Bill Peterson

Are You Making These Mistakes On Your Social Security?

According to recent studies, half of all eligible Americans, apparently worried about the future of social security or the current economy, are filing for social security at the earliest they can, namely 62 years of age. This is likely to be a mistake ... Read >

Probate Secrets: Safeguard The Estate Assets Promptly After Death

Sadly the death of a person seems to attract predators. Remember the dream in Dickens' Christmas Carol when Ebenezer has died and his maid is stealing his bed linens? Unfortunately things like that can occur in real life. Some burglars read the obit... Read >

Mom Is Getting Married Again - Will I Lose My Inheritance?

Your Dad died a few years ago and Mom has met a nice fellow at the senior citizens center. They plan to marry. Dad left a nice nest egg to Mom to live a good life. He wanted his kids - you and your sister and brother - to get the benefit of his busines... Read >

Who Decides What Happens To Mom's Or Dad's Body?

Mom just died in Minnesota and the children are fighting over whether she should be cremated, where the funeral should be and where she should be buried. This is one of the most unpleasant and emotional issues that can come up when a loved one dies. Be... Read >

Step Series (1 of 5) - My Stepmother Is Taking My Inheritance!

Let me tell you a story: After Mom died, Dad lived alone for awhile and remarried five years ago in Minnesota. The adult children from Dad's first marriage were not pleased with Isabella, Dad's second wife. When Dad became ill, it seemed like Isabella ... Read >

What If The Executor Does Not Do The Job?

When Ted's mother passed away in Minnesota, everyone in the family agreed that his sister Nancy should be the executor or personal representative of Mom's estate. When six months had passed and nothing was getting done, Ted and his four other brothers ... Read >

Probate Series (5 of 5) What Does It Take To Settle An Estate?

In Minnesota, the clock starts running on handling the estate as soon as the personal representative or executor is appointed by the probate court. The executor receives the "Letters Testamentary" from the court if there is a will. If there is no will,... Read >

Probate Series (1 of 5) What Is Probate?

Probate is the process of paying the debts and distributing the assets of someone who has passed away without a will. It involves an executor or personal representative to act on behalf of the estate in completing the process. When a Loved One dies in ... Read >

What Happens When We Go To Probate Court?

In Minnesota, if the estate is one that involves real estate or if the assets are more than $50,000, then in most cases there must be a probate proceeding. This is true whether or not there is a Will. The probate process is begun by a petition which ca... Read >

What Is The Job Of The Executor In Probate?

The person who is charge of administering the estate is called the "personal representative" or "executor". They mean the same thing. Because more people have heard the term executor, I will use that title for the position. The personal records of the... Read >