Minnesota State Specific Information
Will, Trust, Power of Attorney, and Estate Planning
Official state laws:
- Minnesota Statutes Annotated
- Probate jurisdiction rests with the Probate Court
- Probate laws are primarily under Chapter 524
Minimum age requirement to:
- Distribute property by will: 18 (Section 524.2-501)
- Which minor gets property: 21
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
- Children of surviving 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)