MN Recently Enacted an updated Transfer on Death Deed (TODD) Law

New requirements for insurers to provided extended coverage for properties with TODD, and warning beneficiaries about insurance issues. This law also enacts instructions on how to divide property among beneficiaries.

Affidavit for Collection of Personal Property

Heirs can use an Affidavit for Collection of Personal Property to collect estate property worth $75,000 or less without going to Court.

Non-Probate Assets

Non-probate assets are bank or brokage accounts that are held jointly or with a payable-on-death beneficiary listed. This includes investment, retirement, or insurance policies that have a beneficiary listed. Or, assets help in a Trust.

MN Recognizes Pet Trusts

A Trust may be created to provide for the care of an animal alive during the settlor's lifetime. The Trust terminates upon the death of the animal.