Increase to Amount before Probate Required
Before a recent change in the law, an individual could avoid probate at death if they did not own more than $20,000 of probatable assets. That amount has changed and is now $50,000. If you have any questions as to the significance of this change and how it affects you, please call our office.
Transfer on Death Deed
Minnesota law allows individuals to have a Transfer on Death Deed (TODD) for real estate. Prior to this change in the law, an individual could use a Transfer on Death (TOD) designation for securities and a Payable on Death (POD) designation for bank accounts to avoid probate for these assets. Now individuals may use a TODD to avoid probate for real estate in Minnesota.
Please call our office if you wish to discuss the use of a TODD in your estate plan.
1200 Centre Pointe Curve
Mendota Heights, MN 55120