The North Dakota probate process can require several months, making it challenging for heirs to receive an inheritance in a timely manner. Probate courts provide a key service by ensuring that wills are valid and reflect the decedent’s wishes. The process can still be challenging.
If you are looking for another option to speed up receiving your inheritance while allowing the validation process to run normally, Rockpoint Probate Funding can help. We offer cash advance services that allow you to unlock some of the value of your inheritance now. You can request the money for any reason.
Deciding whether to take advantage of a cash advance on your inheritance is easier when you have a better understanding of North Dakota probate laws.
How Long Does Probate in North Dakota Take?
Even the most basic cases going through probate in North Dakota will take about six months. Probate can take a year or more if complications arise, such as someone disputing the will.
Depending on the circumstances of the case, you can use either informal or formal probate in North Dakota.
- Informal probate is similar to the small estate affidavit available in some other states. It allows a straightforward estate to progress through county court probate within several months. In-person hearings are unnecessary if the personal representative can complete the proper forms.
- Formal probate occurs in cases where the North Dakota district court supervises the process. In-person hearings are common. Formal probate becomes necessary when disputes over the will occur. The formal probate process often takes a year or more.
North Dakota’s 53 counties have their own courts. However, multiple counties combine to create eight district court jurisdictions. If your probate process needs to advance to one of North Dakota’s district courts, it will happen in the district court associated with your loved one’s home county.
If your loved one passed away without a will, you might be able to use informal probate. As long as the potential heirs do not dispute the use of intestate succession in distributing assets, informal probate is a possible option. North Dakota Code § 30.1-04.01 lays out the use of intestate succession. If disputes occur, though, formal probate is likely when no will exists.
Even though North Dakota has some steps for streamlining probate, waiting several months to receive your inheritance can be frustrating. With Rockpoint Probate Funding’s cash advance program, you may be able to receive some money now. Depending on your financial circumstances, this option could significantly benefit you.
Steps To Follow for North Dakota Probate
North Dakota law requires following several steps when going through the probate process:
- The surviving family members file a petition to open the probate process with the North Dakota county court where the decedent lived.
- The court names an executor or personal representative, usually the person named in the will.
- The executor publishes notice of the death in local newspapers to notify creditors.
- The executor takes inventory of all assets in the estate and assigns a value to them.
- The executor pays valid creditors, files tax forms, and pays any taxes.
- The executor distributes the remaining assets to the heirs.
These steps can take several months to complete. North Dakota Code § 30.1-18-19 allows a payment of executor compensation to account for the hours of work required. State law only specifies that the payment be “reasonable.”
How To Avoid Probate in North Dakota
Although some cases can go through the streamlined informal probate process in North Dakota, avoiding probate is the better option to speed up the process further. You have a few options for trying to avoid North Dakota probate.
Living Trust
Through estate planning, North Dakota allows your loved one to set up a living trust before they pass away. This document allows your loved one to maintain control over the assets until then. However, the trust formally holds the assets.
Because your loved one does not have assets in their name at the time of death, there’s no need to go through North Dakota probate. The trust includes instructions for passing the assets to the heirs.
Automatic Transfer
If you have assets that automatically transfer to beneficiaries at the time of death, such as with a life insurance policy, these assets avoid probate.
Small Estate Value
If the estate has less than $50,000 in value, North Dakota law sometimes allows the estate to avoid probate. You may be able to simply file a small estate affidavit to have the assets passed to the heirs in less time than probate requires.
The estate’s personal representative can manage the process without needing oversight from the North Dakota probate court when the estate’s value is small enough.
Do Most Wills Go Through Probate in North Dakota?
In North Dakota, nearly all wills must enter the probate process to verify their validity. If there are any disputes over the will, probate attempts to resolve these disputes, though this prolongs the process even further.
Suppose you have assets that are part of a living trust or automatically pass to beneficiaries. In that case, these assets are often separate from the will and will avoid being tied up in probate.
Tired of Waiting for Probate? Rockpoint Probate Funding Offers Cash Advances
If North Dakota’s lengthy probate process frustrates you, Rockpoint Probate Funding has another option. We offer cash advances based on the value of the portion of the estate that you are expecting to inherit. This option may be a huge relief for those depending on an inheritance to cover a financial need.
We do not base the amount you receive on your credit score or your current employment status. We only consider the value of your potential inheritance.
If you must delay making investments or paying debts while waiting for your inheritance to go through North Dakota probate, a cash advance from Rockpoint Probate Funding can help. To discuss the advantages and disadvantages of using this option in your situation, call us at (323) 484-1063 today.