-201(18). “Settling” an estate means tending to matters that the decedent left behind such as handling their debt and disposing of their property.
Minnesota law does not set a specific timeline for settling an estate, but it generally should be done as "expeditiously and efficiently as is compatible with the best interests of the estate." Delays can result in additional expenses and even legal repercussions for the executor.
Probate also applies to other states' residents who own real property in Minnesota. Having a will does not avoid probate. The need for probate depends on the amount of property you own, the type of property you own, and whether you own it alone or with others.
Priority of creditor claims in Minnesota probate law (2) reasonable funeral expenses; (3) debts and taxes with preference under federal law; (4) reasonable and necessary medical, hospital, or nursing home expenses of the last illness of the decedent, including compensation of persons attending the decedent . . .
Transfer on Death Deed. For real estate, a transfer on death deed (TODD) that is filed with the county while the owner is alive acts to change ownership of property once they pass without going through probate.
In Minnesota, you can make a living trust to avoid probate for virtually any asset you own—real estate, bank accounts, vehicles, and so on. You need to create a trust document (similar to a will), naming someone to take over as trustee after your death (called a "successor trustee").
The non-probate assets that do not apply to the deceased person's debts are: Property with the right of survivorship. Insurance proceeds, such as life insurance. Annuities payable to an individual upon death.
