Probate

The will, the way & the wisdom

Executing a will, distributing assets, managing the court, handling local laws; the issues of being an executor and the emotional spectrum of being a beneficiary—all of these and more factor into probate work. This is work we at SeilerSchindel perform with savvy skill, thorough precision and deep compassion. Our approach to probate is to make it as seamless and painless as possible. Avoiding all contention and obstacles is always our first plan. At those times when challenges, debate and/or court come into play, we are your wise, steadfast partner in resolving any situation to your best interest.

Formal vs. Informal

The difference between formal and informal probate is the level of involvement by the court. When someone has a will or trust in place, probate is typically going to be informal where the Personal Representative simply keeps the court informed as to the progress. If someone has no will in place or there is a dispute as to the distribution of assets, formal probate occurs and the court has a more direct role in supervising the administration of the estate. In general, the cost of formal probate is significantly higher than informal probate.

Inventory

One of the first steps is to gather an inventory of assets. This includes bank accounts, retirement accounts, personal property, real estate and life insurance. This inventory is assembled by the Personal Representative by searching records and gathering the decedent’s mail for a month to collect financial statements. This inventory is then presented to the court when the probate file is opened.

Personal Representative/Executor

Part of the court’s role in probate is to appoint someone to gather and distribute a person’s assets after they pass; that job falls to the Personal Representative or Executor. The Personal Representative is given authority by the court to collect funds from banks and other financial institutions, and sell property. As the process of gathering assets ends, the Personal Representative is then responsible for distributing the assets according to a will/trust or according to a court order, determining where the assets are to go.


Client Testimonial

RELATED POSTS

SEE ALL POSTS
March 16, 2018

Divorce and Pets: What Happens to Fido?

Effective January 1, 2018, Illinois joined a growing number of states that take a new approach when it comes to pets in divorce. Under the new law in Illinois, during the course of a divorce

March 16, 2018

The New Minneapolis Minimum Wage Ordinance Took Effect on January 1, 2018…But Don’t Forget that the State of Minnesota Also Raised Its Minimum Wage The Same Day!

New Minneapolis Minimum Wage On June 30, 2017, the Minneapolis City Council approved a minimum wage ordinance that will gradually raise the minimum wage in the city to $15 per hour.  The new

March 16, 2018

On January 18, 2018, Leonard Segal Served as a Panelist During Minnesota CLE’s 2018 New Lawyer Experience Program

On January 18, 2018, Leonard Segal served as a panelist for “Quick Answers to the Legal Questions that Friends, Relatives and Strangers Will Ask You at Cocktail Parties.”  This was one of