When an estate owner dies in Minnesota, it’s not uncommon for his or her estate to go through what’s known as probate. Probate is just the legal term for how an estate is settled. It allows for a Personal Representative to be appointed, who can then oversee the administration of the estate.
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The average cost of probate in Minnesota can vary based on several things like:
Estate size
How complex it is
If someone contests the Will
How many heirs there are
If the Estate Plans left are comprehensive and valid
Whether or not a probate attorney is retained
Etc.
Common Probate Fees in Minnesota
Probate fees in Minnesota can differ, but there are a few costs that are pretty standard.
Various court filing fees
Legal fees (if an attorney is used)
Executor fees/compensation - Minnesota is a reasonable compensation state
Appraisal, Land Survey and Accounting fees
Probate Bonds (almost always required in formal/supervised probates)
Etc.
Common Questions About Probate in Minnesota
How Long Does Probate Take in Minnesota?
Minnesota probate can take a minimum of six months, but could take up to several years. How long it takes just depends on the complexity of the estate.
What is UPC in Minnesota?
The Uniform Probate Code (UPC) was supposed to make a simplified, universal process for all states to follow in regards to probate. But only 18 states have adopted the code so far - Minnesota is one of them. The code stipulates that there are three types of probate proceedings:
Informal
Unsupervised
Supervised formal
How Much Does a Probate Lawyer Cost in Minnesota?
Probate attorney fees in Minnesota can range. Sometimes you can expect a range of $500 - $1,000, but that would suggest a very basic, uncomplicated case.
How to Avoid Probate in Minnesota
Fortunately, there are ways to avoid probate in Minnesota.
Set up a Living Trust
Title property with Joint Ownership, and make Payable on Death (POD) accounts or Transfer on Death (TOD) Deeds
Finally, small estates that don’t meet a certain threshold can also avoid probate.
What is Considered a Small Estate in Minnesota?
In the state of Minnesota, you can avoid probate using the Affidavit process. To do so, the estate must equal less than $75,000 in value. There is a 30-day wait period for this option. If an estate exceeds this amount, or if any real property is solely titled in the decedent's name, it’s most likely the estate will need to go through the probate process to be administered.
Who Pays Probate Fees in Minnesota?
Many people wonder about how the costs associated with probate are paid. The good news is that all the fees and costs, including even probate lawyer fees in Minnesota, can be covered using funds from the estate.
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