Is a smallestate affidavit valid regarding out of state assets?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Is a smallestate affidavit valid regarding out of state assets?

My father has a small estate and shouldn’t need MN probate. Will the MN affidavit of collections be suffient for bank accounts based in WI & NJ?

Asked on September 2, 2011 under Estate Planning, Minnesota

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

In most states in theis country there is a mechanism to probate small estates in a relatively inexpensive and expedited manner. The typical benchmark for the administration or probate of small estates is a maximum of one-hundred thousand dollars ($100,000.00).

As to whether or not a Minnesota affidavit of ocllections being sufficient for bank accounts based in Wisconsin and New Jersey as part of your father's estate, they simply need to be included in the probate or administration of your father's estate presumably being filed in Minnesota. You do not need to worry about New Jersey of Wisconsin law applying to these accounts if your father was a resident of Minnesota when he passed away.

If the bank accounts were "joint tenancy" accounts, they do not need to be included in the probate in that as a matter of law they pass to the surviving person listed on the account.

Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption