Minnesota State Specific Information

Will, Trust, Power of Attorney, and Estate Planning

Official state laws:

Minimum age requirement to:

Holographic will NOT recognized (No Section exists)

State taxes:

Estate tax: Equal to federal credit for state death taxes (Section 291.03)
State gift tax:Inheritance tax: No inheritance tax (Section 291.03)
- No state gift tax (Section 291.03)
- Anatomical Gift Act (Section 145B.07)
Inheritance tax: No inheritance tax (Section 291.03)

Default rules: How property is distributed if there is no will, i.e. laws of intestate succession: (Section 524.2-102 to 524.2-103)

No surviving spouse, but there are surviving children:
- All of the estate goes to the surviving children split equally among them or to their children in accordance to their per stirpes share
Surviving spouse and
- Children of surviving spouse:
  - All of your estate will pass to your spouse
  - Children not of the surviving spouse (for example your children from a previous marriage):
    - $150,000 and one-half (1/2) of your estate to the surviving spouse, and
    - the other one-half (1/2), split equally among the surviving children or to their children in accordance to their per stirpes share
    - No children and both of your parents of deceased:
      - All of your estate will pass to your spouse
    - No children, but at least one of your parents survives you:
      - All of your estate will pass to your spouse
At least one parent survives you, but no surviving spouse or children:
- All of your estate will pass to your surviving parents equally
No spouse, children, or parents:
- Siblings (brothers and sisters) equally or to their children according to their per stirpes share. If none, then to your next of kin

Who must be named as a beneficiary in your will:

Surviving spouse (Section 524.2-302), andChildren, born or adopted, and grandchildren of your deceased children (Section 524.2-202)
- Surviving spouse must be given depends on the length of the marriage; see statute for details (Section 524.2-201 and 524.2-202)
Children, born or adopted, and grandchildren of your deceased children (Section 524.2-202)

Effects of changes in your marital status on your will:

You are divorced from the surviving spouse:
- Revokes will as to divorced surviving spouse (Section 524.2-804)
You get married without changing your will that does not provide for your new spouse:
- Revokes will as to spouse, unless will expressly provides for spouse, but spouse may still be entitled to shares under state intestate law (Section 524.2-301)

Witnesses:

Minimum number of witnesses required: Two (Section 524.2-502)
Are witnesses allowed to be beneficiaries?: Yes (Section 524.2-505)
Requirements to be a witness, witnesses must:
- be at least 18 years of age or a notary public,
- not be the person appointed as your agent, and
- at least must not be your healthcare provider or employee of your healthcare provider

Property ownership (Sections 500.19 and 524.6-203):

Common law state
Jointly held property is presumed to be held as tenancy in common, unless there is express and clear language of a joint tenancy with right of survivorship
Bank account deposits held jointly are payable to any survivor named in the bank account, unless there is clear evidence that the deposit is payable only to one specified survivor
Tenancy by the entirety is not recognized in this state

Other types of wills:

Self-proving wills recognized: Yes, recognized (Section 524.2-504)
Living will: Health Care Living Will (Section 145B-04) requires you to be no longer able to make your own medical decisions
Appointment of Health Care Agent is included in the Health Care Living Will (Section 145B-04)
Durable Power of Attorney (Section 523.01)