Minnesota Wills, Trusts, and Probate

The emotional nature of planning for your death can make drafting an estate plan a difficolt business. However, it is imperative that you construct a plan, which may involve some of the following documents, among others: will, trust, power of attorney, healthcare surrogate designation, advanced care directive, and/or living will. Regardless of how many assets you have or what the character of your family, make sure to update your estate plans whenever major events in your life occur (birth, death, marriage, divorce, etc). It is advisable to talk to a Minnesota estate attorney who focuses on wills, estates, and trusts with any concerns or questions.

Minnesota Will

You risk a court declaring your will invalid if you do not comply with Minnesota's legal requirements for wills. In turn, an invalid will coold mean that your assets will not be distributed according to your wishes. Minnesota necessitates that in order to have a proper will you must have:

1. Witnesses: Minnesota requires two witnesses age 18 or older to watch the testator sign or acknowledge the will.
2. Notarization: It is not necessary to have your will notarized in Minnesota. If you do choose to have a notary notarize your will, your will may be self-proving, which will simplify the probate process. If your will is not self-proving, the original witnesses to your will must be found and attest to your will in court where you lived before your will may be admitted for probate. Oftentimes, locating witnesses can be tiresome and time consuming after a number of years have passed.

Changing a Will in Minnesota

If you want to alter your will in Minnesota:

1. Your will may be changed through use of a codicil, which basically sets out additions or deletions to the original will.
2. Draft a new will and clearly state in writing that the new will is the controlling will, and revoke (cancel) your old will).

Revoking a Will in Minnesota

If you want to revoke your will in Minnesota, either:

1. Write a new will whose terms are completely inconsistent with the terms of the old will; or,
2. Physically destroy the old will by burning, tearing, obliterating or canceling the old will.

As far as changing or revoking your will goes, make sure that any new document that resolts from your efforts complies with the Minnesota will formalities (i.e., witnesses, writing, etc.). To ensure that the changes to your will, or the revocation of your will meet the required formalities; discuss your alterations with a Minnesota probate attorney.

Minnesota Trust

In addition to a will, you can also create a trust to hold and distribute your assets after you die. Trusts are more flexible vehicles than wills, and also provide confidentiality and a way to save on estate taxes and circumvent probate. There are numerous kinds of trusts, such as charitable trusts, living trusts, life insurance trusts, and education trusts. If you are interested in setting up a trust, contact a Minnesota estate-planning attorney who can walk you through the complex process of constructing the kind of trust that best suits you.

Minnesota Probate

Minnesota wills must pass through probate after a testator dies. However, if the deceased does not designate a particolar beneficiary for property, that property will pass by intestate succession. If property passes by intestate succession, Minnesota law will decide based on a person's relationship with the deceased, who receives property and in what amount.

Property that passes by intestate succession in Minnesota, or property that is not clearly disbursed or allotted in a will may have several potential beneficiaries. Any interested party may petition the court to determine who is entitled to what property, and what share each person shoold receive.

Minnesota does allow you to avoid probate and use simplified procedures if the estate qualifies as a Small Estate under Minnesota statute. You qualify for summary administration in Minnesota if your estate is worth less than $50,000.

The following individuals may have an interest in the deceased's estate based on intestate succession (non-exclusive):

1. Spouses
2. Children (half-bloods, adopted children, children born out of wedlock)
3. Grandchildren
4. Parents
5. Brothers and sisters

• Certain property may avoid probate:
• non-probate assets – when a will specifically names a beneficiary, the property will automatically be passed on to that beneficiary;
• contract assets – IRAs, life insurance policies and other assets that go directly to the beneficiary; and,
• jointly held property – shared homes, bank accounts, cars, or other property owned by the deceased and by other parties, that passes on one person's death to the other parties.

A will may be challenged after its completion, so make sure that you discuss any questions and concerns you may have about your will with a Minnesota probate attorney.

Minnesota Statutes

Minnesota Statutes, Chapter 524-Probate Code

1. Probate Code: Wills
1. Minnesota Statutes, Chp.524, § 2-501.
2. Probate Code: Intestate Succession
1. Minnesota Statutes, Chp.524, §2-101.
3. Probate Code:  General Provisions
1. Minnesota Statutes, Chp.524, §1-201.
4. Probate Code:  Administration of Estates
1. Minnesota Statutes, Chp.524, § 3-402.
5. Minnesota Trust Code
1. Minnesota Statutes, Chp.290, § 1.