Minneapolis Probate Attorney Explains the Difference Between a Formal and Informal Probate
You now know that you need to open a probate. But, what type of probate do you need to pursue? Minnesota has both an informal and formal process. What is the difference?
The main difference is that a formal probate requires a hearing and a formal closing. An informal probate does not need either. Why would you want a formal probate? In most cases, you do not have a choice. Below is a sample list of situations in which courts may NOT allow an informal probate.
- The estate cannot pay its debts (insolvent estate).
- There are unknown or hard-to-locate heirs.
- The Original Will is missing.
- The heirs/beneficiaries disagree on how to distribute assets.
- The heirs disagree on who should be the Personal Representative.
- If there are minor heirs.
- The decedent has children who are not his surviving spouse’s kids.
For further questions on when you may need a formal probate you should consult with an experienced probate lawyer.