Davis Law Firm | Estate Planning Attorneys in Minnesota

Probatable Assets & Types of Probate
July 1, 2013

Probate Assets

Many people wish to avoid probate upon their deaths.  Probate is the court process of transferring a decedent’s assets onto his or her heirs or devisees after the decedent’s death.  Thus in order to determine if you estate will have to be probated after your death, you must determine if your estate contains any probatable assets.  The table below show which types of assets are probatable and which are non-probatable.  If, upon your death, your estate does not contain and probatable assets, no probate will be necessary.

Types of Probate

There are three types of probate in Minnesota, each of which involves a different level of court supervision. The first type of probate is known as formal supervised. This is the traditional type of probate and requires the most court involvement. In a formal supervised probate proceeding, a judge appoints an executor for the estate and reviews the final account through scheduled court hearings. A second type of probate is formal unsupervised. This type of probate typically requires only one formal court hearing and, generally, involves less court supervision.  The cheapest and easiest type of probate proceeding is an informal administration. An informal probate is essentially a paperwork shuffle between an attorney and the clerk of court. Typically, no formal court hearings are necessary during an informal probate. In Minnesota, each county has different rules that dictate which type of probate proceeding is used based on the specific details of the decedent’s estate. We recommend that you contact an estate planning and probate attorney for further details.

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Davis Law Firm, P.A.
3006 Allegro Park Ln SW, STE 3
Rochester, MN 55902

Phone: 507-424-6330
Fax: 507-424-6332