Wills and Probate
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Minnesota Wills and Probate
Are you struggling to cope after a family member or loved one's recent passing? Are you staring blankly at a mound of complicated legal forms and papers regarding the probate process? Do these materials appear to be written in a foreign language?
Understandably, you can readily grow weary, overwhelmed, and frustrated with the Minnesota probate process in these situations and circumstances. Undoubtedly, the probate of an estate can be a tedious, time-consuming, and cumbersome legal process. This is because of the often complex financial and tax matters involved, particularly for larger, more sophisticated estates. However, you do not have to wade through probate alone. Local legal help is available in the form of wills and probate attorneys.
Roles of a Local Wills and Probate Lawyer
So, what do these locally-based wills and probate lawyers do? How can they help you? These legal advocates and probate professionals offer a complete and comprehensive set of services involved in the probate administration process to clients just like you. Additionally, they stand ready and willing to partner with tax, financial planning, and accounting professionals to solve problems, tackle difficult issues, and propose beneficial solutions. The services offered typically include tasks and responsibilities such as:
- Will preparation, review, and amendment
- Trust creation and funding
- Asset inventory
- Asset protection
- Notice to potential estate creditors
- Tax planning
- Estate administration
- Estate planning
- Will contests
- Beneficiary disputes
- Probate litigation
- Estate litigation
- Dispute resolution
What Is Probate?
The probate process is defined as the stages of court proceedings during which debts are settled and title to estate (real and personal) property passes from a decedent to his or her heirs. The process in Minnesota can quickly become complex (as is the case in most states). The analysis and inquiry involved in the probate process goes well beyond that of a written document, the will, that specifies what personal and real property a decedent wants to leave to which party. For instance, there are also frequently legal, tax, and financial matters that necessitate the involvement of experienced professionals, such as accountants, financial planners, and tax attorneys, so that the actions taken in administration of an estate or planning undertaken is done under the letter of local, state, and federal laws.
What Is a Living Trust?
Minnesota residents are frequently aware of the importance of a legally valid written will to a healthy estate plan. Yet, few parties seem to be aware of the less well-known beneficial tool called a living trust and the worth and value it can bring to their estate plans. Living trusts communicate how a testator wishes to have his or her wealth, assets, and estate property distributed to heirs, entities, and other parties. Living trusts further help to preserve a party's wealth through reducing estate taxes and avoiding the requirement of going through probate. It is necessary to know how to properly draft, create, and fund your living trust if you want to retain control over your estate and assets during your lifetime and post-death.
Contact a Minnesota Probate Attorney Today
If you want to minimize, if not attempt to entirely avoid, unwelcome and unnecessary hefty tax burdens, fees, costs, and time delays, it is wise to first approach the estate planning and administration process early, without undue procrastination and delay. Second, it is a smart idea to consult with a local wills lawyer today. You will learn valuable information about how to best navigate the probate process, avoid costly mistakes and delays, and save time, money, and headaches along the way, through partnering with an attorney skilled in the process, its mechanics, and best practices. Call now to speak with a wills and probate lawyer in Minnesota at 877-913-7222.