Can probate be avoided?

Probate law in Minnesota can be avoided in certain circumstances depending on the type of assets owned by the deceased. In some cases, probate is not necessary or required if the total value of the estate is below certain amounts. In addition, some assets can pass directly to beneficiaries without the need for probate. These include bank accounts or brokerage accounts set up with payable on death (POD) or transfer on death (TOD) designations that direct the account beneficiaries. Life insurance proceeds also typically pass directly to the named beneficiaries, as do some retirement accounts. Other non-probate methods for transferring assets include trusts, joint ownership with right of survivorship and transfer on death deeds. In all of these cases, it is wise to consult an experienced Minnesota probate attorney who can advise as to whether probate can be avoided and explain the best methods of transferring assets without the need for probate proceedings.

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Can probate be avoided?

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