Information Gathering: Regardless of whether the estate of a deceased person consists of probate or non-probate assets, or the person died with a Will or without a Will, the following information and documentation needs to be gathered to begin the administration of the estate:

• Location and identification of bank accounts.
• Identification of any securities or investment accounts.
• Life insurance policies and identification of the beneficiaries.
• Identification of any retirement plans which may provide death or survivor benefits.
• The abstract of title and/or copy of real estate tax bills for any real property owned by the deceased person.
• Itemization of all known debts of the deceased person, including any medical assistance which may have been paid.

Non-Probate Assets: Non-probate assets are assets which pass from the estate of a deceased person to their heirs without the need for an action in Probate Court. Examples of non-probate assets include bank accounts, investment accounts, real estate, or other such assets which are held jointly by the deceased person and a surviving joint owner. Life insurance or IRAs with a surviving named beneficiary are also non-probate assets. With non-probate assets, the surviving joint owner or beneficiary typically needs only to complete a beneficiary claim form and provide a certified copy of the Death Certificate to transfer the asset from the estate of the deceased person.

Probate Assets: Probate assets can generally be described as assets held solely in the name of the deceased person without a surviving joint owner or designated beneficiary. If probate assets include real estate of any value or accounts totaling $20,000 or more, a probate action must be commenced in court for the purpose of appointing a personal representative to administer and distribute the estate.

Testate vs. Intestate Probate Estates: A testate estate is one in which the deceased person had a valid Last Will and Testament at the time of their death. Of course, an intestate estate is one in which the deceased person had no Will at the time of their death. The search for a Will, in addition to the obvious places such as home safes, fire boxes, safe deposit boxes, or filing cabinets, should also include inquiry with the Court Administrator to determine if an original will was deposited for safe keeping in the county of the deceased person’s residence.

The Probate Process: If a probate action is required the general process for a testate estate and an intestate estate is very similar. A petition and supporting documents need to be filed with the Court Administrator in the county of residence of the deceased person. This petition contains basic information about the deceased person and identifies the heirs and other interested parties of the estate. Importantly, the petition requests the Probate Court to appoint a personal representative (executor) to have authority to act on behalf of the estate. A court hearing is held for the purpose of reviewing the petition and appointing the personal representative. The Court then issues Letters Testamentary or Letters of General Administration which authorize the appointed personal representative to act on behalf of the estate. These Letters Testamentary or Letters of General Administration typically carry broad powers to access the estate assets for the purpose of paying the estate debts, determining the estate assets and distribution of the estate pursuant to the deceased person’s Will or according to Minnesota law if there is no Will.

Information was provided by Johnson, Larson, Peterson & Matt, P.A. in Buffalo. They can be reached at:

908 Commercial Drive
Buffalo, MN 55313
Telephone: 763-682-4550
Toll Free: 866-682-4550
Fax: 763-682-4465