Page 21 - Ultimate Guide to Estate Planning Third Edition_Neat

If the value of the assets being controlled is
$50,000 or less, then the estate might be
eligible for the “small estates” rules set forth by
the Minnesota legislature. Assets not included
to determine if the small estates rules apply
are: life insurance proceeds, retirement
accounts or assets disposed of by joint tenancy.
In this summary probate format, the personal
representative fills out a few forms, including
an affidavit, and waits a short period of time
before distributing assets in accordance with
the will.

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