Until recently, vehicles in Minnesota were always considered potential probate assets if titled in the decedent’s name alone. This could cause unnecessary and prolonged hassle to surviving family members who either inherited a vehicle or were looking to sell the vehicle. Now, according to new Minnesota Statute 168A.125, vehicles may now allow a transfer-on-death (TOD) […]
As pets continue to be included in estate plans, make sure you’re aware of Minnesota’s Statutory Pet Trust. Big bucks can sometimes be at stake, as was the case here when a famous author left her cats $300,000
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 […]
The Old Law Minnesota estate tax law recently changed in a way that will benefit the estates of wealthy and upper-middle class people. Until recently, Minnesota’s estate tax exemption was at $1.8 million, which means a Minnesota resident could die in 2017 and leave up to $1.8 million dollars tax free to non-spouses. As one […]