Estate administration is the legal process of settling a loved one’s assets and debts after he or she has passed away. The responsibilities involved depends largely on the estate plan the decedent created during his or her life or the default rules of Minnesota law if no such plan was created.
You may find that you have been nominated as Personal Representative or Executor of the estate, or would like to be appointed as such. The Personal Representative is tasked with much responsibility, including contacting heirs and devisees, taking detailed inventory of and collecting all assets, assessing valid claims by creditors against the estate, filing and paying taxes on behalf of the individual and the estate, arranging for the appraisal and sale of property, and filing appropriate documents with the court to ensure finality. The Personal Representative has a fiduciary duty to protect and preserve the estate and is held to a high standard.
You may be an interested party in a loved one’s estate and wish to be kept abreast of its administration. Interested parties are entitled to certain notices and communication, and may wish to contest a will.
Let Bonine Law help you navigate the administration of your loved one’s estate.