Is a Probate Proceeding Necessary?

If a person dies in Minnesota owning assets valued at more than $50,000, in their own name with no beneficiary designation, a probate proceeding will be required to properly distribute these assets to the beneficiaries.   If there is a Will, the assets will be distributed according to the terms of the Will.  If there is no Will, the assets will be distributed according to the intestacy statutes of Minnesota.  In either case, a probate proceeding will be necessary.

However, the expense of a probate proceeding can be avoided with a little planning.  For example, if a bank account is changed from a sole account to a joint account, the asset will pass to the other joint account owner upon death of either of the owners, without need for a probate proceeding.  Real estate can be held as joint tenants with right of survivorship, which will provide that upon death of one joint tenant the property is owned by the surviving joint tenant. The surviving joint tenant simply files an Affidavit of Survivorship with the county recorder of the county where the property is located.   Before choosing these non-probate transfers, the individual should be certain that titling these assets in this way reflect their wishes.