Revocable Living Trusts in Minnesota
How revocable living trusts work under Minnesota law and the other ways to pass property without probate.
Short answer: Minnesota adopted the Minnesota Trust Code (Chapter 501C), based on the Uniform Trust Code, with one important difference: a trust is revocable only if its terms expressly say it is revocable. Minn. Stat. § 501C.0602
| Revocable living trust | Minnesota adopted the Minnesota Trust Code (Chapter 501C), based on the Uniform Trust Code, with one important difference: a trust is revocable only if its terms expressly say it is revocable. A revocable written trust can be revoked or amended by the method in the trust or, if that method is not exclusive, by another writing showing clear and convincing evidence of intent. An agent can revoke or amend only if the trust allows it or, if the trust is silent, under a power of attorney (other than the statutory short form) that expressly grants that power. Only property titled in the trust avoids probate. Source: Minn. Stat. § 501C.0602 |
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| Ways to avoid probate | Non-probate options include: transfer on death deeds for real estate, recorded before death (Minn. Stat. § 507.071); transfer-on-death titles for motor vehicles (Minn. Stat. § 168A.125); securities registered in transfer-on-death (beneficiary) form (Minn. Stat. § 524.6-302); a revocable trust (Minn. Stat. § 501C.0602); and collection of personal property by affidavit when the probate estate is $75,000 or less (Minn. Stat. § 524.3-1201). TOD deed statute and form: https://www.revisor.mn.gov/statutes/cite/507.071 |
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FAQ
How do living trusts work in Minnesota?
Minnesota adopted the Minnesota Trust Code (Chapter 501C), based on the Uniform Trust Code, with one important difference: a trust is revocable only if its terms expressly say it is revocable. A revocable written trust can be revoked or amended by the method in the trust or, if that method is not exclusive, by another writing showing clear and convincing evidence of intent. An agent can revoke or amend only if the trust allows it or, if the trust is silent, under a power of attorney (other than the statutory short form) that expressly grants that power. Only property titled in the trust avoids probate.
How can you avoid probate in Minnesota?
Non-probate options include: transfer on death deeds for real estate, recorded before death (Minn. Stat. § 507.071); transfer-on-death titles for motor vehicles (Minn. Stat. § 168A.125); securities registered in transfer-on-death (beneficiary) form (Minn. Stat. § 524.6-302); a revocable trust (Minn. Stat. § 501C.0602); and collection of personal property by affidavit when the probate estate is $75,000 or less (Minn. Stat. § 524.3-1201).
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.