Legal Question in Wills and Trusts in Minnesota

Do all estates have to go through probate?

My father recently passed away. He had no assets except for his checking account which had a balance of less than $2,500. No one was joint on the account. My mother is also deceased and there are 4 grown children remaining. Can one of the children close out the account and divide the money among them or does it have to go through some kind of probate? If it does have to go through probate, does a lawyer have to be involved or can the family do it themselves considering the meager amount of money involved?

Thanks.


Asked on 10/07/02, 9:24 pm

1 Answer from Attorneys
David Kelly-952-544-6356 Kelly Law Office

Re: Do all estates have to go through probate?

Problem solved. Any estate that is less than $20,000 can be dealt with by means of an affidavit to collect assets. Your banker may have the form for it in a drawer. One of you or all of you make a statement in the affidavit which says you are entitled to the assets of this deceased person. As long as the estate is under $20,000, the banker or stock broker or whoever is entitled to take your word for it and does not have to do any investigation as to whether you are telling the truth.

If your banker does not have the form, call me (952-544-6356). My fee would be about $200.00.

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Answered on 10/08/02, 1:55 pm


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