As of August 1st of this year, agriculturalists will now be benefited by a change in Minnesota Statutes Section 500.24. The statute has been amended in order to eliminate the need for Revocable Trusts to file with the Minnesota Department of Agriculture.
Previously, Certificate Holders, including Revocable Trusts, were required to be certified and submit annual reports regarding their agricultural interests. Under the revised statute, Revocable Trusts are now exempted from this requirement. Please note that while Revocable Trusts are now exempt, Irrevocable Trusts and other entities are still required to register and submit annual reports.
For more information, read Minnesota Statutes Section 500.24
