What is an executor of an estate in Minnesota?
All property other than real property, including tangible property such as cars, jewelry, and furniture, and intangible property such as stocks, bonds, and cash in a bank account. Formerly known in MN as the “executor,” the person who is appointed by the court to be responsible for administering the estate of a person who has died.
How long does it take to probate an estate in Minnesota?
Preparing a Final Account and closing the estate. The personal representative is personally responsible for probating the estate completely and correctly according to Minnesota law. Most estates are expected to be completed within an 18 month period. If more time is needed, the personal representative must petition the court for an extension.
Where do I file a probate case in Minnesota?
For a person who was a resident of Minnesota, a probate case would generally be filed in the county of their legal residence at the time of death. See Minn. Stat. § 524.3-201(a)(1) . For a person who was not a resident of Minnesota, a probate case would generally be filed in any county where the person owned property at the time of death.
What do you need to know about a Minnesota will?
A legal document describing how a person wants their property distributed after they have died. In order to be valid under Minnesota law, a Will generally must: signed by at least two witnesses over the age of 18. For more information on these requirements and certain exceptions, see Minn. Stat. §§ 524.2-502; 524.2-503 ; 524.2-506; and 524.2-513.
How are executor fees determined in the state of Delaware?
Delaware is a reasonable compensation state for executor fees. In states that use reasonable compensation to determine executor fees, it means compensation is determined by the probate court.
Is Alaska a reasonable compensation State for executor fees?
Alaska is a reasonable compensation state for executor fees. In states that use reasonable compensation to determine executor fees, it means compensation is determined by the probate court.
What are reasonable fees for executor fees in Kansas?
Reasonable fees are not to exceed six percent (6%) for the first $1,000; four percent (4%) for the next $1,000-$5,000; and two percent (2%) for remaining amounts greater than $5,000. Kansas is a reasonable compensation state for executor fees.