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Last week I shared a few basics about possible simplified probate procedures available in Illinois and Minnesota and today we’ll wrap up our Midwestern exploration with a look at some simplified probate procedures that may be potentially available for anyone subject to the Wisconsin probate system depending on the circumstances.
Simplified Probate in Wisconsin
Wisconsin statutes provide for some...
Yesterday, I shared a few basics about possible simplified probate procedures available in Illinois and today we’ll look at some simplified probate procedures that may be potentially available for anyone subject to the Minnesota probate system depending on the circumstances.
Simplified Probate in Minnesota
Minnesota has a few options for simplified probate, one of which is the possibility of skipping probate altogether by using an affidavit.
Minnesota has a procedure that...
As I pointed out in the last post, What the Heck is Probate?, typical probate procedures can often times be burdensome to the personal representative, costly to the estate, and time consuming for beneficiaries that may need funds distributed. Luckily, many states do have some simplified procedures that can be followed in certain situations.
Simplified Probate in Illinois
Illinois has some procedures that make it easier for survivors to transfer property left by a person who has died...
What is Probate?
Probate is the act or process of proving a will is valid and reflects the true wishes of a deceased individual, identifying and inventorying a decedent’s property, paying any taxes and debts and distributing the reminder to the beneficiaries named in the will or according to state law. An easy way to think of the probate process is as a script that guides the orderly transfer of an estate according to specific rules created by each state.
How does the probate process work?
Probate works a little bit differently depending on...
There are a host of developments that can cause property to be distributed in ways other than that which had been intended when the will was written and signed. Many of them are changes in family situation such as births, deaths, divorces, adoptions, marriages, etc. Those changes also don’t necessarily need to directly involve the individual making the will either. Changes in the family situations of those to whom property was originally to be distributed also can have far-reaching, and often times negative effects on...
A will is a simple and effective tool at accomplishing a number of goals and estate planning needs, but it can’t do everything. Here are some goals that a properly drafted and executed will can and cannot accomplish.
A will CAN be used:
A will enables you to determine where your property will go, including to people who are or aren’t your heirs rather than letting it go where the intestacy laws of your state dictate it...
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