The Minnesota Probate process provides an orderly process to receive, evaluate, and accept (or reject) credit card or other debt claimed against the decedent. There are a number of exemptions that the executor and their attorney should carefully consider before paying any of the debts or bills of the decedent.
When a Loved One passes away, it can be a very challenging time for the family. During this time, details can be easily overlooked, and money can be lost. In fact, this is often one of the most important times for managing the estate.
In the late 1960's, I worked for a short time in the Williston, North Dakota, area when the previous oil boom was underway. That boom was big then, but the new petroleum rush in the Bakken Formation is enormous. The Bakken Formation contains twice the oil reserves of Saudi Arabia and three times as much as Texas. Recently developed "fracking" technology has made previously inaccessible petroleum open to drilling.
Today I'd like to tell you a story about a Minnesota family that is concerned about their mother. Three adult children, whom I'll call Judy, Jerry, and Jackie all live in the south metro area of the Twin Cities. Their Dad died a few years ago and their Mom has struggled with the loneliness from his passing. Over the past two years, Mom has been seeing a nice fellow at the senior citizens center where she lives. Recently Mom shocked her children when she announced that she and the new fellow, Hubert, plan to marry.
Did you know that thousands of Minnesotans have Trusts that are ticking time bombs for their families?
The Minnesota Probate process provides an orderly process to receive, evaluate, and accept (or reject) credit card or other debt claimed against the decedent. There are a number of exemptions that the executor and their attorney should carefully consider before paying any of the debts or bills of the decedent.
When a Loved One passes away, it can be a very challenging time for the family. During this time, details can be easily overlooked, and money can be lost. In fact, this is often one of the most important times for managing the estate.
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