Text of MN HF 1228 (2009)
Uniform Probate Code updated, Uniform Estate Tax Apportionment Act, Uniform Disclaimer of Property Interests Act, Uniform Power of Attorney Act, and the Uniform Multiple-Person Accounts Act adopted.
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As introduced
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Bills
86th Legislature (2009 - 2010)
SF369
Introduction
SF 369
Introduction - 86th Legislature (2009 - 2010)
Posted on 02/09/2010 02:12 a.m.
KEY: stricken = removed, old language.
underscored = added, new language.
Version List
SF369 Authors and Status
Rtf
Bill Text Versions
Engrossments
Introduction
Posted on 02/02/2009
Jump to page/line #
Line numbers
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
1.10
1.11
1.12
1.13
1.14
1.15
1.16
1.17
1.18
1.19
1.20
1.21
1.22
1.23
1.24
1.25
1.26
1.27
1.28
2.1
2.2
2.3
2.4
2.5
2.6
2.7
2.8
2.9
2.10
2.11
2.12
2.13
2.14
2.15
2.16
2.17
2.18
2.19
2.20
2.21
2.22
2.23
2.24
2.25
2.26
2.27
2.28
2.29
2.30
2.31
2.32
2.33
2.34
3.1
3.2
3.3
3.4
3.5
3.6
3.7
3.8
3.9
3.10
3.11
3.12
3.13
3.14
3.15
3.16
3.17
3.18
3.19
3.20
3.21
3.22
3.23
3.24
3.25
3.26
3.27
3.28
3.29
3.30
3.31
3.32
3.33
3.34
3.35
4.1
4.2
4.3
4.4
4.5
4.6
4.7
4.8
4.9
4.10
4.11
4.12
4.13
4.14
4.15
4.16
4.17
4.18
4.19
4.20
4.21
4.22
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4.24
4.25
4.26
4.27
4.28
4.29
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4.31
4.32
4.33
4.34
4.35
4.36
5.1
5.2
5.3
5.4
5.5
5.6
5.7
5.8
5.9
5.10
5.11
5.12
5.13
5.14
5.15
5.16
5.17
5.18
5.19
5.20
5.21
5.22
5.23
5.24
5.25
5.26
5.27
5.28
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5.30
5.31
5.32
5.33
5.34
5.35
5.36
6.1
6.2
6.3
6.4
6.5
6.6
6.7
6.8
6.9
6.10
6.11
6.12
6.13
6.14
6.15
6.16
6.17
6.18
6.19
6.20
6.21
6.22
6.23
6.24
6.25
6.26
6.27
6.28
6.29
6.30
6.31
6.32
6.33
6.34
7.1
7.2
7.3
7.4
7.5
7.6
7.7
7.8
7.9
7.10
7.11
7.12
7.13
7.14
7.15
7.16
7.17
7.18
7.19
7.20
7.21
7.22
7.23
7.24
7.25
7.26
7.27
7.28
7.29
7.30
7.31
7.32
7.33
7.34
8.1
8.2
8.3
8.4
8.5
8.6
8.7
8.8
8.9
8.10
8.11
8.12
8.13
8.14
8.15
8.16
8.17
8.18
8.19
8.20
8.21
8.22
8.23
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8.25
8.26
8.27
8.28
8.29
8.30
8.31
8.32
8.33
9.1
9.2
9.3
9.4
9.5
9.6
9.7
9.8
9.9
9.10
9.11
9.12
9.13
9.14
9.15
9.16
9.17
9.18
9.19
9.20
9.21
9.22
9.23
9.24
9.25
9.26
9.27
9.28
9.29
9.30
9.31
9.32
9.33
9.34
9.35
10.1
10.2
10.3
10.4
10.5
10.6
10.7
10.8
10.9
10.10
10.11
10.12
10.13
10.14
10.15
10.16
10.17
10.18
10.19
10.20
10.21
10.22
10.23
10.24
10.25
10.26
10.27
10.28
10.29
10.30
10.31
10.32
10.33
11.1
11.2
11.3
11.4
11.5
11.6
11.7
11.8
11.9
11.10
11.11
11.12
11.13
11.14
11.15
11.16
11.17
11.18
11.19
11.20
11.21
11.22
11.23
11.24
11.25
11.26
11.27
11.28
11.29
11.30
11.31
11.32
11.33
11.34
12.1
12.2
12.3
12.4
12.5
12.6
12.7
12.8
12.9
12.10
12.11
12.12
12.13
12.14
12.15
12.16
12.17
12.18
12.19
12.20
12.21
12.22
12.23
12.24
12.25
12.26
12.27
12.28
12.29
12.30
12.31
12.32
12.33
12.34
12.35
13.1
13.2
13.3
13.4
13.5
13.6
13.7
13.8
13.9
13.10
13.11
13.12
13.13
13.14
13.15
13.16
13.17
13.18
13.19
13.20
13.21
13.22
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13.24
13.25
13.26
13.27
13.28
13.29
13.30
13.31
13.32
13.33
13.34
14.1
14.2
14.3
14.4
14.5
14.6
14.7
14.8
14.9
14.10
14.11
14.12
14.13
14.14
14.15
14.16
14.17
14.18
14.19
14.20
14.21
14.22
14.23
14.24
14.25
14.26
14.27
14.28
14.29
14.30
14.31
14.32
14.33
14.34
14.35
14.36
15.1
15.2
15.3
15.4
15.5
15.6
15.7
15.8
15.9
15.10
15.11
15.12
15.13
15.14
15.15
15.16
15.17
15.18
15.19
15.20
15.21
15.22
15.23
15.24
15.25
15.26
15.27
15.28
15.29
15.30
15.31
15.32
15.33
15.34
15.35
16.1
16.2
16.3
16.4
16.5
16.6
16.7
16.8
16.9
16.10
16.11
16.12
16.13
16.14
16.15
16.16
16.17
16.18
16.19
16.20
16.21
16.22
16.23
16.24
16.25
16.26
16.27
16.28
16.29
16.30
16.31
16.32
16.33
16.34
16.35
16.36
16.37
17.1
17.2
17.3
17.4
17.5
17.6
17.7
17.8
17.9
17.10
17.11
17.12
17.13
17.14
17.15
17.16
17.17
17.18
17.19
17.20
17.21
17.22
17.23
17.24
17.25
17.26
17.27
17.28
17.29
17.30
17.31
17.32
17.33
17.34
17.35
18.1
18.2
18.3
18.4
18.5
18.6
18.7
18.8
18.9
18.10
18.11
18.12
18.13
18.14
18.15
18.16
18.17
18.18
18.19
18.20
18.21
18.22
18.23
18.24
18.25
18.26
18.27
18.28
18.29
18.30
18.31
18.32
18.33
18.34
19.1
19.2
19.3
19.4
19.5
19.6
19.7
19.8
19.9
19.10
19.11
19.12
19.13
19.14
19.15
19.16
19.17
19.18
19.19
19.20
19.21
19.22
19.23
19.24
19.25
19.26
19.27
19.28
19.29
19.30
19.31
19.32
19.33
20.1
20.2
20.3
20.4
20.5
20.6
20.7
20.8
20.9
20.10
20.11
20.12
20.13
20.14
20.15
20.16
20.17
20.18
20.19
20.20
20.21
20.22
20.23
20.24
20.25
20.26
20.27
20.28
20.29
20.30
20.31
20.32
20.33
20.34
21.1
21.2
21.3
21.4
21.5
21.6
21.7
21.8
21.9
21.10
21.11
21.12
21.13
21.14
21.15
21.16
21.17
21.18
21.19
21.20
21.21
21.22
21.23
21.24
21.25
21.26
21.27
21.28
21.29
21.30
21.31
21.32
21.33
22.1
22.2
22.3
22.4
22.5
22.6
22.7
22.8
22.9
22.10
22.11
22.12
22.13
22.14
22.15
22.16
22.17
22.18
22.19
22.20
22.21
22.22
22.23
22.24
22.25
22.26
22.27
22.28
22.29
22.30
22.31
22.32
22.33
23.1
23.2
23.3
23.4
23.5
23.6
23.7
23.8
23.9
23.10
23.11
23.12
23.13
23.14
23.15
23.16
23.17
23.18
23.19
23.20
23.21
23.22
23.23
23.24
23.25
23.26
23.27
23.28
23.29
23.30
23.31
23.32
23.33
24.1
24.2
24.3
24.4
24.5
24.6
24.7
24.8
24.9
24.10
24.11
24.12
24.13
24.14
24.15
24.16
24.17
24.18
24.19
24.20
24.21
24.22
24.23
24.24
24.25
24.26
24.27
24.28
24.29
24.30
24.31
24.32
24.33
24.34
24.35
25.1
25.2
25.3
25.4
25.5
25.6
25.7
25.8
25.9
25.10
25.11
25.12
25.13
25.14
25.15
25.16
25.17
25.18
25.19
25.20
25.21
25.22
25.23
25.24
25.25
25.26
25.27
25.28
25.29
25.30
25.31
25.32
25.33
25.34
25.35
25.36
26.1
26.2
26.3
26.4
26.5
26.6
26.7
26.8
26.9
26.10
26.11
26.12
26.13
26.14
26.15
26.16
26.17
26.18
26.19
26.20
26.21
26.22
26.23
26.24
26.25
26.26
26.27
26.28
26.29
26.30
26.31
26.32
26.33
26.34
26.35
26.36
27.1
27.2
27.3
27.4
27.5
27.6
27.7
27.8
27.9
27.10
27.11
27.12
27.13
27.14
27.15
27.16
27.17
27.18
27.19
27.20
27.21
27.22
27.23
27.24
27.25
27.26
27.27
27.28
27.29
27.30
27.31
27.32
27.33
27.34
27.35
28.1
28.2
28.3
28.4
28.5
28.6
28.7
28.8
28.9
28.10
28.11
28.12
28.13
28.14
28.15
28.16
28.17
28.18
28.19
28.20
28.21
28.22
28.23
28.24
28.25
28.26
28.27
28.28
28.29
28.30
28.31
28.32
28.33
28.34
28.35
28.36
29.1
29.2
29.3
29.4
29.5
29.6
29.7
29.8
29.9
29.10
29.11
29.12
29.13
29.14
29.15
29.16
29.17
29.18
29.19
29.20
29.21
29.22
29.23
29.24
29.25
29.26
29.27
29.28
29.29
29.30
29.31
29.32
29.33
29.34
29.35
29.36
30.1
30.2
30.3
30.4
30.5
30.6
30.7
30.8
30.9
30.10
30.11
30.12
30.13
30.14
30.15
30.16
30.17
30.18
30.19
30.20
30.21
30.22
30.23
30.24
30.25
30.26
30.27
30.28
30.29
30.30
30.31
30.32
30.33
30.34
30.35
30.36
31.1
31.2
31.3
31.4
31.5
31.6
31.7
31.8
31.9
31.10
31.11
31.12
31.13
31.14
31.15
31.16
31.17
31.18
31.19
31.20
31.21
31.22
31.23
31.24
31.25
31.26
31.27
31.28
31.29
31.30
31.31
31.32
31.33
31.34
31.35
32.1
32.2
32.3
32.4
32.5
32.6
32.7
32.8
32.9
32.10
32.11
32.12
32.13
32.14
32.15
32.16
32.17
32.18
32.19
32.20
32.21
32.22
32.23
32.24
32.25
32.26
32.27
32.28
32.29
32.30
32.31
32.32
32.33
32.34
32.35
33.1
33.2
33.3
33.4
33.5
33.6
33.7
33.8
33.9
33.10
33.11
33.12
33.13
33.14
33.15
33.16
33.17
33.18
33.19
33.20
33.21
33.22
33.23
33.24
33.25
33.26
33.27
33.28
33.29
33.30
33.31
33.32
33.33
34.1
34.2
34.3
34.4
34.5
34.6
34.7
34.8
34.9
34.10
34.11
34.12
34.13
34.14
34.15
34.16
34.17
34.18
34.19
34.20
34.21
34.22
34.23
34.24
34.25
34.26
34.27
34.28
34.29
34.30
34.31
34.32
34.33
34.34
35.1
35.2
35.3
35.4
35.5
35.6
35.7
35.8
35.9
35.10
35.11
35.12
35.13
35.14
35.15
35.16
35.17
35.18
35.19
35.20
35.21
35.22
35.23
35.24
35.25
35.26
35.27
35.28
35.29
35.30
35.31
35.32
36.1
36.2
36.3
36.4
36.5
36.6
36.7
36.8
36.9
36.10
36.11
36.12
36.13
36.14
36.15
36.16
36.17
36.18
36.19
36.20
36.21
36.22
36.23
36.24
36.25
36.26
36.27
36.28
36.29
36.30
36.31
36.32
36.33
37.1
37.2
37.3
37.4
37.5
37.6
37.7
37.8
37.9
37.10
37.11
37.12
37.13
37.14
37.15
37.16
37.17
37.18
37.19
37.20
37.21
37.22
37.23
37.24
37.25
37.26
37.27
37.28
37.29
37.30
37.31
37.32
37.33
37.34
37.35
38.1
38.2
38.3
38.4
38.5
38.6
38.7
38.8
38.9
38.10
38.11
38.12
38.13
38.14
38.15
38.16
38.17
38.18
38.19
38.20
38.21
38.22
38.23
38.24
38.25
38.26
38.27
38.28
38.29
38.30
38.31
38.32
38.33
38.34
39.1
39.2
39.3
39.4
39.5
39.6
39.7
39.8
39.9
39.10
39.11
39.12
39.13
39.14
39.15
39.16
39.17
39.18
39.19
39.20
39.21
39.22
39.23
39.24
39.25
39.26
39.27
39.28
39.29
39.30
39.31
39.32
39.33
40.1
40.2
40.3
40.4
40.5
40.6
40.7
40.8
40.9
40.10
40.11
40.12
40.13
40.14
40.15
40.16
40.17
40.18
40.19
40.20
40.21
40.22
40.23
40.24
40.25
40.26
40.27
40.28
40.29
40.30
40.31
40.32
40.33
40.34
40.35
41.1
41.2
41.3
41.4
41.5
41.6
41.7
41.8
41.9
41.10
41.11
41.12
41.13
41.14
41.15
41.16
41.17
41.18
41.19
41.20
41.21
41.22
41.23
41.24
41.25
41.26
41.27
41.28
41.29
41.30
41.31
41.32
41.33
41.34
42.1
42.2
42.3
42.4
42.5
42.6
42.7
42.8
42.9
42.10
42.11
42.12
42.13
42.14
42.15
42.16
42.17
42.18
42.19
42.20
42.21
42.22
42.23
42.24
42.25
42.26
42.27
42.28
42.29
42.30
43.1
43.2
43.3
43.4
43.5
43.6
43.7
43.8
43.9
43.10
43.11
43.12
43.13
43.14
43.15
43.16
43.17
43.18
43.19
43.20
43.21
43.22
43.23
43.24
43.25
43.26
43.27
43.28
43.29
43.30
43.31
43.32
43.33
43.34
43.35
43.36
44.1
44.2
44.3
44.4
44.5
44.6
44.7
44.8
44.9
44.10
44.11
44.12
44.13
44.14
44.15
44.16
44.17
44.18
44.19
44.20
44.21
44.22
44.23
44.24
44.25
44.26
44.27
44.28
44.29
44.30
44.31
44.32
45.1
45.2
45.3
45.4
45.5
45.6
45.7
45.8
45.9
45.10
45.11
45.12
45.13
45.14
45.15
45.16
45.17
45.18
45.19
45.20
45.21
45.22
45.23
45.24
45.25
45.26
45.27
45.28
45.29
45.30
45.31
45.32
46.1
46.2
46.3
46.4
46.5
46.6
46.7
46.8
46.9
46.10
46.11
46.12
46.13
46.14
46.15
46.16
46.17
46.18
46.19
46.20
46.21
46.22
46.23
46.24
46.25
46.26
46.27
46.28
46.29
46.30
46.31
46.32
46.33
46.34
46.35
47.1
47.2
47.3
47.4
47.5
47.6
47.7
47.8
47.9
47.10
47.11
47.12
47.13
47.14
47.15
47.16
47.17
47.18
47.19
47.20
47.21
47.22
47.23
47.24
47.25
47.26
47.27
47.28
47.29
47.30
47.31
47.32
48.1
48.2
48.3
48.4
48.5
48.6
48.7
48.8
48.9
48.10
48.11
48.12
48.13
48.14
48.15
48.16
48.17
48.18
48.19
48.20
48.21
48.22
48.23
48.24
48.25
48.26
48.27
48.28
48.29
48.30
48.31
48.32
48.33
48.34
48.35
49.1
49.2
49.3
49.4
49.5
49.6
49.7
49.8
49.9
49.10
49.11
49.12
49.13
49.14
49.15
49.16
49.17
49.18
49.19
49.20
49.21
49.22
49.23
49.24
49.25
49.26
49.27
49.28
49.29
49.30
49.31
49.32
49.33
49.34
50.1
50.2
50.3
50.4
50.5
50.6
50.7
50.8
50.9
50.10
50.11
50.12
50.13
50.14
50.15
50.16
50.17
50.18
50.19
50.20
50.21
50.22
50.23
50.24
50.25
50.26
50.27
50.28
50.29
50.30
50.31
51.1
51.2
51.3
51.4
51.5
51.6
51.7
51.8
51.9
51.10
51.11
51.12
51.13
51.14
51.15
51.16
51.17
51.18
51.19
51.20
51.21
51.22
51.23
51.24
51.25
51.26
51.27
51.28
51.29
51.30
51.31
51.32
51.33
51.34
51.35
52.1
52.2
52.3
52.4
52.5
52.6
52.7
52.8
52.9
52.10
52.11
52.12
52.13
52.14
52.15
52.16
52.17
52.18
52.19
52.20
52.21
52.22
52.23
52.24
52.25
52.26
52.27
52.28
52.29
52.30
52.31
52.32
52.33
53.1
53.2
53.3
53.4
53.5
53.6
53.7
53.8
53.9
53.10
53.11
53.12
53.13
53.14
53.15
53.16
53.17
53.18
53.19
53.20
53.21
53.22
53.23
53.24
53.25
53.26
53.27
53.28
53.29
53.30
53.31
53.32
53.33
54.1
54.2
54.3
54.4
54.5
54.6
54.7
54.8
54.9
54.10
54.11
54.12
54.13
54.14
54.15
54.16
54.17
54.18
54.19
54.20
54.21
54.22
54.23
54.24
54.25
54.26
54.27
54.28
54.29
54.30
54.31
54.32
54.33
54.34
55.1
55.2
55.3
55.4
55.5
55.6
55.7
55.8
55.9
55.10
55.11
55.12
55.13
55.14
55.15
55.16
55.17
55.18
55.19
55.20
55.21
55.22
55.23
55.24
55.25
55.26
55.27
55.28
55.29
55.30
55.31
55.32
55.33
55.34
55.35
56.1
56.2
56.3
56.4
56.5
56.6
56.7
56.8
56.9
56.10
56.11
56.12
56.13
56.14
56.15
56.16
56.17
56.18
56.19
56.20
56.21
56.22
56.23
56.24
56.25
56.26
56.27
56.28
56.29
56.30
56.31
56.32
56.33
56.34
57.1
57.2
57.3
57.4
57.5
57.6
57.7
57.8
57.9
57.10
57.11
57.12
57.13
57.14
57.15
57.16
57.17
57.18
57.19
57.20
57.21
57.22
57.23
57.24
57.25
57.26
57.27
57.28
57.29
57.30
57.31
57.32
57.33
58.1
58.2
58.3
58.4
58.5
58.6
58.7
58.8
58.9
58.10
58.11
58.12
58.13
58.14
58.15
58.16
58.17
58.18
58.19
58.20
58.21
58.22
58.23
58.24
58.25
58.26
58.27
58.28
58.29
58.30
58.31
58.32
58.33
58.34
59.1
59.2
59.3
59.4
59.5
59.6
59.7
59.8
59.9
59.10
59.11
59.12
59.13
59.14
59.15
59.16
59.17
59.18
59.19
59.20
59.21
59.22
59.23
59.24
59.25
59.26
59.27
59.28
59.29
59.30
59.31
59.32
59.33
59.34
59.35
60.1
60.2
60.3
60.4
60.5
60.6
60.7
60.8
60.9
60.10
60.11
60.12
60.13
60.14
60.15
60.16
60.17
60.18
60.19
60.20
60.21
60.22
60.23
60.24
60.25
60.26
60.27
60.28
60.29
60.30
60.31
60.32
60.33
60.34
61.1
61.2
61.3
61.4
61.5
61.6
61.7
61.8
61.9
61.10
61.11
61.12
61.13
61.14
61.15
61.16
61.17
61.18
61.19
61.20
61.21
61.22
61.23
61.24
61.25
61.26
61.27
61.28
61.29
61.30
61.31
61.32
61.33
61.34
62.1
62.2
62.3
62.4
62.5
62.6
62.7
62.8
62.9
62.10
62.11
62.12
62.13
62.14
62.15
62.16
62.17
62.18
62.19
62.20
62.21
62.22
62.23
62.24
62.25
62.26
62.27
62.28
62.29
62.30
62.31
62.32
62.33
62.34
62.35
63.1
63.2
63.3
63.4
63.5
63.6
63.7
63.8
63.9
63.10
63.11
63.12
63.13
63.14
63.15
63.16
63.17
63.18
63.19
63.20
63.21
63.22
63.23
63.24
63.25
63.26
63.27
63.28
63.29
63.30
63.31
63.32
63.33
63.34
64.1
64.2
64.3
64.4
64.5
64.6
64.7
64.8
64.9
64.10
64.11
64.12
64.13
64.14
64.15
64.16
64.17
64.18
64.19
64.20
64.21
64.22
64.23
64.24
64.25
64.26
64.27
64.28
64.29
64.30
64.31
64.32
64.33
65.1
65.2
65.3
65.4
65.5
65.6
65.7
65.8
65.9
65.10
65.11
65.12
65.13
65.14
65.15
65.16
65.17
65.18
65.19
65.20
65.21
65.22
65.23
65.24
65.25
65.26
65.27
65.28
65.29
65.30
65.31
65.32
65.33
65.34
65.35
66.1
66.2
66.3
66.4
66.5
66.6
66.7
66.8
66.9
66.10
66.11
66.12
66.13
66.14
66.15
66.16
66.17
66.18
66.19
66.20
66.21
66.22
66.23
66.24
66.25
66.26
66.27
66.28
66.29
66.30
66.31
66.32
66.33
66.34
66.35
67.1
67.2
67.3
67.4
67.5
67.6
67.7
67.8
67.9
67.10
67.11
67.12
67.13
67.14
67.15
67.16
67.17
67.18
67.19
67.20
67.21
67.22
67.23
67.24
67.25
67.26
67.27
67.28
67.29
67.30
67.31
67.32
67.33
68.1
68.2
68.3
68.4
68.5
68.6
68.7
68.8
68.9
68.10
68.11
68.12
68.13
68.14
68.15
68.16
68.17
68.18
68.19
68.20
68.21
68.22
68.23
68.24
68.25
68.26
68.27
68.28
68.29
68.30
68.31
68.32
68.33
68.34
68.35
68.36
68.37
69.1
69.2
69.3
69.4
69.5
69.6
69.7
69.8
69.9
69.10
69.11
69.12
69.13
69.14
69.15
69.16
69.17
69.18
69.19
69.20
69.21
69.22
69.23
69.24
69.25
69.26
69.27
69.28
69.29
69.30
69.31
69.32
69.33
69.34
69.35
69.36
69.37
70.1
70.2
70.3
70.4
70.5
70.6
70.7
70.8
70.9
70.10
70.11
70.12
70.13
70.14
70.15
70.16
70.17
70.18
70.19
70.20
70.21
70.22
70.23
70.24
70.25
70.26
70.27
70.28
70.29
70.30
70.31
70.32
70.33
70.34
70.35
70.36
70.37
70.38
71.1
71.2
71.3
71.4
71.5
71.6
71.7
71.8
71.9
71.10
71.11
71.12
71.13
71.14
71.15
71.16
71.17
71.18
71.19
71.20
71.21
71.22
71.23
71.24
71.25
71.26
71.27
71.28
71.29
71.30
71.31
71.32
71.33
71.34
72.1
72.2
72.3
72.4
72.5
72.6
72.7
72.8
72.9
72.10
72.11
72.12
72.13
72.14
72.15
72.16
72.17
72.18
72.19
72.20
72.21
72.22
72.23
72.24
72.25
72.26
72.27
72.28
72.29
72.30
72.31
72.32
72.33
72.34
72.35
72.36
73.1
73.2
73.3
73.4
73.5
73.6
73.7
73.8
73.9
73.10
73.11
73.12
73.13
73.14
73.15
73.16
73.17
73.18
73.19
73.20
73.21
73.22
73.23
73.24
73.25
73.26
73.27
73.28
73.29
74.1
74.2
74.3
74.4
74.5
74.6
74.7
74.8
74.9
74.10
74.11
74.12
74.13
74.14
74.15
74.16
74.17
74.18
74.19
74.20
74.21
74.22
74.23
74.24
74.25
74.26
74.27
74.28
74.29
74.30
74.31
74.32
74.33
74.34
75.1
75.2
75.3
75.4
75.5
75.6
75.7
75.8
75.9
75.10
75.11
75.12
75.13
75.14
75.15
75.16
75.17
75.18
75.19
75.20
75.21
75.22
75.23
75.24
75.25
75.26
75.27
75.28
75.29
75.30
75.31
75.32
75.33
75.34
75.35
75.36
76.1
76.2
76.3
76.4
76.5
76.6
76.7
76.8
76.9
76.10
76.11
76.12
76.13
76.14
76.15
76.16
76.17
76.18
76.19
76.20
76.21
76.22
76.23
76.24
76.25
76.26
76.27
76.28
76.29
76.30
76.31
76.32
76.33
77.1
77.2
77.3
77.4
77.5
77.6
77.7
77.8
77.9
77.10
77.11
77.12
77.13
77.14
77.15
77.16
77.17
77.18
77.19
77.20
77.21
77.22
77.23
77.24
77.25
77.26
77.27
77.28
77.29
77.30
77.31
77.32
77.33
77.34
78.1
78.2
78.3
78.4
78.5
78.6
78.7
78.8
78.9
78.10
78.11
78.12
78.13
78.14
78.15
78.16
78.17
78.18
78.19
78.20
78.21
78.22
78.23
78.24
78.25
78.26
78.27
78.28
78.29
78.30
78.31
78.32
78.33
78.34
78.35
78.36
78.37
78.38
78.39
79.1
79.2
79.3
79.4
79.5
79.6
79.7
79.8
79.9
79.10
79.11
79.12
79.13
79.14
79.15
79.16
79.17
79.18
79.19
79.20
79.21
79.22
79.23
79.24
79.25
79.26
79.27
79.28
79.29
79.30
79.31
79.32
79.33
79.34
79.35
79.36
80.1
80.2
80.3
80.4
80.5
80.6
80.7
80.8
80.9
80.10
80.11
80.12
80.13
80.14
80.15
80.16
80.17
80.18
80.19
80.20
80.21
80.22
80.23
80.24
80.25
80.26
80.27
80.28
80.29
80.30
80.31
80.32
80.33
80.34
80.35
81.1
81.2
81.3
81.4
81.5
81.6
81.7
81.8
81.9
81.10
81.11
81.12
81.13
81.14
81.15
81.16
81.17
81.18
81.19
81.20
81.21
81.22
81.23
81.24
81.25
81.26
81.27
81.28
81.29
81.30
81.31
81.32
82.1
82.2
82.3
82.4
82.5
82.6
82.7
82.8
82.9
82.10
82.11
82.12
82.13
82.14
82.15
82.16
82.17
82.18
82.19
82.20
82.21
82.22
82.23
82.24
82.25
82.26
82.27
82.28
82.29
82.30
82.31
82.32
82.33
82.34
82.35
82.36
83.1
83.2
83.3
83.4
83.5
83.6
83.7
83.8
83.9
83.10
83.11
83.12
83.13
83.14
83.15
83.16
83.17
83.18
83.19
83.20
83.21
83.22
83.23
83.24
83.25
83.26
83.27
83.28
83.29
83.30
84.1
84.2
84.3
84.4
84.5
84.6
84.7
84.8
84.9
84.10
84.11
84.12
84.13
84.14
84.15
84.16
84.17
84.18
84.19
84.20
84.21
84.22
84.23
84.24
84.25
84.26
84.27
84.28
84.29
84.30
84.31
84.32
84.33
85.1
85.2
85.3
85.4
85.5
85.6
85.7
85.8
85.9
85.10
85.11
85.12
85.13
85.14
85.15
85.16
85.17
85.18
85.19
85.20
85.21
85.22
85.23
85.24
85.25
85.26
85.27
85.28
85.29
85.30
85.31
85.32
86.1
86.2
86.3
86.4
86.5
86.6
86.7
86.8
86.9
86.10
86.11
86.12
86.13
86.14
86.15
86.16
86.17
86.18
86.19
86.20
86.21
86.22
86.23
86.24
86.25
86.26
86.27
86.28
86.29
86.30
86.31
86.32
86.33
86.34
87.1
87.2
87.3
87.4
87.5
87.6
87.7
87.8
87.9
87.10
87.11
87.12
87.13
87.14
87.15
87.16
87.17
87.18
87.19
87.20
87.21
87.22
87.23
87.24
87.25
87.26
87.27
87.28
87.29
87.30
87.31
88.1
88.2
88.3
88.4
88.5
88.6
88.7
88.8
88.9
88.10
88.11
88.12
88.13
88.14
88.15
88.16
88.17
88.18
88.19
88.20
88.21
88.22
88.23
88.24
88.25
88.26
88.27
88.28
88.29
88.30
88.31
88.32
88.33
88.34
89.1
89.2
89.3
89.4
89.5
89.6
89.7
89.8
89.9
89.10
89.11
89.12
89.13
89.14
89.15
89.16
89.17
89.18
89.19
89.20
89.21
89.22
89.23
89.24
89.25
89.26
89.27
89.28
89.29
89.30
89.31
89.32
90.1
90.2
90.3
90.4
90.5
90.6
90.7
90.8
90.9
90.10
90.11
90.12
A bill for an act
relating to estates and trusts; updating the Uniform Probate Code; adopting
the Uniform Estate Tax Apportionment Act, the Uniform Disclaimer of
Property Interests Act, the Uniform Power of Attorney Act, and the Uniform
Multiple-Person Accounts Act; amending Minnesota Statutes 2008, sections
524.1-201; 524.2-102; 524.2-103; 524.2-104; 524.2-114; 524.2-115; 524.2-202;
524.2-403; 524.2-502; 524.2-504; 524.2-705; 524.3-406; 524.3-916; 524.8-101;
proposing coding for new law in Minnesota Statutes, chapter 524; proposing
coding for new law as Minnesota Statutes, chapters 523A; 524A; repealing
Minnesota Statutes 2008, sections 501B.86; 523.01; 523.02; 523.03; 523.04;
523.05; 523.06; 523.07; 523.075; 523.08; 523.09; 523.10; 523.11; 523.12;
523.13; 523.131; 523.14; 523.15; 523.16; 523.17; 523.18; 523.19; 523.20;
523.21; 523.22; 523.23; 523.24; 524.2-108; 524.6-201; 524.6-202; 524.6-203;
524.6-204; 524.6-205; 524.6-206; 524.6-207; 524.6-208; 524.6-209; 524.6-210;
524.6-211; 524.6-212; 524.6-213; 524.6-214; 525.532.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
ARTICLE 1
UNIFORM PROBATE CODE AMENDMENTS
Section 1.
new text begin
[524.1-109] COST-OF-LIVING ADJUSTMENT OF CERTAIN
DOLLAR AMOUNTS.
new text end
new text begin
(a) In this section:
new text end
new text begin
(1) "CPI" means the Consumer Price Index (Annual Average) for All Urban
Consumers (CPI-U): U.S. city average - All items, reported by the Bureau of Labor
Statistics, United States Department of Labor or its successor, or, if that index is
discontinued, an equivalent index reported by a federal authority. If no such index is
reported, the term means the substitute index chosen by the commissioner of human
services; and
new text end
new text begin
(2) "reference base index" means the CPI for calendar year 2009.
new text end
new text begin
(b) The dollar amounts stated in sections 524.2-102; 524.2-202, paragraph (b);
524.2-402; 524.2-403; and 524.2-405 apply to the estates of decedents who die in or after
January 1, 2010, except that, for the estates of decedents dying after January 1, 2010,
these dollar amounts must be increased or decreased if the CPI for the calendar year
immediately preceding the year of death exceeds or is less than the reference base index.
The amount of any increase or decrease is computed by multiplying each dollar amount by
the percentage by which the CPI for the calendar year immediately preceding the year
of death exceeds or is less than the reference base index. If any increase or decrease
produced by the computation is not a multiple of $100, the increase or decrease is rounded
down, if an increase, or up, if a decrease, to the next multiple of $100, except that, for
purposes of section 524.2-405, the periodic installment amount is the lump-sum amount
divided by 12. If the CPI for the year immediately prior to January 1, 2010, is changed
by the Bureau of Labor Statistics, the reference base index must be revised using the
rebasing factor published by the Bureau of Labor Statistics, or other comparable data if a
rebasing factor is not published.
new text end
new text begin
(c) Before February 1, 2011, and before February 1 of each succeeding year, the
Department of Human Services shall publish a cumulative list, beginning with the dollar
amounts effective for the estates of decedents dying in 2011, of each dollar amount as
increased or decreased under this section.
new text end
Sec. 2.
Minnesota Statutes 2008, section 524.1-201, is amended to read:
524.1-201 GENERAL DEFINITIONS.
new text begin
Subdivision 1.
new text end
new text begin
Scope.
new text end
Subject to additional definitions contained in the subsequent
articles which are applicable to specific articles deleted text begin ordeleted text end new text begin ,new text end parts,new text begin or sections,new text end and unless the
context otherwise requires, deleted text begin indeleted text end new text begin the definitions in this section apply tonew text end chapters 524 and 525deleted text begin :deleted text end new text begin .
new text end
new text begin
Subd. 2.
new text end
new text begin
Application.
new text end
deleted text begin (2)deleted text end "Application" means a written request to the registrar for
an order of informal probate or appointment under article III, part 3.
new text begin
Subd. 3.
new text end
new text begin
Beneficiary.
new text end
deleted text begin (3)deleted text end "Beneficiary," as it relates to trust beneficiaries, includes a
person who has any present or future interest, vested or contingent, and also includes the
owner of an interest by assignment or other transfer and as it relates to a charitable trust,
includes any person entitled to enforce the trust.
new text begin
Subd. 4.
new text end
new text begin
Child.
new text end
deleted text begin (5)deleted text end "Child" includes any individual entitled to take as a child
under law by intestate succession from the parent whose relationship is involved and
excludes any person who is only a stepchild, a foster child, a grandchild or any more
remote descendant.
new text begin
Subd. 5.
new text end
new text begin
Claims.
new text end
deleted text begin (6)deleted text end "Claims" includes liabilities of the decedent whether arising
in contract or otherwise and liabilities of the estate which arise after the death of the
decedent including funeral expenses and expenses of administration. The term does not
include taxes, demands or disputes regarding title of a decedent to specific assets alleged
to be included in the estate, tort claims, foreclosure of mechanic's liens, or to actions
pursuant to section 573.02.
new text begin
Subd. 6.
new text end
new text begin
Conservator.
new text end
new text begin
"Conservator" means a person who is appointed by a court
to manage the estate of a protected person.
new text end
new text begin
Subd. 7.
new text end
new text begin
Court.
new text end
deleted text begin (7)deleted text end "Court" means the court or branch having jurisdiction in matters
relating to the affairs of decedents. This court in this state is known as the district court.
deleted text begin
(8) "Conservator" means a person who is appointed by a court to manage the estate
of a protected person.
deleted text end
new text begin
Subd. 8.
new text end
new text begin
Descendant.
new text end
deleted text begin (9)deleted text end "Descendant" of an individual means all of the
individual's descendants of all generations, with the relationship of parent and child at each
generation being determined by the definition of child and parent contained in this section.
new text begin
Subd. 9.
new text end
new text begin
Devise.
new text end
deleted text begin (10)deleted text end "Devise," when used as a noun, means a testamentary
disposition of real or personal property and when used as a verb, means to dispose of
real or personal property by will.
new text begin
Subd. 10.
new text end
new text begin
Devisee.
new text end
deleted text begin (11)deleted text end "Devisee" means any person designated in a will to receive
a devise. In the case of a devise to an existing trust or trustee, or to a trustee on trust
described by will, the trust or trustee is the devisee and the beneficiaries are not devisees.
new text begin
Subd. 11.
new text end
new text begin
Disability.
new text end
deleted text begin (12)deleted text end "Disability" means cause for appointment of a conservator
as described in section 524.5-401, or a protective order as described in section 524.5-412.
new text begin
Subd. 12.
new text end
new text begin
Distributee.
new text end
deleted text begin (13)deleted text end "Distributee" means any person who has received or
who will receive property of a decedent from the decedent's personal representative other
than as a creditor or purchaser. A testamentary trustee is a distributee with respect to
property which the trustee has received from a personal representative only to the extent
of distributed assets or their increment remaining in the trustee's hands. A beneficiary
of a testamentary trust to whom the trustee has distributed property received from a
personal representative is a distributee of the personal representative. For purposes of this
provision, "testamentary trustee" includes a trustee to whom assets are transferred by
will, to the extent of the devised assets.
new text begin
Subd. 13.
new text end
new text begin
Estate.
new text end
deleted text begin (14)deleted text end "Estate" includes all of the property of the decedent, trust, or
other person whose affairs are subject to this chapter as originally constituted and as it
exists from time to time during administration.
new text begin
Subd. 14.
new text end
new text begin
Fiduciary.
new text end
deleted text begin (16)deleted text end "Fiduciary" includes personal representative, guardian,
conservator and trustee.
new text begin
Subd. 15.
new text end
new text begin
Foreign personal representative.
new text end
deleted text begin (17)deleted text end "Foreign personal representative"
means a personal representative of another jurisdiction.
new text begin
Subd. 16.
new text end
new text begin
Formal proceedings.
new text end
deleted text begin (18)deleted text end "Formal proceedings" means those conducted
before a judge with notice to interested persons.
new text begin
Subd. 17.
new text end
new text begin
Guardian.
new text end
deleted text begin (20)deleted text end "Guardian" means a person who has qualified as a
guardian of a minor or incapacitated person pursuant to testamentary or court appointment,
but excludes one who is merely a guardian ad litem.
new text begin
Subd. 18.
new text end
new text begin
Heirs.
new text end
deleted text begin (21)deleted text end "Heirs" means those persons, including the surviving spouse,
who are entitled under the statutes of intestate succession to the property of a decedent.
new text begin
Subd. 19.
new text end
new text begin
Incapacitated person.
new text end
deleted text begin (22)deleted text end "Incapacitated person" is as described in
section 524.5-102, subdivision 6, other than a minor.
new text begin
Subd. 20.
new text end
new text begin
Informal proceedings.
new text end
deleted text begin (23)deleted text end "Informal proceedings" means those
conducted by the judge, the registrar, or the person or persons designated by the judge for
probate of a will or appointment of a personal representative in accordance with sections
524.3-301 to 524.3-311.
new text begin
Subd. 21.
new text end
new text begin
Interested person.
new text end
deleted text begin (24)deleted text end "Interested person" includes heirs, devisees,
children, spouses, creditors, beneficiaries and any others having a property right in or
claim against the estate of a decedent, ward or protected person which may be affected
by the proceeding. It also includes persons having priority for appointment as personal
representative, and other fiduciaries representing interested persons. The meaning as it
relates to particular persons may vary from time to time and must be determined according
to the particular purposes of, and matter involved in, any proceeding.
new text begin
Subd. 22.
new text end
new text begin
Lease.
new text end
deleted text begin (27)deleted text end "Lease" includes an oil, gas, or other mineral lease.
new text begin
Subd. 23.
new text end
new text begin
Letters.
new text end
deleted text begin (28)deleted text end "Letters" includes letters testamentary, letters of
guardianship, letters of administration, and letters of conservatorship.
new text begin
Subd. 24.
new text end
new text begin
Mortgage.
new text end
deleted text begin (30)deleted text end "Mortgage" means any conveyance, agreement or
arrangement in which property is used as security.
new text begin
Subd. 25.
new text end
new text begin
Nonresident decedent.
new text end
deleted text begin (31)deleted text end "Nonresident decedent" means a decedent
who was domiciled in another jurisdiction at the time of death.
new text begin
Subd. 26.
new text end
new text begin
Organization.
new text end
deleted text begin (32)deleted text end "Organization" includes a corporation, government or
governmental subdivision or agency, business trust, estate, trust, partnership or association,
two or more persons having a joint or common interest, or any other legal entity.
new text begin
Subd. 27.
new text end
new text begin
Person.
new text end
deleted text begin (35)deleted text end "Person" means an individual, a corporation, an
organization, or other legal entity.
new text begin
Subd. 28.
new text end
new text begin
Personal representative.
new text end
deleted text begin (36)deleted text end "Personal representative" includes
executor, administrator, successor personal representative, special administrator, and
persons who perform substantially the same function under the law governing their status.
"General personal representative" excludes special administrator.
new text begin
Subd. 29.
new text end
new text begin
Petition.
new text end
deleted text begin (37)deleted text end "Petition" means a written request to the court for an
order after notice.
new text begin
Subd. 30.
new text end
new text begin
Proceeding.
new text end
deleted text begin (38)deleted text end "Proceeding" includes action at law and suit in equity.
new text begin
Subd. 31.
new text end
new text begin
Property.
new text end
deleted text begin (39)deleted text end "Property" includes both real and personal property or any
interest therein and means anything that may be the subject of ownership.
new text begin
Subd. 32.
new text end
new text begin
Protected person.
new text end
deleted text begin (40)deleted text end "Protected person" is as described in section
524.5-102, subdivision 14.
new text begin
Subd. 33.
new text end
new text begin
Record.
new text end
new text begin
"Record" means information that is inscribed on a tangible
medium or that is stored in an electronic or other medium and is retrievable in perceivable
form.
new text end
new text begin
Subd. 34.
new text end
new text begin
Registrar.
new text end
deleted text begin (42)deleted text end "Registrar" refers to the judge of the court or the person
designated by the court to perform the functions of registrar as provided in section
524.1-307.
new text begin
Subd. 35.
new text end
new text begin
Security.
new text end
deleted text begin (43)deleted text end "Security" includes any note, stock, treasury stock, bond,
debenture, evidence of indebtedness, certificate of interest or participation in an oil, gas or
mining title or lease or in payments out of production under such a title or lease, collateral
trust certificate, transferable share, voting trust certificate or, in general, any interest or
instrument commonly known as a security, or any certificate of interest or participation,
any temporary or interim certificate, receipt or certificate of deposit for, or any warrant
or right to subscribe to or purchase, any of the foregoing.
new text begin
Subd. 36.
new text end
new text begin
Settlement.
new text end
deleted text begin (44)deleted text end "Settlement," in reference to a decedent's estate,
includes the full process of administration, distributionnew text begin ,new text end and closing.
new text begin
Subd. 37.
new text end
new text begin
Sign.
new text end
new text begin
"Sign" means, with present intent to authenticate or adopt a record
other than a will:
new text end
new text begin
(1) to execute or adopt a tangible symbol; or
new text end
new text begin
(2) to attach to or logically associate with the record an electronic symbol, sound,
or process.
new text end
new text begin
Subd. 38.
new text end
new text begin
Special administrator.
new text end
deleted text begin (45)deleted text end "Special administrator" means a personal
representative as described by sections 524.3-614 to 524.3-618.
new text begin
Subd. 39.
new text end
new text begin
State.
new text end
deleted text begin (46)deleted text end "State" includes any state of the United States, the District of
Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to
the legislative authority of the United States.
new text begin
Subd. 40.
new text end
new text begin
Successor personal representative.
new text end
deleted text begin (47)deleted text end "Successor personal
representative" means a personal representative, other than a special administrator, who is
appointed to succeed a previously appointed personal representative.
new text begin
Subd. 41.
new text end
new text begin
Successors.
new text end
deleted text begin (48)deleted text end "Successors" means those persons, other than creditors,
who are entitled to property of a decedent under the decedent's will, this chapter or chapter
525. "Successors" also means a funeral director or county government that provides the
funeral and burial of the decedent, or a state or county agency with a claim authorized
under section 256B.15.
new text begin
Subd. 42.
new text end
new text begin
Supervised administration.
new text end
deleted text begin (49)deleted text end "Supervised administration" refers to
the proceedings described in sections 524.3-501 to 524.3-505.
new text begin
Subd. 43.
new text end
new text begin
Testacy proceeding.
new text end
deleted text begin (51)deleted text end "Testacy proceeding" means a proceeding
to establish a will or determine intestacy.
new text begin
Subd. 44.
new text end
new text begin
Trust.
new text end
deleted text begin (53)deleted text end "Trust" includes any express trust, private or charitable,
with additions thereto, wherever and however created. It also includes a trust created or
determined by judgment or decree under which the trust is to be administered in the
manner of an express trust. "Trust" excludes other constructive trusts, and it excludes
resulting trusts, conservatorships, personal representatives, trust accounts as defined in
chapter 528, custodial arrangements pursuant to sections 149A.97, 318.01 to 318.06,
527.21 to 527.44, business trusts providing for certificates to be issued to beneficiaries,
common trust funds, voting trusts, security arrangements, liquidation trusts, and trusts
for the primary purpose of paying debts, dividends, interest, salaries, wages, profits,
pensions, or employee benefits of any kind, and any arrangement under which a person is
nominee or escrowee for another.
new text begin
Subd. 45.
new text end
new text begin
Trustee.
new text end
deleted text begin (54)deleted text end "Trustee" includes an original, additional, or successor
trustee, whether or not appointed or confirmed by court.
new text begin
Subd. 46.
new text end
new text begin
Ward.
new text end
deleted text begin (55)deleted text end "Ward" deleted text begin is as describeddeleted text end new text begin has the meaning givennew text end in section
524.5-102, subdivision 17.
new text begin
Subd. 47.
new text end
new text begin
Will.
new text end
deleted text begin (56)deleted text end "Will" includes codicil and any testamentary instrument which
merely appoints an executor or revokes or revises another will.
Sec. 3.
Minnesota Statutes 2008, section 524.2-102, is amended to read:
524.2-102 SHARE OF THE SPOUSE.
The intestate share of a decedent's surviving spouse is:
(1) the entire intestate estate if:
(i) no descendant of the decedent survives the decedent; or
(ii) all of the decedent's surviving descendants are also descendants of the surviving
spouse and there is no other descendant of the surviving spouse who survives the decedent;
(2)new text begin the first $300,000, plus three-fourths of any balance of the intestate estate, if no
descendant of the decedent survives the decedent, but a parent of the decedent survives
the decedent;
new text end
new text begin (3)new text end the first deleted text begin $150,000deleted text end new text begin $225,000new text end , plus one-half of any balance of the intestate estate,
if all of the decedent's surviving descendants are also descendants of the surviving spouse
and the surviving spouse has one or more surviving descendants who are not descendants
of the decedentdeleted text begin ,deleted text end new text begin ;new text end or
new text begin (4) the first $150,000, plus one-half of any balance of the intestate estate,new text end if one or
more of the decedent's surviving descendants are not descendants of the surviving spouse.
Sec. 4.
Minnesota Statutes 2008, section 524.2-103, is amended to read:
524.2-103 SHARE OF HEIRS OTHER THAN SURVIVING SPOUSE.
new text begin (a) new text end Any part of the intestate estate not passing to deleted text begin thedeleted text end new text begin anew text end decedent's surviving spouse
under section 524.2-102, or the entire intestate estate if there is no surviving spouse, passes
in the following order to the individuals deleted text begin designated belowdeleted text end who survive the decedent:
(1) to the decedent's descendants by representation;
(2) if there is no surviving descendant, to the decedent's parents equally if both
survive, or to the surviving parentnew text begin if only one survivesnew text end ;
(3) if there is no surviving descendant or parent, to the descendants of the decedent's
parents or either of them by representation;
(4) if there is no surviving descendant, parent, or descendant of a parent, but the
decedent is survivednew text begin on both the paternal and maternal sidesnew text end by one or more grandparents
or descendants of grandparentsdeleted text begin ,deleted text end new text begin :
new text end
new text begin (i)new text end half deleted text begin of the estate passesdeleted text end to the decedent's paternal grandparents equally if
both survive, deleted text begin ordeleted text end to the surviving paternal grandparentnew text begin if only one survivesnew text end , or to the
descendants of the decedent's paternal grandparents or either of them if both are deceased,
the descendants taking by representation; and deleted text begin the other
deleted text end
new text begin (ii)new text end half deleted text begin passesdeleted text end to the decedent's maternal deleted text begin relatives in the same manner; but if
there is no surviving grandparent or descendant of a grandparent on either the paternal
or the maternal side, the entire estate passesdeleted text end new text begin grandparents equally if both survive, to
the surviving maternal grandparent if only one survives, or to the descendants of the
decedent's maternal grandparents or either of them if both are deceased, the descendants
taking by representation;
new text end
new text begin (5) if there is no surviving descendant, parent, or descendant of a parent, but the
decedent is survived by one or more grandparents or descendants of grandparents on the
paternal but not the maternal side, or on the maternal but not the paternal side,new text end to the
decedent's relatives on the deleted text begin otherdeleted text end sidenew text begin with one or more surviving membersnew text end in the deleted text begin samedeleted text end
manner deleted text begin as the half;deleted text end new text begin described in clause (4).
new text end
deleted text begin (5)deleted text end new text begin (b)new text end If there is no deleted text begin surviving descendant, parent, descendant of a parent,
grandparent, or descendant of a grandparent, to the next of kin in equal degree, except that
when there are two or more collateral kindred in equal degree claiming through different
ancestors, those who claim through the nearest ancestor shall take to the exclusion of those
claiming through an ancestor more remote.deleted text end new text begin taker under paragraph (a), but the decedent has:
new text end
new text begin
(i) one deceased spouse who has one or more descendants who survive the decedent,
the estate or part of the estate passes to that spouse's descendants by representation; or
new text end
new text begin
(ii) more than one deceased spouse who has one or more descendants who survive
the decedent, an equal share of the estate or part of the estate passes to each set of
descendants by representation.
new text end
Sec. 5.
Minnesota Statutes 2008, section 524.2-104, is amended to read:
524.2-104 REQUIREMENT deleted text begin THAT HEIR SURVIVE DECEDENT FORdeleted text end new text begin OF
SURVIVAL BYnew text end 120 HOURSnew text begin ; INDIVIDUAL IN GESTATIONnew text end .
new text begin
(a) For purposes of intestate succession, homestead allowance, and exempt property,
and except as otherwise provided in paragraph (b):
new text end
new text begin (1) new text end an individualnew text begin born before a decedent's deathnew text end who fails to survive the decedent by
120 hours is deemed to have predeceased the decedent deleted text begin for purposes of homestead, exempt
property, and intestate succession, and the decedent's heirs are determined accordinglydeleted text end . If
it is not established that an individual deleted text begin who would otherwise be an heirdeleted text end new text begin born before the
decedent's deathnew text end survived the decedent by 120 hours, it is deemed that the individual failed
to survive for the required period. deleted text begin This section is not to be applied if its application would
result in a taking of intestate estate by the state under section 524.2-105.deleted text end new text begin ; and
new text end
new text begin
(2) an individual in gestation at a decedent's death is deemed to be living at the
decedent's death if the individual lives 120 hours after birth. If it is not established by clear
and convincing evidence that an individual in gestation at the decedent's death lived 120
hours after birth, it is deemed that the individual failed to survive for the required period.
new text end
new text begin
(b) This section does not apply if its application would cause the estate to pass to
the state under section 524.2-105.
new text end
Sec. 6.
Minnesota Statutes 2008, section 524.2-114, is amended to read:
524.2-114 deleted text begin MEANING OF CHILD AND RELATED TERMSdeleted text end new text begin PARENT
BARRED FROM INHERITING IN CERTAIN CIRCUMSTANCESnew text end .
deleted text begin
If, for purposes of intestate succession, a relationship of parent and child must be
established to determine succession by, through, or from a person:
deleted text end
deleted text begin
(1) An adopted child is the child of an adopting parent and not of the birth parents
except that adoption of a child by the spouse of a birth parent has no effect on the
relationship between the child and that birth parent. If a parent dies and a child is
subsequently adopted by a stepparent who is the spouse of a surviving parent, any rights
of inheritance of the child or the child's descendant from or through the deceased parent
of the child which exist at the time of the death of that parent shall not be affected by
the adoption.
deleted text end
deleted text begin
(2) In cases not covered by clause (1), a person is the child of the person's parents
regardless of the marital status of the parents and the parent and child relationship may be
established under the Parentage Act, sections 257.51 to 257.74.
deleted text end
new text begin
(a) A parent is barred from inheriting from or through a child of the parent if:
new text end
new text begin
(1) the parent's parental rights were terminated and the parent-child relationship
was not judicially reestablished; or
new text end
new text begin
(2) the child died before reaching 18 years of age and there is clear and convincing
evidence that immediately before the child's death the parental rights of the parent
could have been terminated under other law of this state on the basis of nonsupport,
abandonment, abuse, neglect, or other actions or inactions of the parent toward the child.
new text end
new text begin
(b) For purposes of intestate succession from or through the deceased child, a parent
who is barred from inheriting under this section is treated as if the parent predeceased
the child.
new text end
Sec. 7.
Minnesota Statutes 2008, section 524.2-115, is amended to read:
524.2-115 deleted text begin INSTRUMENTS REFERENCING INTESTACY LAWSdeleted text end new text begin
DEFINITIONSnew text end .
deleted text begin
If a maker has executed a will or other instrument before January 1, 1996, which
directs disposition of all or part of the estate pursuant to the intestacy laws of the state
of Minnesota, the laws to be applied shall be in accordance with the laws of intestate
succession in effect on the date of the will or other instrument, unless the will or
instrument directs otherwise.
deleted text end
new text begin
In sections 524.2-115 to 524.2-122:
new text end
new text begin
(1) "adoptee" means an individual who is adopted;
new text end
new text begin
(2) "assisted reproduction" means a method of causing pregnancy other than sexual
intercourse;
new text end
new text begin
(3) "divorce" includes an annulment, dissolution, and declaration of invalidity of a
marriage;
new text end
new text begin
(4) "functioned as a parent of the child" means behaving toward a child in a manner
consistent with being the child's parent and performing functions that are customarily
performed by a parent, including fulfilling parental responsibilities toward the child,
recognizing or holding out the child as the individual's child, materially participating in
the child's upbringing, and residing with the child in the same household as a regular
member of that household;
new text end
new text begin
(5) "genetic father" means the man whose sperm fertilized the egg of a child's
genetic mother. If the father-child relationship is established under the presumption of
paternity under section 257.55, the term means only the man for whom that relationship
is established;
new text end
new text begin
(6) "genetic mother" means the woman whose egg was fertilized by the sperm of
the child's genetic father;
new text end
new text begin
(7) "genetic parent" means a child's genetic father or genetic mother;
new text end
new text begin
(8) "incapacity" means the inability of an individual to function as a parent of a child
because of the individual's physical or mental condition; and
new text end
new text begin
(9) "relative" means a grandparent or a descendant of a grandparent.
new text end
Sec. 8.
new text begin
[524.2-116] EFFECT OF PARENT-CHILD RELATIONSHIP.
new text end
new text begin
Except as otherwise provided in section 524.2-119, paragraphs (b) to (e), if a
parent-child relationship exists or is established under sections 524.2-114 to 524.2-122,
the parent is a parent of the child and the child is a child of the parent for the purpose of
intestate succession.
new text end
Sec. 9.
new text begin
[524.2-117] NO DISTINCTION BASED ON MARITAL STATUS.
new text end
new text begin
Except as otherwise provided in section 524.2-114, 524.2-119, 524.2-120, or
524.2-121, a parent-child relationship exists between a child and the child's genetic
parents, regardless of their marital status.
new text end
Sec. 10.
new text begin
[524.2-118] ADOPTEE AND ADOPTEE'S ADOPTIVE PARENT OR
PARENTS.
new text end
new text begin
(a) A parent-child relationship exists between an adoptee and the adoptee's adoptive
parent or parents.
new text end
new text begin
(b) For purposes of paragraph (a):
new text end
new text begin
(1) an individual who is in the process of being adopted by a married couple when
one of the spouses dies is treated as adopted by the deceased spouse if the adoption is
subsequently granted to the decedent's surviving spouse; and
new text end
new text begin
(2) a child of a genetic parent who is in the process of being adopted by a genetic
parent's spouse when the spouse dies is treated as adopted by the deceased spouse if the
genetic parent survives the deceased spouse by 120 hours.
new text end
new text begin
(c) If, after a parent-child relationship is established between a child of assisted
reproduction and a parent under section 524.2-120 or between a gestational child and a
parent under section 524.2-121, the child is in the process of being adopted by the parent's
spouse when that spouse dies, the child is treated as adopted by the deceased spouse
for purposes of paragraph (b), clause (2).
new text end
Sec. 11.
new text begin
[524.2-119] ADOPTEE AND ADOPTEE'S GENETIC PARENTS.
new text end
new text begin
(a) Except as otherwise provided in paragraphs (b) to (e), a parent-child relationship
does not exist between an adoptee and the adoptee's genetic parents.
new text end
new text begin
(b) A parent-child relationship exists between an individual who is adopted by the
spouse of either genetic parent and:
new text end
new text begin
(1) the genetic parent whose spouse adopted the individual; and
new text end
new text begin
(2) the other genetic parent, but only for the purpose of the right of the adoptee or a
descendant of the adoptee to inherit from or through the other genetic parent.
new text end
new text begin
(c) A parent-child relationship exists between both genetic parents and an individual
who is adopted by a relative of a genetic parent, or by the spouse or surviving spouse of
a relative of a genetic parent, but only for the purpose of the right of the adoptee or a
descendant of the adoptee to inherit from or through either genetic parent.
new text end
new text begin
(d) A parent-child relationship exists between both genetic parents and an individual
who is adopted after the death of both genetic parents, but only for the purpose of the right
of the adoptee or a descendant of the adoptee to inherit through either genetic parent.
new text end
new text begin
(e) If, after a parent-child relationship is established between a child of assisted
reproduction and a parent or parents under section 524.2-120 or between a gestational
child and a parent or parents under section 524.2-121, the child is adopted by another or
others, the child's parent or parents under section 524.2-120 or 524.2-121 are treated as the
child's genetic parent or parents for the purpose of this section.
new text end
Sec. 12.
new text begin
[524.2-120] CHILD CONCEIVED BY ASSISTED REPRODUCTION
OTHER THAN A CHILD BORN TO A GESTATIONAL CARRIER.
new text end
new text begin
(a) In this section:
new text end
new text begin
(1) "birth mother" means a woman, other than a gestational carrier under section
524.2-121, who gives birth to a child of assisted reproduction. The term is not limited to a
woman who is the child's genetic mother;
new text end
new text begin
(2) "child of assisted reproduction" means a child conceived by means of assisted
reproduction by a woman other than a gestational carrier under section 524.2-121; and
new text end
new text begin
(3) "third-party donor" means an individual who produces eggs or sperm used for
assisted reproduction, whether or not for consideration. The term does not include:
new text end
new text begin
(i) a husband who provides sperm, or a wife who provides eggs, that are used for
assisted reproduction by the wife;
new text end
new text begin
(ii) the birth mother of a child of assisted reproduction; or
new text end
new text begin
(iii) an individual who has been determined under paragraph (e) or (f) to have a
parent-child relationship with a child of assisted reproduction.
new text end
new text begin
(b) A parent-child relationship does not exist between a child of assisted reproduction
and a third-party donor.
new text end
new text begin
(c) A parent-child relationship exists between a child of assisted reproduction and
the child' birth mother.
new text end
new text begin
(d) Except as otherwise provided in paragraphs (i) and (j), a parent-child relationship
exists between a child of assisted reproduction and the husband of the child's birth
mother if the husband provided the sperm that the birth mother used during his lifetime
for assisted reproduction.
new text end
new text begin
(e) A birth certificate identifying an individual other than the birth mother as the
other parent of a child of assisted reproduction presumptively establishes a parent-child
relationship between the child and that individual.
new text end
new text begin
(f) Except as otherwise provided in paragraphs (g), (i), and (j), and unless a
parent-child relationship is established under paragraph (d) or (e), a parent-child
relationship exists between a child of assisted reproduction and an individual other than
the birth mother who consented to assisted reproduction by the birth mother with intent
to be treated as the other parent of the child. Consent to assisted reproduction by the
birth mother with intent to be treated as the other parent of the child is established if
the individual:
new text end
new text begin
(1) before or after the child's birth, signed a record that, considering all the facts and
circumstances, evidences the individual's consent; or
new text end
new text begin
(2) in the absence of a signed record under clause (1):
new text end
new text begin
(i) functioned as a parent of the child no later than two years after the child's birth;
new text end
new text begin
(ii) intended to function as a parent of the child no later than two years after the
child's birth, but was prevented from carrying out that intent by death, incapacity, or
other circumstances; or
new text end
new text begin
(iii) intended to be treated as a parent of a posthumously conceived child if that
intent is established by clear and convincing evidence.
new text end
new text begin
(g) For the purpose of paragraph (f), clause (1), neither an individual who signed a
record more than two years after the birth of the child, nor a relative of that individual
who is not also a relative of the birth mother, inherits from or through the child unless the
individual functioned as a parent of the child before the child reached 18 years of age.
new text end
new text begin
(h) For the purpose of paragraph (f), clause (2):
new text end
new text begin
(1) if the birth mother is married and no divorce proceeding is pending, in the
absence of clear and convincing evidence to the contrary, her spouse satisfies paragraph
(f), clause (2), item (i) or (ii); and
new text end
new text begin
(2) if the birth mother is a surviving spouse and at her deceased spouse's death no
divorce proceeding was pending, in the absence of clear and convincing evidence to the
contrary, her deceased spouse satisfies paragraph (f), clause (2), item (ii) or (iii).
new text end
new text begin
(i) If a married couple is divorced before placement of eggs, sperm, or embryos, a
child resulting from the assisted reproduction is not a child of the birth mother's former
spouse, unless the former spouse consented in a record that if assisted reproduction were
to occur after divorce, the child would be treated as the former spouse's child.
new text end
new text begin
(j) If, in a record, an individual withdraws consent to assisted reproduction before
placement of eggs, sperm, or embryos, a child resulting from the assisted reproduction is
not a child of that individual, unless the individual subsequently satisfies paragraph (f).
new text end
new text begin
(k) If, under this section, an individual is a parent of a child of assisted reproduction
who is conceived after the individual's death, the child is treated as in gestation at the
individual's death for purposes of section 524.2-104, paragraph (a), clause (2), if the
child is:
new text end
new text begin
(1) in utero not later than 36 months after the individual's death; or
new text end
new text begin
(2) born not later than 45 months after the individual's death.
new text end
Sec. 13.
new text begin
[524.2-121] CHILD BORN TO A GESTATIONAL CARRIER.
new text end
new text begin
(a) In this section:
new text end
new text begin
(1) "gestational agreement" means an enforceable or unenforceable agreement for
assisted reproduction in which a woman agrees to carry a child to birth for an intended
parent, intended parents, or an individual described in paragraph (e);
new text end
new text begin
(2) "gestational carrier" means a woman who is not an intended parent who gives
birth to a child under a gestational agreement. The term is not limited to a woman who is
the child's genetic mother;
new text end
new text begin
(3) "gestational child" means a child born to a gestational carrier under a gestational
agreement; and
new text end
new text begin
(4) "intended parent" means an individual who entered into a gestational agreement
providing that the individual will be the parent of a child born to a gestational carrier by
means of assisted reproduction. The term is not limited to an individual who has a genetic
relationship with the child.
new text end
new text begin
(b) A parent-child relationship is conclusively established by a court order
designating the parent or parents of a gestational child.
new text end
new text begin
(c) A parent-child relationship between a gestational child and the child's gestational
carrier does not exist unless the gestational carrier is:
new text end
new text begin
(1) designated as a parent of the child in a court order described in paragraph (b); or
new text end
new text begin
(2) the child's genetic mother and a parent-child relationship does not exist under
this section with an individual other than the gestational carrier.
new text end
new text begin
(d) In the absence of a court order under paragraph (b), a parent-child relationship
exists between a gestational child and an intended parent who:
new text end
new text begin
(1) functioned as a parent of the child no later than two years after the child's birth; or
new text end
new text begin
(2) died while the gestational carrier was pregnant if:
new text end
new text begin
(i) there were two intended parents and the other intended parent functioned as a
parent of the child no later than two years after the child's birth;
new text end
new text begin
(ii) there were two intended parents, the other intended parent also died while the
gestational carrier was pregnant, and a relative of either deceased intended parent or the
spouse or surviving spouse of a relative of either deceased intended parent functioned as a
parent of the child no later than two years after the child's birth; or
new text end
new text begin
(iii) there was no other intended parent and a relative of or the spouse or surviving
spouse of a relative of the deceased intended parent functioned as a parent of the child no
later than two years after the child's birth.
new text end
new text begin
(e) In the absence of a court order under paragraph (b), a parent-child relationship
exists between a gestational child and an individual whose sperm or eggs were used after
the individual's death or incapacity to conceive a child under a gestational agreement
entered into after the individual's death or incapacity if the individual intended to be
treated as the parent of the child. The individual's intent may be shown by:
new text end
new text begin
(1) a record signed by the individual that, considering all the facts and circumstances,
evidences the individual's intent; or
new text end
new text begin
(2) other facts and circumstances establishing the individual's intent by clear and
convincing evidence.
new text end
new text begin
(f) Except as otherwise provided in paragraph (g), and unless there is clear and
convincing evidence of a contrary intent, an individual is deemed to have intended to be
treated as the parent of a gestational child for purposes of paragraph (e), clause (2), if:
new text end
new text begin
(1) the individual, before death or incapacity, deposited the sperm or eggs that
were used to conceive the child;
new text end
new text begin
(2) when the individual deposited the sperm or eggs, the individual was married and
no divorce proceeding was pending; and
new text end
new text begin
(3) the individual's spouse or surviving spouse functioned as a parent of the child not
later than two years after the child's birth.
new text end
new text begin
(g) The presumption under paragraph (f) does not apply if there is:
new text end
new text begin
(1) a court order under paragraph (b); or
new text end
new text begin
(2) a signed record that satisfies paragraph (e), clause (1).
new text end
new text begin
(h) If, under this section, an individual is a parent of a gestational child who is
conceived after the individual's death, the child is treated as in gestation at the individual's
death for purposes of section 524.2-104, paragraph (a), clause (2), if the child is:
new text end
new text begin
(1) in utero not later than 36 months after the individual's death; or
new text end
new text begin
(2) born not later than 45 months after the individual's death.
new text end
new text begin
(i) This section does not affect any law of this state other than this chapter regarding
the enforceability or validity of a gestational agreement.
new text end
Sec. 14.
new text begin
[524.2-122] EQUITABLE ADOPTION.
new text end
new text begin
Sections 524.2-114 to 524.2-122 do not affect the doctrine of equitable adoption.
new text end
Sec. 15.
Minnesota Statutes 2008, section 524.2-202, is amended to read:
524.2-202 ELECTIVE SHARE.
(a) Elective share amount. The surviving spouse of a decedent who dies domiciled
in this state has a right of election, under the limitations and conditions stated in this part,
to take an elective-share amount equal to the value of the elective-share percentage of the
augmented estate, determined by the length of time the spouse and the decedent were
married to each other, in accordance with the following schedule:
If the decedent and the spouse were
married to each other:
The elective-share percentage is:
Less than one year
Supplemental amount only
One year but less than two years
Three percent of the augmented estate
Two years but less than three years
Six percent of the augmented estate
Three years but less than four years
Nine percent of the augmented estate
Four years but less than five years
12 percent of the augmented estate
Five years but less than six years
15 percent of the augmented estate
Six years but less than seven years
18 percent of the augmented estate
Seven years but less than eight years
21 percent of the augmented estate
Eight years but less than nine years
24 percent of the augmented estate
Nine years but less than ten years
27 percent of the augmented estate
Ten years but less than 11 years
30 percent of the augmented estate
11 years but less than 12 years
34 percent of the augmented estate
12 years but less than 13 years
38 percent of the augmented estate
13 years but less than 14 years
42 percent of the augmented estate
14 years but less than 15 years
46 percent of the augmented estate
15 years or more
50 percent of the augmented estate
(b) Supplemental elective-share amount. If the sum of the amounts described in
sections 524.2-207, 524.2-209, paragraph (a), clause (1), and that part of the elective-share
amount payable from the decedent's probate estate and nonprobate transfers to others
under section 524.2-209, paragraphs (b) and (c), is less than deleted text begin $50,000deleted text end new text begin $75,000new text end , the
surviving spouse is entitled to a supplemental elective-share amount equal to deleted text begin $50,000deleted text end new text begin
$75,000new text end , minus the sum of the amounts described in those sections. The supplemental
elective-share amount is payable from the decedent's probate estate and from recipients of
the decedent's nonprobate transfers to others in the order of priority set forth in section
524.2-209, paragraphs (b) and (c).
(c) Effect of election on statutory benefits. If the right of election is exercised by
or on behalf of the surviving spouse, the surviving spouse's homestead rights and other
allowances under sections 524.2-402, 524.2-403 and 524.2-404, if any, are not charged
against but are in addition to the elective-share and supplemental elective-share amounts.
(d) Nondomiciliary. The right, if any, of the surviving spouse of a decedent who
dies domiciled outside this state to take an elective share in property in this state is
governed by the law of the decedent's domicile at death.
Sec. 16.
Minnesota Statutes 2008, section 524.2-403, is amended to read:
524.2-403 EXEMPT PROPERTY.
(a) If there is a surviving spouse, then, in addition to the homestead and family
allowance, the surviving spouse is entitled from the estate to:
(1) property not exceeding deleted text begin $10,000deleted text end new text begin $15,000new text end in value in excess of any security
interests therein, in household furniture, furnishings, appliances, and personal effects,
subject to an award of sentimental value property under section 525.152; and
(2) one automobile, if any, without regard to value.
(b) If there is no surviving spouse, the decedent's children are entitled jointly to
the same property as provided in paragraph (a), except that where it appears from the
decedent's will a child was omitted intentionally, the child is not entitled to the rights
conferred by this section.
(c) If encumbered chattels are selected and the value in excess of security interests,
plus that of other exempt property, is less than deleted text begin $10,000deleted text end new text begin $15,000new text end , or if there is not deleted text begin $10,000deleted text end new text begin
$15,000new text end worth of exempt property in the estate, the surviving spouse or children are
entitled to other personal property of the estate, if any, to the extent necessary to make up
the deleted text begin $10,000deleted text end new text begin $15,000new text end value.
(d) Rights to exempt property and assets needed to make up a deficiency of exempt
property have priority over all claims against the estate, but the right to any assets to
make up a deficiency of exempt property abates as necessary to permit earlier payment
of the family allowance.
(e) The rights granted by this section are in addition to any benefit or share passing
to the surviving spouse or children by the decedent's will, unless otherwise provided, by
intestate succession or by way of elective share.
(f) No rights granted to a decedent's adult children under this section shall have
precedence over a claim under section 246.53, 256B.15, 256D.16, 261.04, or 524.3-805,
paragraph (a), clause (1), (2), or (3).
Sec. 17.
Minnesota Statutes 2008, section 524.2-502, is amended to read:
524.2-502 EXECUTION; WITNESSEDnew text begin OR NOTARIZEDnew text end WILLSnew text begin ;
HOLOGRAPHIC WILLSnew text end .
new text begin (a) new text end Except asnew text begin otherwisenew text end provided in sectionsnew text begin 524.2-503,new text end 524.2-506new text begin ,new text end and 524.2-513, a
will must be:
(1) in writing;
(2) signed by the testator or in the testator's name by some other individual in the
testator's conscious presence and by the testator's direction deleted text begin or signed by the testator's
conservator pursuant to a court order under section 524.5-411deleted text end ; and
(3) new text begin either:
new text end
new text begin (i) new text end signed by at least two individuals, each of whom signed within a reasonable
time after deleted text begin witnessingdeleted text end new text begin the individual witnessednew text end either the signing of the will as described
in clause (2) or the testator's acknowledgment of that signature or acknowledgment of
the willnew text begin ; or
new text end
new text begin (ii) acknowledged by the testator before a notary public or other individual
authorized by law to take acknowledgmentsnew text end .
new text begin
(b) A will that does not comply with paragraph (a) is valid as a holographic will,
whether or not witnessed, if the signature and material portions of the document are in
the testator's handwriting.
new text end
new text begin
(c) Intent that a document constitute the testator's will can be established by extrinsic
evidence, including, for holographic wills, portions of the document that are not in the
testator's handwriting.
new text end
Sec. 18.
Minnesota Statutes 2008, section 524.2-504, is amended to read:
524.2-504 SELF-PROVED WILL.
(a) A willnew text begin that is executed with attesting witnessesnew text end may be deleted text begin contemporaneouslydeleted text end new text begin
simultaneouslynew text end executed, attested, and made self-proved, by acknowledgment thereof by
the testator and affidavits of the witnesses, each made before an officer authorized to
administer oaths under the laws of the state in which execution occurs and evidenced by
the officer's certificate, under official seal, in substantially the following form:
I, ................., the testator, sign my name to this instrument this ........ day of .................,
new text begin
name
new text end
and being first duly sworn, do hereby declare to the undersigned authority that I sign and
execute this instrument as my will and that I sign it willingly (or willingly direct another
to sign for me), that I execute it as my free and voluntary act for the purposes therein
expressed, and that I am 18 years of age or older, of sound mind, and under no constraint
or undue influence.
.
Testator
We, ................., ................., the witnesses, sign our names to this instrument, being
new text begin
name
new text end
new text begin
name
new text end
first duly sworn, and do hereby declare to the undersigned authority that the testator signs
and executes this instrument as the testator's will and that the testator signs it willingly (or
willingly directs another to sign for the testator), and that each of us, in the presence and
hearing of the testator, hereby signs this will as witness to the testator's signing, and that
to the best of our knowledge the testator is 18 years of age or older, of sound mind, and
under no constraint or undue influence.
.
Witness
.
Witness
State of
.
County of
.
Subscribed, sworn to, and acknowledged before me by ................., the testator, and
subscribed and sworn to before me by ................., and ................., witnesses, this ........
day of ............., ......... .
(Seal)
(Signed)
.
.
(Official capacity of officer)
(b) deleted text begin An attesteddeleted text end new text begin Anew text end willnew text begin that is executed with attesting witnessesnew text end may be made
self-proved at any time after its execution by the acknowledgment thereof by the testator
and the affidavits of the witnesses, each made before an officer authorized to administer
oaths under the laws of the state in which the acknowledgment occurs and evidenced
by the officer's certificate, under the official seal, attached or annexed to the will in
substantially the following form:
State of
.
County of
.
We, ................., ................., and ................., the testator and the witnesses,
new text begin
name
new text end
new text begin
name
new text end
new text begin
name
new text end
respectively, whose names are signed to the attached or foregoing instrument, being first
duly sworn, do hereby declare to the undersigned authority that the testator signed and
executed the instrument as the testator's will and that the testator had signed willingly
(or willingly directed another to sign for the testator), and that the testator executed it as
the testator's free and voluntary act for the purposes therein expressed, and each of the
witnesses, in the presence and hearing of the testator, signed the will as witness and that
to the best of the witness' knowledge the testator was at the time 18 years of age or older,
of sound mind, and under no constraint or undue influence.
.
Testator
.
Witness
.
Witness
Subscribed, sworn to, and acknowledged before me by ................., the testator, and
subscribed and sworn to before me by ................., and ................., witnesses, this ........
day of ..............., ......... .
(Seal)
(Signed)
.
.
(Official capacity of officer)
(c) A signature affixed to a self-proving affidavit attached to a will is considered a
signature affixed to the will, if necessary to prove the will's due execution.
Sec. 19.
Minnesota Statutes 2008, section 524.2-705, is amended to read:
524.2-705 CLASS GIFTS CONSTRUED TO ACCORD WITH INTESTATE
SUCCESSIONnew text begin ; EXCEPTIONSnew text end .
deleted text begin
Adopted individuals and individuals born out of wedlock
deleted text end
new text begin
(a) In this section:
new text end
new text begin
(1) "adoptee" has the meaning given in section 524.2-115;
new text end
new text begin
(2) "child of assisted reproduction" has the meaning given in section 524.2-120;
new text end
new text begin
(3) "distribution date" means the time when an immediate or a postponed class gift
is to take effect in possession or enjoyment;
new text end
new text begin
(4) "functioned as a parent of the adoptee" has the meaning given in section
524.2-115, substituting "adoptee" for "child" in that definition;
new text end
new text begin
(5) "functioned as a parent of the child" has the meaning given in section 524.2-115;
new text end
new text begin
(6) "genetic parent" has the meaning given in section 524.2-115; and
new text end
new text begin
(7) "gestational child" has the meaning given in section 524.2-121;
new text end
new text begin
(8) "relative" has the meaning given in section 524.2-115.
new text end
new text begin (b) A class gift that uses a term of relationship to identify the class members includes
a child of assisted reproduction, a gestational child, and, except as otherwise provided in
paragraphs (e) and (f), an adoptee and a child born to parents who are not married to each
othernew text end , and their respective descendants if appropriate to the class, deleted text begin are included in class
gifts and other terms of relationshipdeleted text end in accordance with the rules for intestate successionnew text begin
regarding parent-child relationshipsnew text end .
new text begin (c)new text end Terms of relationshipnew text begin in a governing instrumentnew text end that do not differentiate
relationships by blood from those by deleted text begin affinitydeleted text end new text begin marriagenew text end , such as deleted text begin "deleted text end uncles,deleted text begin "deleted text end deleted text begin "deleted text end aunts,deleted text begin "deleted text end deleted text begin "deleted text end nieces,deleted text begin "deleted text end
or deleted text begin "deleted text end nephews,deleted text begin "deleted text end are deleted text begin presumeddeleted text end new text begin construednew text end to exclude relatives by deleted text begin affinity.deleted text end new text begin marriage, unless:
new text end
new text begin
(1) when the governing instrument was executed, the class was then and foreseeably
would be empty; or
new text end
new text begin
(2) the language or circumstances otherwise establish that relatives by marriage were
intended to be included.
new text end
new text begin (d)new text end Terms of relationshipnew text begin in a governing instrumentnew text end that do not differentiate
relationships by the half blood from those by the whole blood, such as deleted text begin "deleted text end brothers,deleted text begin "deleted text end deleted text begin "deleted text end sisters,deleted text begin "deleted text end
deleted text begin "deleted text end nieces,deleted text begin "deleted text end or deleted text begin "deleted text end nephews,deleted text begin "deleted text end are presumed to include both types of relationships.
new text begin
(e) In construing a dispositive provision of a transferor who is not the genetic
parent, a child of a genetic parent is not considered the child of the genetic parent unless
the genetic parent, a relative of the genetic parent, or the spouse or surviving spouse
of a relative of the genetic parent functioned as a parent of the child before the child
reached 18 years of age.
new text end
new text begin
(f) In construing a dispositive provision of a transferor who is not the adoptive
parent, an adoptee is not considered the child of the adoptive parent unless:
new text end
new text begin
(1) the adoption took place before the adoptee reached 18 years of age;
new text end
new text begin
(2) the adoptive parent was the adoptee's stepparent or foster parent; or
new text end
new text begin
(3) the adoptive parent functioned as a parent of the adoptee before the adoptee
reached 18 years of age.
new text end
new text begin
(g) The following rules apply for purposes of the class-closing rules:
new text end
new text begin
(1) a child in utero at a particular time is treated as living at that time if the child
lives 120 hours after birth;
new text end
new text begin
(2) if a child of assisted reproduction or a gestational child is conceived
posthumously and the distribution date is the deceased parent's death, the child is treated
as living on the distribution date if the child lives 120 hours after birth and was in utero
not later than 36 months after the deceased parent's death or born not later than 45 months
after the deceased parent's death; and
new text end
new text begin
(3) an individual who is in the process of being adopted when the class closes is
treated as adopted when the class closes if the adoption is subsequently granted.
new text end
Sec. 20.
new text begin
[524.2-805] REFORMATION TO CORRECT MISTAKES.
new text end
new text begin
The court may reform the terms of a governing instrument, even if unambiguous,
to conform the terms to the transferor's intention if it is proved by clear and convincing
evidence that the transferor's intent and the terms of the governing instrument were
affected by a mistake of fact or law, whether in expression or inducement.
new text end
Sec. 21.
new text begin
[524.2-806] MODIFICATION TO ACHIEVE TRANSFEROR'S TAX
OBJECTIVES.
new text end
new text begin
To achieve the transferor's tax objectives, the court may modify the terms of a
governing instrument in a manner that is not contrary to the transferor's probable intention.
The court may provide that the modification has retroactive effect.
new text end
Sec. 22.
Minnesota Statutes 2008, section 524.3-406, is amended to read:
524.3-406 FORMAL TESTACY PROCEEDINGS; CONTESTED CASESdeleted text begin ;
TESTIMONY OF ATTESTING WITNESSESdeleted text end .
deleted text begin
(a) If evidence concerning execution of an attested will which is not self-proved is
necessary in contested cases, the testimony of at least one of the attesting witnesses, if
within the state competent and able to testify, is required. Due execution of a will may be
proved by other evidence.
deleted text end
deleted text begin
(b) If the will is self-proved, compliance with signature requirements for execution
is conclusively presumed and other requirements of execution are presumed subject to
rebuttal without the testimony of any witness upon filing the will and the acknowledgment
and affidavits annexed or attached thereto, unless there is proof of fraud or forgery
affecting the acknowledgment or affidavit.
deleted text end
new text begin
In a contested case in which the proper execution of a will is at issue, the following
rules apply:
new text end
new text begin
(1) if the will is self-proved pursuant to section 524.2-504, the will complies with
the requirements for execution without the testimony of any attesting witness, upon filing
the will and the acknowledgment and affidavits annexed or attached to it, unless there is
evidence of fraud or forgery affecting the acknowledgment or affidavit;
new text end
new text begin
(2) if the will is notarized pursuant to section 524.2-502, paragraph (a), clause (3),
item (ii), but not self-proved, there is a rebuttable presumption that the will complies with
the requirements for execution upon filing the will; and
new text end
new text begin
(3) if the will is witnessed pursuant to section 524.2-502, paragraph (a), clause (3),
item (i), but not notarized or self-proved, the testimony of at least one of the attesting
witnesses is required to establish proper execution if the witness is within this state,
competent, and able to testify. Proper execution may be established by other evidence,
including an affidavit of an attesting witness. An attestation clause that is signed by the
attesting witnesses raises a rebuttable presumption that the events recited in the clause
occurred.
new text end
Sec. 23.
Minnesota Statutes 2008, section 524.8-101, is amended to read:
524.8-101 PROVISIONS FOR TRANSITION.
Except as provided elsewhere in this chapter, on the effective date of this chapternew text begin or
of an amendment to this chapternew text end :
(1) the chapternew text begin or the amendmentnew text end applies to any wills of decedents dying thereafter;
(2) the chapternew text begin or the amendmentnew text end applies to any proceedings in court then pending
or thereafter commenced regardless of the time of the death of decedent except to the
extent that in the opinion of the court the former procedure should be made applicable
in a particular case in the interest of justice or because of infeasibility of application
of the procedure of this chapter;
(3) every personal representative including a person administering an estate of
a minor or incompetent holding an appointment on that date, continues to hold the
appointment but has only the powers conferred by this chapternew text begin or the amendmentnew text end and is
subject to the duties imposed with respect to any act occurring or done thereafter;
(4) an act done before the effective date in any proceeding and any accrued right
is not impaired by this chapternew text begin or the amendmentnew text end . If a right is acquired, extinguished or
barred upon the expiration of a prescribed period of time which has commenced to run
by the provisions of any statute before the effective date, the provisions shall remain in
force with respect to that right;
(5) any rule of construction or presumption provided in this chapternew text begin or the
amendmentnew text end applies to instruments executed and multiple party accounts opened before the
effective date unless there is a clear indication of a contrary intent.
Sec. 24. new text begin REPEALER.
new text end
new text begin
Minnesota Statutes 2008, section 524.2-108,
new text end
new text begin
is repealed.
new text end
ARTICLE 2
UNIFORM ESTATE TAX APPORTIONMENT ACT
Section 1.
Minnesota Statutes 2008, section 524.3-916, is amended to read:
524.3-916 APPORTIONMENT OF ESTATE TAXES AND
GENERATION-SKIPPING TAX.
new text begin
Subdivision 1.
new text end
new text begin
Definitions.
new text end
(a) For purposes of this sectiondeleted text begin :deleted text end new text begin , the terms defined in
this subdivision have the meanings given them.
new text end
deleted text begin
(1) "estate" means the gross estate of a decedent as determined for the purpose of
federal estate tax or the estate tax payable to this state;
deleted text end
deleted text begin
(2) "decedent's generation-skipping transfers" means all generation-skipping
transfers as determined for purposes of the federal generation-skipping tax which occur by
reason of the decedent's death which relate to property which is included in the decedent's
estate;
deleted text end
deleted text begin
(3) "person" means any individual, partnership, association, joint stock company,
corporation, limited liability company, government, political subdivision, governmental
agency, or local governmental agency;
deleted text end
deleted text begin
(4) "person interested in the estate" means any person entitled to receive, or who has
received, from a decedent or by reason of the death of a decedent any property or interest
therein included in the decedent's estate. It includes a personal representative, guardian,
conservator, trustee, and custodian;
deleted text end
deleted text begin
(5) "state" means any state, territory, or possession of the United States, the District
of Columbia, and the Commonwealth of Puerto Rico;
deleted text end
deleted text begin
(6) "estate tax" means the federal estate tax and the state estate tax determined by the
commissioner of revenue pursuant to chapter 291 and interest and penalties imposed in
addition to the tax;
deleted text end
deleted text begin
(7) "decedent's generation-skipping tax" means the federal generation-skipping
tax imposed on the decedent's generation-skipping transfers and interest and penalties
imposed in addition to the tax;
deleted text end
deleted text begin
(8) "fiduciary" means personal representative or trustee.
deleted text end
deleted text begin
(b) Unless the will or other governing instrument otherwise provides:
deleted text end
deleted text begin
(1) the estate tax shall be apportioned among all persons interested in the estate. The
apportionment is to be made in the proportion that the value of the interest of each person
interested in the estate bears to the total value of the interests of all persons interested in
the estate. The values used in determining the tax are to be used for that purpose; and
deleted text end
deleted text begin
(2) the decedent's generation-skipping tax shall be apportioned as provided by
federal law. To the extent not provided by federal law, the decedent's generation-skipping
tax shall be apportioned among all persons receiving the decedent's generation-skipping
transfers whose tax apportionment is not provided by federal law in the proportion that the
value of the transfer to each person bears to the total value of all such transfers.
deleted text end
deleted text begin
If the decedent's will or other written instrument directs a method of apportionment
of estate tax or of the decedent's generation-skipping tax different from the method
described in this section, the method described in the will or other written instrument
controls provided, however, that:
deleted text end
deleted text begin
(i) unless the decedent's will or other written instrument specifically indicates an
intent to waive any right of recovery under section 2207A of the Internal Revenue Code of
1986, as amended, estate taxes must be apportioned under the method described in this
section to property included in the decedent's estate under section 2044 of the Internal
Revenue Code of 1986, as amended; and
deleted text end
deleted text begin
(ii) unless the decedent's will or other written instrument specifically indicates an
intent to waive any right of recovery under section 2207B of the Internal Revenue Code of
1986, as amended, estate taxes must be apportioned under the method described in this
section to property included in the decedent's estate under section 2036 of the Internal
Revenue Code of 1986, as amended.
deleted text end
deleted text begin
(c)(1) The court in which venue lies for the administration of the estate of a decedent,
on petition for the purpose may determine the apportionment of the estate tax or of the
decedent's generation-skipping tax.
deleted text end
deleted text begin
(2) If the court finds that it is inequitable to apportion interest and penalties in
the manner provided in subsection (b), because of special circumstances, it may direct
apportionment thereof in the manner it finds equitable.
deleted text end
deleted text begin
(3) If the court finds that the assessment of penalties and interest assessed in relation
to the estate tax or the decedent's generation-skipping tax is due to delay caused by the
negligence of the fiduciary, the court may charge the fiduciary with the amount of the
assessed penalties and interest.
deleted text end
deleted text begin
(4) In any action to recover from any person interested in the estate the amount of
the estate tax or of the decedent's generation-skipping tax apportioned to the person in
accordance with this section the determination of the court in respect thereto shall be
prima facie correct.
deleted text end
deleted text begin
(d)(1) The personal representative or other person in possession of the property
of the decedent required to pay the estate tax or the decedent's generation-skipping tax
may withhold from any property distributable to any person interested in the estate,
upon its distribution, the amount of any taxes attributable to the person's interest. If the
property in possession of the personal representative or other person required to pay any
taxes and distributable to any person interested in the estate is insufficient to satisfy the
proportionate amount of the taxes determined to be due from the person, the personal
representative or other person required to pay any taxes may recover the deficiency from
the person interested in the estate. If the property is not in the possession of the personal
representative or the other person required to pay any taxes, the personal representative or
the other person required to pay any taxes may recover from any person interested in the
estate the amount of any taxes apportioned to the person in accordance with this section.
deleted text end
deleted text begin
(2) If property held by the personal representative or other person in possession
of the property of the decedent required to pay the estate tax or the decedent's
generation-skipping tax is distributed prior to final apportionment of the estate tax or
the decedent's generation-skipping tax, the distributee shall provide a bond or other
security for the apportionment liability in the form and amount prescribed by the personal
representative or other person, as the case may be.
deleted text end
deleted text begin
(e)(1) In making an apportionment, allowances shall be made for any exemptions
granted, any classification made of persons interested in the estate and for any deductions
and credits allowed by the law imposing the tax.
deleted text end
deleted text begin
(2) Any exemption or deduction allowed by reason of the relationship of any person
to the decedent, by reason of the purposes of the gift, or by allocation to the gift (either
by election by the fiduciary or by operation of federal law), inures to the benefit of the
person bearing such relationship or receiving the gift; but if an interest is subject to a prior
present interest which is not allowable as a deduction, the tax apportionable against the
present interest shall be paid from principal.
deleted text end
deleted text begin
(3) Any deduction for property previously taxed and any credit for gift taxes or
death taxes of a foreign country paid by the decedent or the decedent's estate inures to the
proportionate benefit of all persons liable to apportionment.
deleted text end
deleted text begin
(4) Any credit for inheritance, succession or estate taxes or taxes in the nature
thereof applicable to property or interests includable in the estate, inures to the benefit of
the persons or interests chargeable with the payment thereof to the extent proportionately
that the credit reduces the tax.
deleted text end
deleted text begin
(5) To the extent that property passing to or in trust for a surviving spouse or any
charitable, public or similar gift or devise is not an allowable deduction for purposes of
the estate tax solely by reason of an estate tax imposed upon and deductible from the
property, the property is not included in the computation provided for in subsection (b)(1)
hereof, and to that extent no apportionment is made against the property. The sentence
immediately preceding does not apply to any case if the result would be to deprive the
estate of a deduction otherwise allowable under section 2053(d) of the Internal Revenue
Code of 1986, as amended, of the United States, relating to deduction for state death taxes
on transfers for public, charitable, or religious uses.
deleted text end
deleted text begin
(f) No interest in income and no estate for years or for life or other temporary interest
in any property or fund is subject to apportionment as between the temporary interest
and the remainder. The estate tax on the temporary interest and the estate tax, if any, on
the remainder is chargeable against the corpus of the property or funds subject to the
temporary interest and remainder. The decedent's generation-skipping tax is chargeable
against the property which constitutes the decedent's generation-skipping transfer.
deleted text end
deleted text begin
(g) Neither the personal representative nor other person required to pay the tax is
under any duty to institute any action to recover from any person interested in the estate
the amount of the estate tax or of the decedent's generation-skipping tax apportioned to the
person until the final determination of the tax. A personal representative or other person
required to pay the estate tax or decedent's generation-skipping tax who institutes the
action within a reasonable time after final determination of the tax is not subject to any
liability or surcharge because any portion of the tax apportioned to any person interested
in the estate was collectible at a time following the death of the decedent but thereafter
became uncollectible. If the personal representative or other person required to pay the
estate tax or decedent's generation-skipping tax cannot collect from any person interested
in the estate the amount of the tax apportioned to the person, the amount not recoverable
shall be equitably apportioned among the other persons interested in the estate who are
subject to apportionment of the tax involved.
deleted text end
deleted text begin
(h) A personal representative acting in another state or a person required to pay the
estate tax or decedent's generation-skipping tax domiciled in another state may institute an
action in the courts of this state and may recover a proportionate amount of the federal
estate tax, of an estate tax payable to another state or of a death duty due by a decedent's
estate to another state, or of the decedent's generation-skipping tax, from a person
interested in the estate who is either domiciled in this state or who owns property in this
state subject to attachment or execution. For the purposes of the action the determination
of apportionment by the court having jurisdiction of the administration of the decedent's
estate in the other state is prima facie correct.
deleted text end
new text begin
(b) "Advanced fraction" means a fraction that has as its numerator the amount of
the advanced tax and as its denominator the value of the interests in insulated property
to which that tax is attributable.
new text end
new text begin
(c) "Advanced tax" means the aggregate amount of estate tax attributable to interests
in insulated property which is required to be advanced by uninsulated holders under
subdivision 5, paragraph (b).
new text end
new text begin
(d) "Apportionable estate" means the value of the gross estate as finally determined
for purposes of the estate tax to be apportioned, reduced by:
new text end
new text begin
(1) any claim or expense allowable as a deduction for purposes of the tax;
new text end
new text begin
(2) the value of any interest in property that, for purposes of the tax, qualifies for a
marital or charitable deduction or otherwise is deductible or is exempt; and
new text end
new text begin
(3) any amount added to the decedent's gross estate because of a gift tax on transfers
made before death.
new text end
new text begin
(e) "Estate tax" means a federal, state, or foreign tax imposed because of the death
of an individual and interest and penalties associated with the tax. The term does not
include an inheritance tax, income tax, or generation-skipping transfer tax other than a
generation-skipping transfer tax incurred on a direct skip taking effect at death.
new text end
new text begin
(f) "Gross estate" means, with respect to an estate tax, all interests in property
subject to the tax.
new text end
new text begin
(g) "Insulated property" means property subject to a time-limited interest which is
included in the apportionable estate but is unavailable for payment of an estate tax because
of impossibility or impracticability.
new text end
new text begin
(h) "Person" means an individual, corporation, business trust, estate, trust,
partnership, limited liability company, association, joint venture, public corporation,
government, governmental subdivision, agency, or instrumentality, or any other legal or
commercial entity.
new text end
new text begin
(i) "Ratable" means apportioned or allocated pro rata according to the relative values
of interests to which the term is to be applied. "Ratably" has a corresponding meaning.
new text end
new text begin
(j) "Special elective benefit" means a reduction in an estate tax obtained by an
election for:
new text end
new text begin
(1) a reduced valuation of specified property that is included in the gross estate;
new text end
new text begin
(2) a deduction from the gross estate, other than a marital or charitable deduction,
allowed for specified property; or
new text end
new text begin
(3) an exclusion from the gross estate of specified property.
new text end
new text begin
(k) "Specified property" means property for which an election has been made for a
special elective benefit.
new text end
new text begin
(l) "Time-limited interest" means an interest in property which terminates on a lapse
of time or on the occurrence or nonoccurrence of an event or which is subject to the
exercise of discretion that could transfer a beneficial interest to another person. The term
does not include a cotenancy unless the cotenancy itself is a time-limited interest.
new text end
new text begin
(m) "Uninsulated holder" means a person who has an interest in uninsulated property.
new text end
new text begin
(n) "Uninsulated property" means property included in the apportionable estate other
than insulated property.
new text end
new text begin
(o) "Value" means, with respect to an interest in property, fair market value as
finally determined for purposes of the estate tax that is to be apportioned, reduced by any
outstanding debt secured by the interest without reduction for taxes paid or required to be
paid or for any special valuation adjustment.
new text end
new text begin
Subd. 2.
new text end
new text begin
Statutory apportionment of estate taxes.
new text end
new text begin
(a) To the extent that
apportionment of an estate tax is not controlled by an instrument described in subdivision
3 and except as otherwise provided in subdivisions 5 and 6, the rules in this subdivision
apply.
new text end
new text begin
(b) Subject to paragraphs (c), (d), and (e), the estate tax is apportioned ratably to
each person that has an interest in the apportionable estate.
new text end
new text begin
(c) A generation-skipping transfer tax incurred on a direct skip taking effect at death
is charged to the person to which the interest in property is transferred.
new text end
new text begin
(d) If property is included in the decedent's gross estate because of section 2044 of
the Internal Revenue Code of 1986 or any similar estate tax provision, the difference
between the total estate tax for which the decedent's estate is liable and the amount of
estate tax for which the decedent's estate would have been liable if the property had not
been included in the decedent's gross estate is apportioned ratably among the holders of
interests in the property. The balance of the tax, if any, is apportioned ratably to each other
person having an interest in the apportionable estate.
new text end
new text begin
(e) Except as otherwise provided in subdivision 3, paragraph (b), clause (4), and
except as to property to which subdivision 6 applies, an estate tax apportioned to persons
holding interests in property subject to a time-limited interest must be apportioned,
without further apportionment, to the principal of that property.
new text end
new text begin
Subd. 3.
new text end
new text begin
Apportionment by will or other dispositive instrument.
new text end
new text begin
(a) Except as
otherwise provided in paragraph (c), the following rules apply:
new text end
new text begin
(1) To the extent that a provision of a decedent's will expressly and unambiguously
directs the apportionment of an estate tax, the tax must be apportioned accordingly.
new text end
new text begin
(2) Any portion of an estate tax not apportioned pursuant to clause (1) must be
apportioned in accordance with any provision of a revocable trust of which the decedent
was the settlor which expressly and unambiguously directs the apportionment of an
estate tax. If conflicting apportionment provisions appear in two or more revocable trust
instruments, the provision in the most recently dated instrument prevails. For purposes
of this clause:
new text end
new text begin
(i) a trust is revocable if it was revocable immediately after the trust instrument was
executed, even if the trust subsequently becomes irrevocable; and
new text end
new text begin
(ii) the date of an amendment to a revocable trust instrument is the date of the
amended instrument only if the amendment contains an apportionment provision.
new text end
new text begin
(3) If any portion of an estate tax is not apportioned pursuant to clause (1) or (2), and
a provision in any other dispositive instrument expressly and unambiguously directs that
any interest in the property disposed of by the instrument is or is not to be applied to the
payment of the estate tax attributable to the interest disposed of by the instrument, the
provision controls the apportionment of the tax to that interest.
new text end
new text begin
(b) Subject to paragraph (c), and unless the decedent expressly and unambiguously
directs the contrary, the following rules apply:
new text end
new text begin
(1) If an apportionment provision directs that a person receiving an interest in
property under an instrument is to be exonerated from the responsibility to pay an estate
tax that would otherwise be apportioned to the interest:
new text end
new text begin
(i) the tax attributable to the exonerated interest must be apportioned among the
other persons receiving interests passing under the instrument; or
new text end
new text begin
(ii) if the values of the other interests are less than the tax attributable to the
exonerated interest, the deficiency must be apportioned ratably among the other persons
receiving interests in the apportionable estate that are not exonerated from apportionment
of the tax.
new text end
new text begin
(2) If an apportionment provision directs that an estate tax is to be apportioned to
an interest in property, a portion of which qualifies for a marital or charitable deduction,
the estate tax must first be apportioned ratably among the holders of the portion that does
not qualify for a marital or charitable deduction and then apportioned ratably among the
holders of the deductible portion to the extent that the value of the nondeductible portion
is insufficient.
new text end
new text begin
(3) Except as otherwise provided in clause (4), if an apportionment provision
directs that an estate tax be apportioned to property in which one or more time-limited
interests exist, other than interests in specified property under subdivision 6, the tax must
be apportioned to the principal of that property, regardless of the deductibility of some
of the interests in that property.
new text end
new text begin
(4) If an apportionment provision directs that an estate tax is to be apportioned to the
holders of interests in property in which one or more time-limited interests exist and a
charity has an interest that otherwise qualifies for an estate tax charitable deduction, the
tax must first be apportioned, to the extent feasible, to interests in property that have not
been distributed to the persons entitled to receive the interests.
new text end
new text begin
(c) A provision that apportions an estate tax is ineffective to the extent that it
increases the tax apportioned to a person having an interest in the gross estate over
which the decedent had no power to transfer immediately before the decedent executed
the instrument in which the apportionment direction was made. For purposes of this
paragraph, a testamentary power of appointment is a power to transfer the property that
is subject to the power.
new text end
new text begin
Subd. 4.
new text end
new text begin
Credits and deferrals.
new text end
new text begin
Except as otherwise provided in subdivisions 5 and
6, the following rules apply to credits and deferrals of estate taxes:
new text end
new text begin
(1) A credit resulting from the payment of gift taxes or from estate taxes paid on
property previously taxed inures ratably to the benefit of all persons to which the estate
tax is apportioned.
new text end
new text begin
(2) A credit for state or foreign estate taxes inures ratably to the benefit of all
persons to which the estate tax is apportioned, except that the amount of a credit for
a state or foreign tax paid by a beneficiary of the property on which the state or foreign
tax was imposed, directly or by a charge against the property, inures to the benefit of
the beneficiary.
new text end
new text begin
(3) If payment of a portion of an estate tax is deferred because of the inclusion in the
gross estate of a particular interest in property, the benefit of the deferral inures ratably to
the persons to which the estate tax attributable to the interest is apportioned. The burden
of any interest charges incurred on a deferral of taxes and the benefit of any tax deduction
associated with the accrual or payment of the interest charge is allocated ratably among
the persons receiving an interest in the property.
new text end
new text begin
Subd. 5.
new text end
new text begin
Insulated property: advancement of tax.
new text end
new text begin
(a) If an estate tax is to be
advanced pursuant to paragraph (b) by persons holding interests in uninsulated property
subject to a time-limited interest other than property to which subdivision 6 applies, the
tax must be advanced, without further apportionment, from the principal of the uninsulated
property.
new text end
new text begin
(b) Subject to subdivision 8, paragraphs (b) and (d), an estate tax attributable to
interests in insulated property must be advanced ratably by uninsulated holders. If
the value of an interest in uninsulated property is less than the amount of estate taxes
otherwise required to be advanced by the holder of that interest, the deficiency must be
advanced ratably by the persons holding interests in properties that are excluded from the
apportionable estate under subdivision 1, paragraph (d), clause 2, as if those interests were
in uninsulated property.
new text end
new text begin
(c) A court having jurisdiction to determine the apportionment of an estate tax may
require a beneficiary of an interest in insulated property to pay all or part of the estate tax
otherwise apportioned to the interest if the court finds that it would be substantially more
equitable for that beneficiary to bear the tax liability personally than for that part of the
tax to be advanced by uninsulated holders.
new text end
new text begin
(d) When a distribution of insulated property is made, each uninsulated holder may
recover from the distributee a ratable portion of the advanced fraction of the property
distributed. To the extent that undistributed insulated property ceases to be insulated,
each uninsulated holder may recover from the property a ratable portion of the advanced
fraction of the total undistributed property.
new text end
new text begin
(e) Upon a distribution of insulated property for which, pursuant to paragraph (c),
the distributee becomes obligated to make a payment to uninsulated holders, a court may
award an uninsulated holder a recordable lien on the distributee's property to secure the
distributee's obligation to that uninsulated holder.
new text end
new text begin
Subd. 6.
new text end
new text begin
Apportionment and recapture of special elective benefits.
new text end
new text begin
(a) If an
election is made for one or more special elective benefits, an initial apportionment of a
hypothetical estate tax must be computed as if no election for any of those benefits had
been made. The aggregate reduction in estate tax resulting from all elections made must
be allocated among holders of interests in the specified property in the proportion that
the amount of deduction, reduced valuation, or exclusion attributable to each holder's
interest bears to the aggregate amount of deductions, reduced valuations, and exclusions
obtained by the decedent's estate from the elections. If the estate tax initially apportioned
to the holder of an interest in specified property is reduced to zero, any excess amount of
reduction reduces ratably the estate tax apportioned to other persons that receive interests
in the apportionable estate.
new text end
new text begin
(b) An additional estate tax imposed to recapture all or part of a special elective
benefit must be charged to the persons that are liable for the additional tax under the
law providing for the recapture.
new text end
new text begin
Subd. 7.
new text end
new text begin
Securing payment of estate tax from property in possession of
fiduciary.
new text end
new text begin
(a) A fiduciary may defer a distribution of property until the fiduciary is
satisfied that adequate provision for payment of the estate tax has been made.
new text end
new text begin
(b) A fiduciary may withhold from a distributee an amount equal to the amount of
estate tax apportioned to an interest of the distributee.
new text end
new text begin
(c) As a condition to a distribution, a fiduciary may require the distributee to provide
a bond or other security for the portion of the estate tax apportioned to the distributee.
new text end
new text begin
Subd. 8.
new text end
new text begin
Collection of estate tax by fiduciary.
new text end
new text begin
(a) A fiduciary responsible for
payment of an estate tax may collect from any person the tax apportioned to and the
tax required to be advanced by the person.
new text end
new text begin
(b) Except as otherwise provided in subdivision 5, any estate tax due from a person
that cannot be collected from the person may be collected by the fiduciary from other
persons in the following order of priority:
new text end
new text begin
(1) any person having an interest in the apportionable estate which is not exonerated
from the tax;
new text end
new text begin
(2) any other person having an interest in the apportionable estate; and
new text end
new text begin
(3) any person having an interest in the gross estate.
new text end
new text begin
(c) A domiciliary fiduciary may recover from an ancillary personal representative the
estate tax apportioned to the property controlled by the ancillary personal representative.
new text end
new text begin
(d) The total tax collected from a person pursuant to this section may not exceed
the value of the person's interest.
new text end
new text begin
Subd. 9.
new text end
new text begin
Right of reimbursement.
new text end
new text begin
(a) A person required under subdivision 8 to
pay an estate tax greater than the amount due from the person under subdivision 2 or 3
has a right to reimbursement from another person to the extent that the other person has
not paid the tax required by subdivision 2 or 3 and a right to reimbursement ratably from
other persons to the extent that each has not contributed a portion of the amount collected
under subdivision 8, paragraph (b).
new text end
new text begin
(b) A fiduciary may enforce the right of reimbursement under paragraph (a) on
behalf of the person that is entitled to the reimbursement and shall take reasonable steps to
do so if requested by the person.
new text end
new text begin
Subd. 10.
new text end
new text begin
Action to determine or enforce act.
new text end
new text begin
A fiduciary, transferee, or
beneficiary of the gross estate may maintain an action for declaratory judgment to have a
court determine and enforce this section.
new text end
new text begin
Subd. 11.
new text end
new text begin
Uniformity of application and construction.
new text end
new text begin
In applying and construing
this section, consideration must be given to the need to promote uniformity of the
law with respect to its subject matter among states that enact the Uniform Estate Tax
Apportionment Act.
new text end
new text begin
Subd. 12.
new text end
new text begin
Short title.
new text end
new text begin
This section may be cited as the "Uniform Estate Tax
Apportionment Act."
new text end
new text begin
Subd. 13.
new text end
new text begin
Delayed application.
new text end
new text begin
(a) Subdivisions 2 to 6 do not apply to the estate
of a decedent who dies on or within three years after January 1, 2010, nor to the estate
of a decedent who dies more than three years after January 1, 2010, if the decedent
continuously lacked testamentary capacity from the expiration of the three-year period
until the date of death.
new text end
new text begin
(b) For the estate of a decedent who dies on or after January 1, 2010, to which
subdivisions 2 to 6 do not apply, estate taxes must be apportioned pursuant to the law in
effect immediately before January 1, 2010.
new text end
Sec. 2. new text begin EFFECTIVE DATE.
new text end
new text begin
Section 1 is effective for taxes payable after December 31, 2009.
new text end
ARTICLE 3
UNIFORM DISCLAIMER OF PROPERTY INTERESTS ACT
Section 1.
new text begin
[524.2-1101] SHORT TITLE.
new text end
new text begin
Sections 524.2-1101 to 524.2-1116 may be cited as the "Uniform Disclaimer of
Property Interests Act."
new text end
Sec. 2.
new text begin
[524.2-1102] DEFINITIONS.
new text end
new text begin
As used in sections 524.2-1101 to 524.2-1116:
new text end
new text begin
(1) "benefactor means the creator of the interest that is subject to a disclaimer;
new text end
new text begin
(2) "beneficiary designation" means an instrument, other than an instrument creating
or amending a trust, naming the beneficiary of:
new text end
new text begin
(i) an annuity or insurance policy;
new text end
new text begin
(ii) an account with a designation for payment on death;
new text end
new text begin
(iii) a security registered in beneficiary form;
new text end
new text begin
(iv) a pension, profit-sharing, retirement, or other employment-related benefit plan;
or
new text end
new text begin
(v) any other nonprobate transfer at death;
new text end
new text begin
(3) "disclaimant" means the person to whom a disclaimed interest or power would
have passed had the disclaimer not been made;
new text end
new text begin
(4) "disclaimed interest" or "power" means the portion of the interest that would
have passed to the disclaimant had the disclaimer not been made;
new text end
new text begin
(5) "disclaimer" means the refusal to accept an interest in or power over property;
new text end
new text begin
(6) "fiduciary" means a personal representative, trustee of a trust, agent acting under
a power of attorney, conservator, or other person authorized to act as a fiduciary with
respect to the property of another person;
new text end
new text begin
(7) "future interest" means an interest that takes effect in possession or enjoyment, if
at all, later than the time of its creation;
new text end
new text begin
(8) "holder" means a person who has an interest in or power over property;
new text end
new text begin
(9) "insolvent" means that the sum of a person's debts is greater than all of the
person's assets at fair valuation. A person is presumed to be "insolvent" if the person is
generally not paying debts as they become due. Assets do not include property that has
been transferred, concealed, or removed, with intent to hinder, delay, or defraud creditors,
or has been transferred in a manner making the transfer voidable. Debts do not include
an obligation to the extent it is secured by a valid lien or property of the debtor not
included as an asset;
new text end
new text begin
(10) "jointly held property" means property held in the names of two or more
persons under an arrangement in which all holders have concurrent interests and under
which the last surviving holder is entitled to the whole of the property;
new text end
new text begin
(11) "person" means an individual, living, deceased, or unborn, ascertained
or unascertained, whether entitled to an interest by right of intestacy or otherwise,
corporation, business trust, partnership, limited liability company, association, joint
venture, government, government subdivision, agency or instrumentality, public
corporation, or other commercial entity;
new text end
new text begin
(12) "time of distribution" means the time when a disclaimed interest would have
taken effect in possession or enjoyment;
new text end
new text begin
(13) "state" means a state of the United States, the District of Columbia, the
Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory of
insular possession subject to the jurisdiction of the United States. The term includes an
Indian tribe or band, or Alaskan native village, recognized by federal law or formally
acknowledged by a state; and
new text end
new text begin
(14) "trust" means:
new text end
new text begin
(i) an express trust charitable or noncharitable, with additions thereto, whenever
and however created; and
new text end
new text begin
(ii) a trust created pursuant to a statute, judgment, or decree which requires the trust
be administered in the manner of an express trust.
new text end
Sec. 3.
new text begin
[524.2-1103] SCOPE.
new text end
new text begin
Sections 524.2-1101 to 524.2-1116 apply to disclaimers of any interest in or power
over property, whenever created. Except as provided in section 524.2-1116, sections
524.2-1101 to 524.2-1116 are the exclusive means by which a disclaimer may be made
under Minnesota law.
new text end
Sec. 4.
new text begin
[524.2-1104] TAX-QUALIFIED DISCLAIMER.
new text end
new text begin
If the disclaimant is not insolvent, notwithstanding any other provision of sections
524.2-1101 to 524.2-1116, if, as a result of a disclaimer or transfer, the disclaimed or
transferred interest is treated pursuant to the provisions of section 2518 of the Internal
Revenue Code of 1986, as in effect on January 1, 2010, as never having been transferred to
the disclaimant, then the disclaimer or transfer is effective as a disclaimer under sections
524.2-1101 to 524.2-1116.
new text end
Sec. 5.
new text begin
[524.2-1105] WHEN DISCLAIMER IS PERMITTED.
new text end
new text begin
A disclaimer may be made at any time unless it is barred under section 524.2-1106.
Nevertheless, as to a disclaimer intended to be a qualified disclaimer for federal tax
purposes, the disclaimer must be received within the time limit specified in section
2518(b) of the Internal Revenue Code of 1986.
new text end
Sec. 6.
new text begin
[524.2-1106] WHEN DISCLAIMER IS BARRED OR LIMITED.
new text end
new text begin
(a) A disclaimer is barred by a written waiver of the right to disclaim.
new text end
new text begin
(b) A disclaimer of an interest in property is barred if any of the following events
occur before the disclaimer becomes effective:
new text end
new text begin
(1) the disclaimant accepts the portion of the interest sought to be disclaimed;
new text end
new text begin
(2) the disclaimant voluntarily assigns, conveys, encumbers, pledges, or transfers the
portion of the interest sought to be disclaimed or contracts to do so;
new text end
new text begin
(3) the portion of the interest sought to be disclaimed is sold pursuant to a judicial
sale; or
new text end
new text begin
(4) the disclaimant is insolvent when the disclaimer becomes irrevocable.
new text end
new text begin
(c) A disclaimer, in whole or in part, of the future exercise of a power held in a
fiduciary capacity is not barred by its previous exercise.
new text end
new text begin
(d) A disclaimer, in whole or in part, of the future exercise of a power not held in a
fiduciary capacity is not barred by its previous exercise unless the power is exercisable in
favor of the disclaimant.
new text end
new text begin
(e) A disclaimer of an interest in, or a power over, property which is barred by
this section is ineffective.
new text end
Sec. 7.
new text begin
[524.2-1107] POWER TO DISCLAIM; GENERAL REQUIREMENTS;
WHEN IRREVOCABLE.
new text end
new text begin
(a) A person may disclaim, in whole or in part, any interest in or power over
property, including a power of appointment. A person may disclaim the interest or power
even if its creator imposed a spendthrift provision or similar restriction on transfer or a
restriction or limitation on the right to disclaim.
new text end
new text begin
(b) With court approval, a fiduciary may disclaim, in whole or in part, any interest in
or power over property, including a power of appointment when acting in a representative
capacity. Without court approval, a fiduciary may disclaim, in whole or in part, any interest
in or power over property, including a power of appointment, if and to the extent that the
instrument creating the fiduciary relationship explicitly grants the fiduciary the right to
disclaim. With court approval, a custodial parent may disclaim on behalf of a minor child
for whom no conservator has been appointed, in whole or in part, any interest in or power
over property, including a power of appointment, which the minor child is to receive.
new text end
new text begin
(c) To be effective, a disclaimer must be in writing, declare the writing as a
disclaimer, describe the interest or power disclaimed, and be signed by the person or
fiduciary making the disclaimer and acknowledged in the manner provided for deeds of
real estate to be recorded in this state. In addition, for a disclaimer to be effective, an
original of the disclaimer must be delivered or filed in the manner provided in section
524.2-1114.
new text end
new text begin
(d) A partial disclaimer may be expressed as a fraction, percentage, monetary
amount, term of years, limitation of a power, or any other interest or estate in the property.
new text end
new text begin
(e) A disclaimer becomes irrevocable when the disclaimer is delivered or filed
pursuant to section 524.2-1114 or it becomes effective as provided in sections 524.2-1108
to 524.2-1113, whichever occurs later.
new text end
new text begin
(f) A disclaimer made under sections 524.2-1101 to 524.2-1116 is not a transfer,
assignment, or release.
new text end
Sec. 8.
new text begin
[524.2-1108] DISCLAIMER OF INTEREST IN PROPERTY.
new text end
new text begin
(a) Except for a disclaimer governed by section 524.2-1109 or 524.2-1110, the rules
in paragraphs (b) to (d) apply to a disclaimer of an interest in property.
new text end
new text begin
(b) The disclaimer takes effect as of the time the instrument creating the interest
becomes irrevocable, or, if the interest arose under the law of intestate succession, as of
the time of the intestate's death.
new text end
new text begin
(c) The disclaimed interest passes according to any provision in the instrument
creating the interest providing for the disposition of the interest, should it be disclaimed,
or as disclaimed interests in general.
new text end
new text begin
(d) If the instrument does not contain a provision described in paragraph (c), the
following rules apply:
new text end
new text begin
(1) if the disclaimant is an individual, the disclaimed interest passes as if the
disclaimant had died immediately before the interest was created, unless under the
governing instrument or other applicable law, the disclaimed interest is contingent on
surviving to the time of distribution, in which case the disclaimed interest passes as if
the disclaimant had died immediately before the time for distribution. However, if, by
law or under the governing instrument, the descendants of the disclaimant would share
in the disclaimed interest by any method of representation had the disclaimant died
before the time of distribution, the disclaimed interest passes only to the descendants of
the disclaimant who survive the time of distribution. For purposes of this paragraph, a
disclaimed interest is created at the death of the benefactor or such earlier time, if any, that
the benefactor's transfer of the interest is a completed gift for federal gift tax purposes.
Also for purposes of this paragraph, a disclaimed interest in an inter vivos trust and other
will substitutes that do not lapse with certainty under state law shall pass as if the interest
had been created under a will;
new text end
new text begin
(2) if the disclaimant is not an individual, the disclaimed interest passes as if the
disclaimant did not exist; and
new text end
new text begin
(3) upon the disclaimer of a preceding interest, a future interest held by a person
other than the disclaimant takes effect as if the disclaimant had died or ceased to exist
immediately before the time of distribution, but a future interest held by the disclaimant is
not accelerated in possession or enjoyment as a result of the disclaimer.
new text end
Sec. 9.
new text begin
[524.2-1109] DISCLAIMER OF RIGHTS OF SURVIVORSHIP IN
JOINTLY HELD PROPERTY.
new text end
new text begin
(a) Upon the death of a holder of jointly held property:
new text end
new text begin
(1) if, during the deceased holder's lifetime, the deceased holder could have
unilaterally regained a portion of the property attributable to the deceased holder's
contributions without the consent of any other holder, another holder may disclaim, in
whole or in part, a fractional share of that portion of the property attributable to the
deceased holder's contributions determined by dividing the number one by the number of
joint holders alive immediately after the death of the holder to whose death the disclaimer
relates; and
new text end
new text begin
(2) for all other jointly held property, another holder may disclaim, in whole or
in part, a fraction of the whole of the property the numerator of which is one and the
denominator of which is the product of the number of joint holders alive immediately
before the death of the holder to whose death the disclaimer relates multiplied by the
number of joint holders alive immediately after the death of the holder to whose death the
disclaimer relates.
new text end
new text begin
(b) A disclaimer under paragraph (a) takes effect as of the death of the holder of
jointly held property to whose death the disclaimer relates.
new text end
new text begin
(c) An interest in jointly held property disclaimed by a surviving holder of the
property passes as if the disclaimant predeceased the holder to whose death the disclaimer
relates.
new text end
Sec. 10.
new text begin
[524.2-1110] DISCLAIMER OF INTEREST BY TRUSTEE.
new text end
new text begin
If a trustee having the power to disclaim under the instrument creating the fiduciary
relationship or pursuant to court order disclaims an interest in property that otherwise
would have become trust property, the interest does not become trust property.
new text end
Sec. 11.
new text begin
[524.2-1111] DISCLAIMER OF POWER OF APPOINTMENT OR
OTHER POWER NOT HELD IN A FIDUCIARY CAPACITY.
new text end
new text begin
If a holder disclaims a power of appointment or other power not held in a fiduciary
capacity, the following rules apply:
new text end
new text begin
(1) if the holder has not exercised the power, the disclaimer takes effect as of the
time the instrument creating the power becomes irrevocable;
new text end
new text begin
(2) if the holder has exercised the power, the disclaimer takes effect immediately
after the last exercise of the power; and
new text end
new text begin
(3) the instrument creating the power is construed as if the power expired when
the disclaimer became effective.
new text end
Sec. 12.
new text begin
[524.2-1112] DISCLAIMER BY APPOINTEE, OBJECT, OR TAKER IN
DEFAULT OF EXERCISE OF POWER OF APPOINTMENT.
new text end
new text begin
(a) A disclaimer of an interest in property by an appointee of a power of appointment
takes effect as of the time the instrument by which the holder exercises the power becomes
irrevocable.
new text end
new text begin
(b) A disclaimer of an interest in property by an object, or taker in default of an
exercise of a power of appointment, takes effect as of the time the instrument creating
the power becomes irrevocable.
new text end
Sec. 13.
new text begin
[524.2-1113] DISCLAIMER OF POWER HELD IN FIDUCIARY
CAPACITY.
new text end
new text begin
(a) If a fiduciary disclaims a power held in a fiduciary capacity which has not been
exercised, the disclaimer takes effect as of the time the instrument creating the power
becomes irrevocable.
new text end
new text begin
(b) If a fiduciary disclaims a power held in a fiduciary capacity which has been
exercised, the disclaimer takes effect immediately after the last exercise of the power.
new text end
new text begin
(c) A disclaimer under this section is effective as to another fiduciary if:
new text end
new text begin
(1) the disclaimer so provides; and
new text end
new text begin
(2) the fiduciary disclaiming has the authority to bind the estate, trust, or other
person for whom the fiduciary is acting.
new text end
Sec. 14.
new text begin
[524.2-1114] DELIVERY OR FILING.
new text end
new text begin
(a) Subject to paragraphs (b) to (l), delivery of a disclaimer may be effective
by personal delivery, first-class mail, or any other method that results in its receipt.
A disclaimer sent by first-class mail is deemed to have been delivered on the date it is
postmarked. Delivery by any other method is effective upon receipt by the person to
whom the disclaimer is to be delivered under this section.
new text end
new text begin
(b) In the case of a disclaimer of an interest created under the law of intestate
succession or an interest created by will, other than an interest in a testamentary trust:
new text end
new text begin
(1) the disclaimer must be delivered to the personal representative of the decedent's
estate; or
new text end
new text begin
(2) if no personal representative is serving when the disclaimer is sought to be
delivered, the disclaimer must be filed with the clerk of the court in any county where
venue of administration would be proper.
new text end
new text begin
(c) In the case of a disclaimer of an interest in a testamentary trust:
new text end
new text begin
(1) the disclaimer must be delivered to the trustee serving when the disclaimer is
delivered or, if no trustee is then serving, to the personal representative of the decedent's
estate; or
new text end
new text begin
(2) if no personal representative is serving when the disclaimer is sought to be
delivered, the disclaimer must be filed with the clerk of the court in any county where
venue of administration of the decedent's estate would be proper.
new text end
new text begin
(d) In the case of a disclaimer of an interest in an inter vivos trust:
new text end
new text begin
(1) the disclaimer must be delivered to the trustee serving when the disclaimer is
delivered;
new text end
new text begin
(2) if no trustee is then serving, it must be filed with the clerk of the court in any
county where the filing of a notice of trust would be proper; or
new text end
new text begin
(3) if the disclaimer is made before the time the instrument creating the trust becomes
irrevocable, the disclaimer must be delivered to the person with the power to revoke the
revocable trust or the transferor of the interest or to such person's legal representative.
new text end
new text begin
(e) In the case of a disclaimer of an interest created by a beneficiary designation
made before the time the designation becomes irrevocable, the disclaimer must be
delivered to the person with the person making the beneficiary designation or to such
person's legal representative.
new text end
new text begin
(f) In the case of a disclaimer of an interest created by a beneficiary designation
made after the time the designation becomes irrevocable, the disclaimer must be delivered
to the person obligated to distribute the interest.
new text end
new text begin
(g) In the case of a disclaimer by a surviving holder of jointly held property, the
disclaimer must be delivered to the person to whom the disclaimed interest passes or, if
such person cannot reasonably be located by the disclaimant, the disclaimer must be
delivered as provided in paragraph (b).
new text end
new text begin
(h) In the case of a disclaimer by an object, or taker in default of exercise, of a
power of appointment at any time after the power was created, the disclaimer must be
delivered to:
new text end
new text begin
(1) the holder of the power; or
new text end
new text begin
(2) the fiduciary acting under the instrument that created the power or, if no fiduciary
is serving when the disclaimer is sought to be delivered, filed with a court having authority
to appoint the fiduciary.
new text end
new text begin
(i) In the case of a disclaimer by an appointee of a nonfiduciary power of
appointment, the disclaimer must be delivered to:
new text end
new text begin
(1) the holder of the power or the personal representative of the holder's estate; or
new text end
new text begin
(2) the fiduciary under the instrument that created the power or, if no fiduciary is
serving when the disclaimer is sought to be delivered, filed with a court having authority
to appoint the fiduciary.
new text end
new text begin
(j) In the case of a disclaimer by a fiduciary of a power over a trust or estate, the
disclaimer must be delivered as provided in paragraph (b), (c), or (d) as if the power
disclaimed were an interest in property.
new text end
new text begin
(k) In the case of a disclaimer of a power exercisable by an agent, other than a power
exercisable by a fiduciary over a trust or estate, the disclaimer must be delivered to the
principal or the principal's representative.
new text end
new text begin
(l) Notwithstanding paragraph (a), delivery of a disclaimer of an interest in or
relating to real estate shall be presumed upon the recording of the disclaimer in the office
of the clerk of the court of the county or counties where the real estate is located.
new text end
new text begin
(m) A fiduciary or other person having custody of the disclaimed interest is not
liable for any otherwise proper distribution or other disposition made without actual
notice of the disclaimer or, if the disclaimer is barred under section 524.2-1106, for any
otherwise proper distribution or other disposition made in reliance on the disclaimer, if
the distribution or disposition is made without actual knowledge of the facts constituting
the bar of the right to disclaim.
new text end
Sec. 15.
new text begin
[524.2-1115] RECORDING OF DISCLAIMER RELATING TO REAL
ESTATE.
new text end
new text begin
(a) A disclaimer of an interest in or relating to real estate does not provide
constructive notice to all persons unless the disclaimer contains a legal description of the
real estate to which the disclaimer relates and unless the disclaimer is filed for recording in
the office of the county recorder in the county or counties where the real estate is located.
new text end
new text begin
(b) An effective disclaimer meeting the requirements of paragraph (a) constitutes
constructive notice to all persons from the time of filing. Failure to record the disclaimer
does not affect its validity as between the disclaimant and persons to whom the property
interest or power passes by reason of the disclaimer.
new text end
Sec. 16.
new text begin
[524.2-1116] APPLICATION TO EXISTING RELATIONSHIPS.
new text end
new text begin
Except as otherwise provided in section 524.2-1106, an interest in or power over
property existing on January 1, 2010, as to which the time for delivering or filing a
disclaimer under laws superseded by sections 524.2-1101 to 524.2-1116 has not expired,
may be disclaimed after January 1, 2010.
new text end
Sec. 17. new text begin REPEALER.
new text end
new text begin
Minnesota Statutes 2008, sections 501B.86; and 525.532,
new text end
new text begin
are repealed.
new text end
Sec. 18. new text begin EFFECTIVE DATE.
new text end
new text begin
Sections 1 to 17 are effective January 1, 2010.
new text end
ARTICLE 4
UNIFORM POWER OF ATTORNEY ACT
Section 1.
new text begin
[523A.101] SHORT TITLE.
new text end
new text begin
This chapter may be cited as the "Uniform Power of Attorney Act."
new text end
Sec. 2.
new text begin
[523A.102] DEFINITIONS.
new text end
new text begin
(a) The definitions in this section apply to this chapter.
new text end
new text begin
(b) "Agent" means a person granted authority to act for a principal under a power
of attorney, whether denominated an agent, attorney-in-fact, or otherwise. The term
includes an original agent, co-agent, successor agent, and a person to which an agent's
authority is delegated.
new text end
new text begin
(c) "Durable," with respect to a power of attorney, means not terminated by the
principal's incapacity.
new text end
new text begin
(d) "Electronic" means relating to technology having electrical, digital, magnetic,
wireless, optical, electromagnetic, or similar capabilities.
new text end
new text begin
(e) "Good faith" means honesty in fact.
new text end
new text begin
(f) "Incapacity" means inability of an individual to manage property or business
affairs because the individual:
new text end
new text begin
(1) has an impairment in the ability to receive and evaluate information or make or
communicate decisions even with the use of technological assistance; or
new text end
new text begin
(2) is:
new text end
new text begin
(i) missing;
new text end
new text begin
(ii) detained, including incarcerated in a penal system; or
new text end
new text begin
(iii) outside the United States and unable to return.
new text end
new text begin
(g) "Person" means an individual, corporation, business trust, estate, trust,
partnership, limited liability company, association, joint venture, public corporation,
government or governmental subdivision, agency, or instrumentality, or any other legal or
commercial entity.
new text end
new text begin
(h) "Power of attorney" means a writing or other record that grants authority to an
agent to act in the place of the principal, whether or not the term power of attorney is used.
new text end
new text begin
(i) "Presently exercisable general power of appointment," with respect to property
or a property interest subject to a power of appointment, means power exercisable at the
time in question to vest absolute ownership in the principal individually, the principal's
estate, the principal's creditors, or the creditors of the principal's estate. The term includes
a power of appointment not exercisable until the occurrence of a specified event, the
satisfaction of an ascertainable standard, or the passage of a specified period only after
the occurrence of the specified event, the satisfaction of the ascertainable standard, or
the passage of the specified period. The term does not include a power exercisable in a
fiduciary capacity or only by will.
new text end
new text begin
(j) "Principal" means an individual who grants authority to an agent in a power of
attorney.
new text end
new text begin
(k) "Property" means anything that may be the subject of ownership, whether real or
personal, or legal or equitable, or any interest or right therein.
new text end
new text begin
(l) "Record" means information that is inscribed on a tangible medium or that is
stored in an electronic or other medium and is retrievable in perceivable form.
new text end
new text begin
(m) "Sign" means, with present intent to authenticate or adopt a record:
new text end
new text begin
(1) to execute or adopt a tangible symbol; or
new text end
new text begin
(2) to attach to or logically associate with the record an electronic sound, symbol,
or process.
new text end
new text begin
(n) "State" means a state of the United States, the District of Columbia, Puerto
Rico, the United States Virgin Islands, or any territory or insular possession subject to the
jurisdiction of the United States.
new text end
new text begin
(o) "Stocks and bonds" means stocks, bonds, mutual funds, and all other types of
securities and financial instruments, whether held directly, indirectly, or in any other
manner. The term does not include commodity futures contracts and call or put options on
stocks or stock indexes.
new text end
Sec. 3.
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[523A.103] APPLICABILITY.
new text end
new text begin
This chapter applies to all powers of attorney except:
new text end
new text begin
(1) a power to the extent it is coupled with an interest in the subject of the power,
including a power given to or for the benefit of a creditor in connection with a credit
transaction;
new text end
new text begin
(2) a power to make health care decisions;
new text end
new text begin
(3) a proxy or other delegation to exercise voting rights or management rights with
respect to an entity; and
new text end
new text begin
(4) a power created on a form prescribed by a government or governmental
subdivision, agency, or instrumentality for a governmental purpose.
new text end
Sec. 4.
new text begin
[523A.104] POWER OF ATTORNEY IS DURABLE.
new text end
new text begin
A power of attorney created under this chapter is durable unless it expressly provides
that it is terminated by the incapacity of the principal.
new text end
Sec. 5.
new text begin
[523A.105] EXECUTION OF POWER OF ATTORNEY.
new text end
new text begin
A power of attorney must be signed by the principal or in the principal's conscious
presence by another individual directed by the principal to sign the principal's name on the
power of attorney. A signature on a power of attorney is presumed to be genuine if the
principal acknowledges the signature before a notary public or other individual authorized
by law to take acknowledgments.
new text end
Sec. 6.
new text begin
[523A.106] VALIDITY OF POWER OF ATTORNEY.
new text end
new text begin
(a) A power of attorney executed in this state on or after January 1, 2010, is valid if
its execution complies with section 523A.105.
new text end
new text begin
(b) A power of attorney executed in this state before January 1, 2010, is valid if its
execution complied with the law of this state as it existed at the time of execution.
new text end
new text begin
(c) A power of attorney executed other than in this state is valid in this state if, when
the power of attorney was executed, the execution complied with:
new text end
new text begin
(1) the law of the jurisdiction that determines the meaning and effect of the power of
attorney pursuant to section 523A.107; or
new text end
new text begin
(2) the requirements for a military power of attorney pursuant to United States
Code, title 10, section 1044b.
new text end
new text begin
(d) Except as otherwise provided by statute other than this chapter, a photocopy
or electronically transmitted copy of an original power of attorney has the same effect
as the original.
new text end
Sec. 7.
new text begin
[523A.107] MEANING AND EFFECT OF POWER OF ATTORNEY.
new text end
new text begin
The meaning and effect of a power of attorney is determined by the law of the
jurisdiction indicated in the power of attorney and, in the absence of an indication of
jurisdiction, by the law of the jurisdiction in which the power of attorney was executed.
new text end
Sec. 8.
new text begin
[523A.108] NOMINATION OF CONSERVATOR OR GUARDIAN;
RELATION OF AGENT TO COURT-APPOINTED FIDUCIARY.
new text end
new text begin
(a) In a power of attorney, a principal may nominate a conservator or guardian of
the principal's estate or guardian of the principal's person for consideration by the court if
protective proceedings for the principal's estate or person are begun after the principal
executes the power of attorney. Except for good cause shown or disqualification, the court
shall make its appointment in accordance with the principal's most recent nomination.
new text end
new text begin
(b) If, after a principal executes a power of attorney, a court appoints a conservator
or guardian of the principal's estate or other fiduciary charged with the management of
some or all of the principal's property, the agent is accountable to the fiduciary as well
as to the principal. The power of attorney is not terminated and the agent's authority
continues unless limited, suspended, or terminated by the court.
new text end
Sec. 9.
new text begin
[523A.109] WHEN POWER OF ATTORNEY EFFECTIVE.
new text end
new text begin
(a) A power of attorney is effective when executed unless the principal provides in
the power of attorney that it becomes effective at a future date or upon the occurrence
of a future event or contingency.
new text end
new text begin
(b) If a power of attorney becomes effective upon the occurrence of a future event or
contingency, the principal, in the power of attorney, may authorize one or more persons to
determine in a writing or other record that the event or contingency has occurred.
new text end
new text begin
(c) If a power of attorney becomes effective upon the principal's incapacity and the
principal has not authorized a person to determine whether the principal is incapacitated,
or the person authorized is unable or unwilling to make the determination, the power of
attorney becomes effective upon a determination in a writing or other record by:
new text end
new text begin
(1) a physician or licensed psychologist that the principal is incapacitated within the
meaning of section 523A.102, paragraph (f), clause (1); or
new text end
new text begin
(2) an attorney at law, a judge, or an appropriate governmental official that the
principal is incapacitated within the meaning of section 523A.102, paragraph (f), clause
(2).
new text end
new text begin
(d) A person authorized by the principal in the power of attorney to determine
that the principal is incapacitated may act as the principal's personal representative
pursuant to the federal Health Insurance Portability and Accountability Act, sections 1171
through 1179, of the Social Security Act, United States Code, title 42, section 1320d, and
applicable regulations, to obtain access to the principal's health care information and
communicate with the principal's health care provider.
new text end
Sec. 10.
new text begin
[523A.110] TERMINATION OF POWER OF ATTORNEY OR
AGENT'S AUTHORITY.
new text end
new text begin
(a) A power of attorney terminates when:
new text end
new text begin
(1) the principal dies;
new text end
new text begin
(2) the principal becomes incapacitated, if the power of attorney is not durable;
new text end
new text begin
(3) the principal revokes the power of attorney;
new text end
new text begin
(4) the power of attorney provides that it terminates;
new text end
new text begin
(5) the purpose of the power of attorney is accomplished; or
new text end
new text begin
(6) the principal revokes the agent's authority or the agent dies, becomes
incapacitated, or resigns, and the power of attorney does not provide for another agent to
act under the power of attorney.
new text end
new text begin
(b) An agent's authority terminates when:
new text end
new text begin
(1) the principal revokes the authority;
new text end
new text begin
(2) the agent dies, becomes incapacitated, or resigns;
new text end
new text begin
(3) an action is filed for the dissolution or annulment of the agent's marriage to the
principal or their legal separation, unless the power of attorney otherwise provides; or
new text end
new text begin
(4) the power of attorney terminates.
new text end
new text begin
(c) Unless the power of attorney otherwise provides, an agent's authority is
exercisable until the authority terminates under paragraph (b), notwithstanding a lapse of
time since the execution of the power of attorney.
new text end
new text begin
(d) Termination of an agent's authority or of a power of attorney is not effective as
to the agent or another person that, without actual knowledge of the termination, acts in
good faith under the power of attorney. An act so performed, unless otherwise invalid or
unenforceable, binds the principal and the principal's successors in interest.
new text end
new text begin
(e) Incapacity of the principal of a power of attorney that is not durable does not
revoke or terminate the power of attorney as to an agent or other person that, without
actual knowledge of the incapacity, acts in good faith under the power of attorney. An
act so performed, unless otherwise invalid or unenforceable, binds the principal and the
principal's successors in interest.
new text end
new text begin
(f) The execution of a power of attorney does not revoke a power of attorney
previously executed by the principal unless the subsequent power of attorney provides that
the previous power of attorney is revoked or that all other powers of attorney are revoked.
new text end
Sec. 11.
new text begin
[523A.111] CO-AGENTS AND SUCCESSOR AGENTS.
new text end
new text begin
(a) A principal may designate two or more persons to act as co-agents. Unless
the power of attorney otherwise provides, each co-agent may exercise its authority
independently.
new text end
new text begin
(b) A principal may designate one or more successor agents to act if an agent resigns,
dies, becomes incapacitated, is not qualified to serve, or declines to serve. A principal
may grant authority to designate one or more successor agents to an agent or other person
designated by name, office, or function. Unless the power of attorney otherwise provides,
a successor agent:
new text end
new text begin
(1) has the same authority as that granted to the original agent; and
new text end
new text begin
(2) may not act until all predecessor agents have resigned, died, become
incapacitated, are no longer qualified to serve, or have declined to serve.
new text end
new text begin
(c) Except as otherwise provided in the power of attorney and paragraph (d), an
agent that does not participate in or conceal a breach of fiduciary duty committed by
another agent, including a predecessor agent, is not liable for the actions of the other agent.
new text end
new text begin
(d) An agent that has actual knowledge of a breach or imminent breach of fiduciary
duty by another agent shall notify the principal and, if the principal is incapacitated,
take any action reasonably appropriate in the circumstances to safeguard the principal's
best interest. An agent that fails to notify the principal or take action as required by this
paragraph is liable for the reasonably foreseeable damages that could have been avoided if
the agent had notified the principal or taken such action.
new text end
Sec. 12.
new text begin
[523A.112] REIMBURSEMENT AND COMPENSATION OF AGENT.
new text end
new text begin
Unless the power of attorney otherwise provides, an agent is entitled to
reimbursement of expenses reasonably incurred on behalf of the principal and to
compensation that is reasonable under the circumstances.
new text end
Sec. 13.
new text begin
[523A.113] AGENT'S ACCEPTANCE.
new text end
new text begin
Except as otherwise provided in the power of attorney, a person accepts appointment
as an agent under a power of attorney by exercising authority or performing duties as an
agent or by any other assertion or conduct indicating acceptance.
new text end
Sec. 14.
new text begin
[523A.114] AGENT'S DUTIES.
new text end
new text begin
(a) Notwithstanding provisions in the power of attorney, an agent that has accepted
appointment shall:
new text end
new text begin
(1) act in accordance with the principal's reasonable expectations to the extent
actually known by the agent and, otherwise, in the principal's best interest;
new text end
new text begin
(2) act in good faith; and
new text end
new text begin
(3) act only within the scope of authority granted in the power of attorney.
new text end
new text begin
(b) Except as otherwise provided in the power of attorney, an agent that has accepted
appointment shall:
new text end
new text begin
(1) act loyally for the principal's benefit;
new text end
new text begin
(2) act so as not to create a conflict of interest that impairs the agent's ability to act
impartially in the principal's best interest;
new text end
new text begin
(3) act with the care, competence, and diligence ordinarily exercised by agents
in similar circumstances;
new text end
new text begin
(4) keep a record of all receipts, disbursements, and transactions made on behalf of
the principal;
new text end
new text begin
(5) cooperate with a person that has authority to make health care decisions for the
principal to carry out the principal's reasonable expectations to the extent actually known
by the agent and, otherwise, act in the principal's best interest; and
new text end
new text begin
(6) attempt to preserve the principal's estate plan, to the extent actually known
by the agent, if preserving the plan is consistent with the principal's best interest based
on all relevant factors, including:
new text end
new text begin
(i) the value and nature of the principal's property;
new text end
new text begin
(ii) the principal's foreseeable obligations and need for maintenance;
new text end
new text begin
(iii) minimization of taxes, including income, estate, inheritance, generation-skipping
transfer, and gift taxes; and
new text end
new text begin
(iv) eligibility for a benefit, a program, or assistance under a statute or regulation.
new text end
new text begin
(c) An agent that acts in good faith is not liable to any beneficiary of the principal's
estate plan for failure to preserve the plan.
new text end
new text begin
(d) An agent that acts with care, competence, and diligence for the best interest of
the principal is not liable solely because the agent also benefits from the act or has an
individual or conflicting interest in relation to the property or affairs of the principal.
new text end
new text begin
(e) If an agent is selected by the principal because of special skills or expertise
possessed by the agent or in reliance on the agent's representation that the agent has
special skills or expertise, the special skills or expertise must be considered in determining
whether the agent has acted with care, competence, and diligence under the circumstances.
new text end
new text begin
(f) Absent a breach of duty to the principal, an agent is not liable if the value of
the principal's property declines.
new text end
new text begin
(g) An agent that exercises authority to delegate to another person the authority
granted by the principal or that engages another person on behalf of the principal is not
liable for an act, error of judgment, or default of that person if the agent exercises care,
competence, and diligence in selecting and monitoring the person.
new text end
new text begin
(h) Except as otherwise provided in the power of attorney, an agent is not required
to disclose receipts, disbursements, or transactions conducted on behalf of the principal
unless ordered by a court or requested by the principal, a guardian, a conservator, another
fiduciary acting for the principal, a governmental agency having authority to protect the
welfare of the principal, or, upon the death of the principal, by the personal representative
or successor in interest of the principal's estate. If so requested, within 30 days the agent
shall comply with the request or provide a writing or other record substantiating why
additional time is needed and shall comply with the request within an additional 30 days.
new text end
Sec. 15.
new text begin
[523A.115] EXONERATION OF AGENT.
new text end
new text begin
A provision in a power of attorney relieving an agent of liability for breach of duty
is binding on the principal and the principal's successors in interest except to the extent
the provision:
new text end
new text begin
(1) relieves the agent of liability for breach of duty committed dishonestly, with an
improper motive, or with reckless indifference to the purposes of the power of attorney or
the best interest of the principal; or
new text end
new text begin
(2) was inserted as a result of an abuse of a confidential or fiduciary relationship
with the principal.
new text end
Sec. 16.
new text begin
[523A.116] JUDICIAL RELIEF.
new text end
new text begin
(a) The following persons may petition a court to construe a power of attorney or
review the agent's conduct, and grant appropriate relief:
new text end
new text begin
(1) the principal or the agent;
new text end
new text begin
(2) a guardian, conservator, or other fiduciary acting for the principal;
new text end
new text begin
(3) a person authorized to make health care decisions for the principal;
new text end
new text begin
(4) the principal's spouse, parent, or descendant;
new text end
new text begin
(5) an individual who would qualify as a presumptive heir of the principal;
new text end
new text begin
(6) a person named as a beneficiary to receive any property, benefit, or contractual
right on the principal's death or as a beneficiary of a trust created by or for the principal
that has a financial interest in the principal's estate;
new text end
new text begin
(7) a governmental agency having regulatory authority to protect the welfare of
the principal;
new text end
new text begin
(8) the principal's caregiver or another person that demonstrates sufficient interest in
the principal's welfare; and
new text end
new text begin
(9) a person asked to accept the power of attorney.
new text end
new text begin
(b) Upon motion by the principal, the court shall dismiss a petition filed under
this section, unless the court finds that the principal lacks capacity to revoke the agent's
authority or the power of attorney.
new text end
Sec. 17.
new text begin
[523A.117] AGENT'S LIABILITY.
new text end
new text begin
An agent that violates this chapter is liable to the principal or the principal's
successors in interest for the amount required to:
new text end
new text begin
(1) restore the value of the principal's property to what it would have been had
the violation not occurred; and
new text end
new text begin
(2) reimburse the principal or the principal's successors in interest for the attorney's
fees and costs paid on the agent's behalf.
new text end
Sec. 18.
new text begin
[523A.118] AGENT'S RESIGNATION; NOTICE.
new text end
new text begin
Unless the power of attorney provides a different method for an agent's resignation,
an agent may resign by giving notice to the principal and, if the principal is incapacitated:
new text end
new text begin
(1) to the conservator or guardian, if one has been appointed for the principal, and a
co-agent or successor agent; or
new text end
new text begin
(2) if there is no person described in clause (1), to:
new text end
new text begin
(i) the principal's caregiver;
new text end
new text begin
(ii) another person reasonably believed by the agent to have sufficient interest in
the principal's welfare; or
new text end
new text begin
(iii) a governmental agency having authority to protect the welfare of the principal.
new text end
Sec. 19.
new text begin
[523A.119] ACCEPTANCE OF AND RELIANCE UPON
ACKNOWLEDGED POWER OF ATTORNEY.
new text end
new text begin
(a) For purposes of this section and section 523A.120, "acknowledged" means
purportedly verified before a notary public or other individual authorized to take
acknowledgements.
new text end
new text begin
(b) A person that in good faith accepts an acknowledged power of attorney without
actual knowledge that the signature is not genuine may rely upon the presumption under
section 523A.105 that the signature is genuine.
new text end
new text begin
(c) A person that in good faith accepts an acknowledged power of attorney without
actual knowledge that the power of attorney is void, invalid, or terminated; that the
purported agent's authority is void, invalid, or terminated; or that the agent is exceeding
or improperly exercising the agent's authority may rely upon the power of attorney
as if the power of attorney were genuine, valid, and still in effect; the agent's authority
were genuine, valid, and still in effect; and the agent had not exceeded and had properly
exercised the authority.
new text end
new text begin
(d) A person that is asked to accept an acknowledged power of attorney may request,
and rely upon, without further investigation:
new text end
new text begin
(1) an agent's certification under penalty of perjury of any factual matter concerning
the principal, agent, or power of attorney;
new text end
new text begin
(2) an English translation of the power of attorney if the power of attorney contains,
in whole or in part, language other than English; and
new text end
new text begin
(3) an opinion of counsel as to any matter of law concerning the power of attorney
if the person making the request provides in a writing or other record the reason for the
request.
new text end
new text begin
(e) An English translation or an opinion of counsel requested under this section must
be provided at the principal's expense unless the request is made more than seven business
days after the power of attorney is presented for acceptance.
new text end
new text begin
(f) For purposes of this section and section 523A.120, a person that conducts
activities through employees is without actual knowledge of a fact relating to a power of
attorney, a principal, or an agent if the employee conducting the transaction involving the
power of attorney is without actual knowledge of the fact.
new text end
Sec. 20.
new text begin
[523A.120] LIABILITY FOR REFUSAL TO ACCEPT
ACKNOWLEDGED POWER OF ATTORNEY.
new text end
new text begin
(a) Except as otherwise provided in paragraph (b):
new text end
new text begin
(1) a person shall either accept an acknowledged power of attorney or request a
certification, a translation, or an opinion of counsel under section 523A.119, paragraph (d),
no later than seven business days after presentation of the power of attorney for acceptance;
new text end
new text begin
(2) if a person requests a certification, a translation, or an opinion of counsel under
section 523A.119, paragraph (d), the person shall accept the power of attorney no later than
five business days after receipt of the certification, translation, or opinion of counsel; and
new text end
new text begin
(3) a person may not require an additional or different form of power of attorney
for authority granted in the power of attorney presented.
new text end
new text begin
(b) A person is not required to accept an acknowledged power of attorney if:
new text end
new text begin
(1) the person is not otherwise required to engage in a transaction with the principal
in the same circumstances;
new text end
new text begin
(2) engaging in a transaction with the agent or the principal in the same
circumstances would be inconsistent with federal law;
new text end
new text begin
(3) the person has actual knowledge of the termination of the agent's authority or of
the power of attorney before exercise of the power;
new text end
new text begin
(4) a request for a certification, a translation, or an opinion of counsel under section
523A.119, paragraph (d), is refused;
new text end
new text begin
(5) the person in good faith believes that the power of attorney is not valid or that
the agent does not have the authority to perform the act requested, whether or not a
certification, a translation, or an opinion of counsel under section 523A.119, paragraph
(d), has been requested or provided; or
new text end
new text begin
(6) the person makes, or has actual knowledge that another person has made, a report
to the local adult protective services office stating a good faith belief that the principal
may be subject to physical or financial abuse, neglect, exploitation, or abandonment by the
agent or a person acting for or with the agent.
new text end
new text begin
(c) A person that refuses in violation of this section to accept an acknowledged
power of attorney is subject to:
new text end
new text begin
(1) a court order mandating acceptance of the power of attorney; and
new text end
new text begin
(2) liability for reasonable attorney fees and costs incurred in any action or
proceeding that confirms the validity of the power of attorney or mandates acceptance
of the power of attorney.
new text end
Sec. 21.
new text begin
[523A.121] PRINCIPLES OF LAW AND EQUITY.
new text end
new text begin
Unless displaced by a provision of this chapter, the principles of law and equity
supplement this chapter.
new text end
Sec. 22.
new text begin
[523A.122] LAWS APPLICABLE TO FINANCIAL INSTITUTIONS
AND ENTITIES.
new text end
new text begin
This chapter does not supersede any other law applicable to financial institutions or
other entities, and the other law controls if inconsistent with this chapter.
new text end
Sec. 23.
new text begin
[523A.123] REMEDIES UNDER OTHER LAW.
new text end
new text begin
The remedies under this chapter are not exclusive and do not abrogate any right or
remedy under the law of this state other than this chapter.
new text end
Sec. 24.
new text begin
[523A.201] AUTHORITY THAT REQUIRES SPECIFIC GRANT;
GRANT OF GENERAL AUTHORITY.
new text end
new text begin
(a) An agent under a power of attorney may do the following on behalf of the
principal or with the principal's property only if the power of attorney expressly grants the
agent the authority and exercise of the authority is not otherwise prohibited by another
agreement or instrument to which the authority or property is subject:
new text end
new text begin
(1) create, amend, revoke, or terminate an inter vivos trust;
new text end
new text begin
(2) make a gift;
new text end
new text begin
(3) create or change rights of survivorship;
new text end
new text begin
(4) create or change a beneficiary designation;
new text end
new text begin
(5) delegate authority granted under the power of attorney;
new text end
new text begin
(6) waive the principal's right to be a beneficiary of a joint and survivor annuity,
including a survivor benefit under a retirement plan;
new text end
new text begin
(7) exercise fiduciary powers that the principal has authority to delegate; or
new text end
new text begin
(8) disclaim property, including a power of appointment.
new text end
new text begin
(b) Notwithstanding a grant of authority to do an act described in paragraph (a),
unless the power of attorney otherwise provides, an agent that is not an ancestor, spouse,
or descendant of the principal, may not exercise authority under a power of attorney to
create in the agent, or in an individual to whom the agent owes a legal obligation of
support, an interest in the principal's property, whether by gift, right of survivorship,
beneficiary designation, disclaimer, or otherwise.
new text end
new text begin
(c) Subject to paragraphs (a), (b), (d), and (e), if a power of attorney grants to an
agent authority to do all acts that a principal could do, the agent has the general authority
described in sections 523A.204 to 523A.216.
new text end
new text begin
(d) Unless the power of attorney otherwise provides, a grant of authority to make a
gift is subject to section 523A.217.
new text end
new text begin
(e) Subject to paragraphs (a), (b), and (d), if the subjects over which authority is
granted in a power of attorney are similar or overlap, the broadest authority controls.
new text end
new text begin
(f) Authority granted in a power of attorney is exercisable with respect to property
that the principal has when the power of attorney is executed or acquires later, whether or
not the property is located in this state and whether or not the authority is exercised or the
power of attorney is executed in this state.
new text end
new text begin
(g) An act performed by an agent pursuant to a power of attorney has the same effect
and inures to the benefit of and binds the principal and the principal's successors in interest
as if the principal had performed the act.
new text end
Sec. 25.
new text begin
[523A.202] INCORPORATION OF AUTHORITY.
new text end
new text begin
(a) An agent has authority described in sections 523A.201 to 523A.217 if the power
of attorney refers to general authority with respect to the descriptive term for the subjects
stated in sections 523A.204 to 523A.217 or cites the section in which the authority is
described.
new text end
new text begin
(b) A reference in a power of attorney to general authority with respect to the
descriptive term for a subject in sections 523A.204 to 523A.217 or a citation to a section
of sections 523A.204 to 523A.217 incorporates the entire section as if it were set out
in full in the power of attorney.
new text end
new text begin
(c) A principal may modify authority incorporated by reference.
new text end
Sec. 26.
new text begin
[523A.203] CONSTRUCTION OF AUTHORITY GENERALLY.
new text end
new text begin
Except as otherwise provided in the power of attorney, by executing a power
of attorney that incorporates by reference a subject described in sections 523A.204
to 523A.217 or that grants to an agent authority to do all acts that a principal could do
pursuant to section 523A.201, paragraph (c), a principal authorizes the agent, with respect
to that subject, to:
new text end
new text begin
(1) demand, receive, and obtain by litigation or otherwise, money or another thing of
value to which the principal is, may become, or claims to be entitled, and conserve, invest,
disburse, or use anything so received or obtained for the purposes intended;
new text end
new text begin
(2) contract in any manner with any person, on terms agreeable to the agent, to
accomplish a purpose of a transaction and perform, rescind, cancel, terminate, reform,
restate, release, or modify the contract or another contract made by or on behalf of the
principal;
new text end
new text begin
(3) execute, acknowledge, seal, deliver, file, or record any instrument or
communication the agent considers desirable to accomplish a purpose of a transaction,
including creating at any time a schedule listing some or all of the principal's property
and attaching it to the power of attorney;
new text end
new text begin
(4) initiate, participate in, submit to alternative dispute resolution, settle, oppose, or
propose or accept a compromise with respect to a claim existing in favor of or against the
principal or intervene in litigation relating to the claim;
new text end
new text begin
(5) seek on the principal's behalf the assistance of a court or other governmental
agency to carry out an act authorized in the power of attorney;
new text end
new text begin
(6) engage, compensate, and discharge an attorney, accountant, discretionary
investment manager, expert witness, or other advisor;
new text end
new text begin
(7) prepare, execute, and file a record, report, or other document to safeguard or
promote the principal's interest under a statute or regulation;
new text end
new text begin
(8) communicate with any representative or employee of a government or
governmental subdivision, agency, or instrumentality, on behalf of, the principal;
new text end
new text begin
(9) access communications intended for, and communicate on behalf of, the
principal, whether by mail, electronic transmission, telephone, or other means; and
new text end
new text begin
(10) do any lawful act with respect to the subject and all property related to the
subject.
new text end
Sec. 27.
new text begin
[523A.204] REAL PROPERTY.
new text end
new text begin
Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to real property authorizes the agent to:
new text end
new text begin
(1) demand, buy, lease, receive, accept as a gift or as security for an extension of
credit, or otherwise acquire or reject an interest in real property or a right incident to
real property;
new text end
new text begin
(2) sell; exchange; convey with or without covenants, representations, or warranties;
quitclaim; release; surrender; retain title for security; encumber; partition; consent to
partitioning; subject to an easement or covenant; subdivide; apply for zoning or other
governmental permits; plat or consent to platting; develop; grant an option concerning;
lease; sublease; contribute to an entity in exchange for an interest in that entity; or
otherwise grant or dispose of an interest in real property or a right incident to real property;
new text end
new text begin
(3) pledge or mortgage an interest in real property or right incident to real property
as security to borrow money or pay, renew, or extend the time of payment of a debt of the
principal or a debt guaranteed by the principal;
new text end
new text begin
(4) release, assign, satisfy, or enforce by litigation or otherwise a mortgage, deed of
trust, conditional sale contract, encumbrance, lien, or other claim to real property which
exists or is asserted;
new text end
new text begin
(5) manage or conserve an interest in real property or a right incident to real property
owned or claimed to be owned by the principal, including:
new text end
new text begin
(i) insuring against liability or casualty or other loss;
new text end
new text begin
(ii) obtaining or regaining possession of or protecting the interest or right by
litigation or otherwise;
new text end
new text begin
(iii) paying, assessing, compromising, or contesting taxes or assessments or applying
for and receiving refunds in connection with them; and
new text end
new text begin
(iv) purchasing supplies, hiring assistance or labor, and making repairs or alterations
to the real property;
new text end
new text begin
(6) use, develop, alter, replace, remove, erect, or install structures or other
improvements upon real property in or incident to which the principal has, or claims to
have, an interest or right;
new text end
new text begin
(7) participate in a reorganization with respect to real property or an entity that owns
an interest in or right incident to real property and receive, and hold, and act with respect
to stocks and bonds or other property received in a plan of reorganization, including:
new text end
new text begin
(i) selling or otherwise disposing of them;
new text end
new text begin
(ii) exercising or selling an option, right of conversion, or similar right with respect
to them; and
new text end
new text begin
(iii) exercising any voting rights in person or by proxy;
new text end
new text begin
(8) change the form of title of an interest in or right incident to real property; and
new text end
new text begin
(9) dedicate to public use, with or without consideration, easements or other real
property in which the principal has, or claims to have, an interest.
new text end
Sec. 28.
new text begin
[523A.205] TANGIBLE PERSONAL PROPERTY.
new text end
new text begin
Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to tangible personal property authorizes the agent
to:
new text end
new text begin
(1) demand, buy, receive, accept as a gift or as security for an extension of credit,
or otherwise acquire or reject ownership or possession of tangible personal property or
an interest in tangible personal property;
new text end
new text begin
(2) sell; exchange; convey with or without covenants, representations, or warranties;
quitclaim; release; surrender; create a security interest in; grant options concerning; lease;
sublease; or otherwise dispose of tangible personal property or an interest in tangible
personal property;
new text end
new text begin
(3) grant a security interest in tangible personal property or an interest in tangible
personal property as security to borrow money or pay, renew, or extend the time of
payment of a debt of the principal or a debt guaranteed by the principal;
new text end
new text begin
(4) release, assign, satisfy, or enforce by litigation or otherwise, a security interest,
lien, or other claim on behalf of the principal, with respect to tangible personal property or
an interest in tangible personal property;
new text end
new text begin
(5) manage or conserve tangible personal property or an interest in tangible personal
property on behalf of the principal, including:
new text end
new text begin
(i) insuring against liability or casualty or other loss;
new text end
new text begin
(ii) obtaining or regaining possession of or protecting the property or interest, by
litigation or otherwise;
new text end
new text begin
(iii) paying, assessing, compromising, or contesting taxes or assessments or applying
for and receiving refunds in connection with taxes or assessments;
new text end
new text begin
(iv) moving the property from place to place;
new text end
new text begin
(v) storing the property for hire or on a gratuitous bailment; and
new text end
new text begin
(vi) using and making repairs, alterations, or improvements to the property; and
new text end
new text begin
(6) change the form of title of an interest in tangible personal property.
new text end
Sec. 29.
new text begin
[523A.206] STOCKS AND BONDS.
new text end
new text begin
Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to stocks and bonds authorizes the agent to:
new text end
new text begin
(1) buy, sell, and exchange stocks and bonds;
new text end
new text begin
(2) establish, continue, modify, or terminate an account with respect to stocks and
bonds;
new text end
new text begin
(3) pledge stocks and bonds as security to borrow, pay, renew, or extend the time of
payment of a debt of the principal;
new text end
new text begin
(4) receive certificates and other evidences of ownership with respect to stocks
and bonds; and
new text end
new text begin
(5) exercise voting rights with respect to stocks and bonds in person or by proxy,
enter into voting trusts, and consent to limitations on the right to vote.
new text end
Sec. 30.
new text begin
[523A.207] COMMODITIES AND OPTIONS.
new text end
new text begin
Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to commodities and options authorizes the agent to:
new text end
new text begin
(1) buy, sell, exchange, assign, settle, and exercise commodity futures contracts and
call or put options on stocks or stock indexes traded on a regulated option exchange; and
new text end
new text begin
(2) establish, continue, modify, and terminate option accounts.
new text end
Sec. 31.
new text begin
[523A.208] BANKS AND OTHER FINANCIAL INSTITUTIONS.
new text end
new text begin
Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to banks and other financial institutions authorizes
the agent to:
new text end
new text begin
(1) continue, modify, and terminate an account or other banking arrangement made
by or on behalf of the principal;
new text end
new text begin
(2) establish, modify, and terminate an account or other banking arrangement with a
bank, trust company, savings and loan association, credit union, thrift company, brokerage
firm, or other financial institution selected by the agent;
new text end
new text begin
(3) contract for services available from a financial institution, including renting a
safe deposit box or space in a vault;
new text end
new text begin
(4) withdraw, by check, order, electronic funds transfer, or otherwise, money or
property of the principal deposited with or left in the custody of a financial institution;
new text end
new text begin
(5) receive statements of account, vouchers, notices, and similar documents from a
financial institution and act with respect to them;
new text end
new text begin
(6) enter a safe deposit box or vault and withdraw or add to the contents;
new text end
new text begin
(7) borrow money and pledge as security personal property of the principal necessary
to borrow money or pay, renew, or extend the time of payment of a debt of the principal or
a debt guaranteed by the principal;
new text end
new text begin
(8) make, assign, draw, endorse, discount, guarantee, and negotiate promissory
notes, checks, drafts, and other negotiable or nonnegotiable paper of the principal or
payable to the principal or the principal's order, transfer money, receive the cash or other
proceeds of those transactions, and accept a draft drawn by a person upon the principal
and pay it when due;
new text end
new text begin
(9) receive for the principal and act upon a sight draft, warehouse receipt, or other
document of title whether tangible or electronic, or other negotiable or nonnegotiable
instrument;
new text end
new text begin
(10) apply for, receive, and use letters of credit, credit and debit cards, electronic
transaction authorizations, and traveler's checks from a financial institution and give an
indemnity or other agreement in connection with letters of credit; and
new text end
new text begin
(11) consent to an extension of the time of payment with respect to commercial
paper or a financial transaction with a financial institution.
new text end
Sec. 32.
new text begin
[523A.209] OPERATION OF ENTITY OR BUSINESS.
new text end
new text begin
Subject to the terms of a document or an agreement governing an entity or an entity
ownership interest, and unless the power of attorney otherwise provides, language in a
power of attorney granting general authority with respect to operation of an entity or
business authorizes the agent to:
new text end
new text begin
(1) operate, buy, sell, enlarge, reduce, or terminate an ownership interest;
new text end
new text begin
(2) perform a duty or discharge a liability and exercise in person or by proxy a right,
power, privilege, or option that the principal has, may have, or claims to have;
new text end
new text begin
(3) enforce the terms of an ownership agreement;
new text end
new text begin
(4) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to litigation to which the principal is
a party because of an ownership interest;
new text end
new text begin
(5) exercise in person or by proxy, or enforce by litigation or otherwise, a right,
power, privilege, or option the principal has or claims to have as the holder of stocks
and bonds;
new text end
new text begin
(6) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to litigation to which the principal is a
party concerning stocks and bonds;
new text end
new text begin
(7) with respect to an entity or business owned solely by the principal:
new text end
new text begin
(i) continue, modify, renegotiate, extend, and terminate a contract made by or on
behalf of the principal with respect to the entity or business before execution of the
power of attorney;
new text end
new text begin
(ii) determine:
new text end
new text begin
(A) the location of its operation;
new text end
new text begin
(B) the nature and extent of its business;
new text end
new text begin
(C) the methods of manufacturing, selling, merchandising, financing, accounting,
and advertising employed in its operation;
new text end
new text begin
(D) the amount and types of insurance carried; and
new text end
new text begin
(E) the mode of engaging, compensating, and dealing with its employees and
accountants, attorneys, or other advisors;
new text end
new text begin
(iii) change the name or form of organization under which the entity or business is
operated and enter into an ownership agreement with other persons to take over all or part
of the operation of the entity or business; and
new text end
new text begin
(iv) demand and receive money due or claimed by the principal or on the principal's
behalf in the operation of the entity or business and control and disburse the money in the
operation of the entity or business;
new text end
new text begin
(8) put additional capital into an entity or business in which the principal has an
interest;
new text end
new text begin
(9) join in a plan of reorganization, consolidation, conversion, domestication, or
merger of the entity or business;
new text end
new text begin
(10) sell or liquidate all or part of an entity or business;
new text end
new text begin
(11) establish the value of an entity or business under a buyout agreement to which
the principal is a party;
new text end
new text begin
(12) prepare, sign, file, and deliver reports, compilations of information, returns, or
other papers with respect to an entity or business and make related payments; and
new text end
new text begin
(13) pay, compromise, or contest taxes, assessments, fines, or penalties and perform
any other act to protect the principal from illegal or unnecessary taxation, assessments,
fines, or penalties, with respect to an entity or business, including attempts to recover, in
any manner permitted by law, money paid before or after the execution of the power of
attorney.
new text end
Sec. 33.
new text begin
[523A.210] INSURANCE AND ANNUITIES.
new text end
new text begin
Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to insurance and annuities authorizes the agent to:
new text end
new text begin
(1) continue, pay the premium or make a contribution on, modify, exchange, rescind,
release, or terminate a contract procured by or on behalf of the principal which insures or
provides an annuity to either the principal or another person, whether or not the principal
is a beneficiary under the contract;
new text end
new text begin
(2) procure new, different, and additional contracts of insurance and annuities for the
principal and the principal's spouse, children, and other dependents, and select the amount,
type of insurance or annuity, and mode of payment;
new text end
new text begin
(3) pay the premium or make a contribution on, modify, exchange, rescind, release,
or terminate a contract of insurance or annuity procured by the agent;
new text end
new text begin
(4) apply for and receive a loan secured by a contract of insurance or annuity;
new text end
new text begin
(5) surrender and receive the cash surrender value on a contract of insurance or
annuity;
new text end
new text begin
(6) exercise an election;
new text end
new text begin
(7) exercise investment powers available under a contract of insurance or annuity;
new text end
new text begin
(8) change the manner of paying premiums on a contract of insurance or annuity;
new text end
new text begin
(9) change or convert the type of insurance or annuity with respect to which the
principal has or claims to have authority described in this section;
new text end
new text begin
(10) apply for and procure a benefit or assistance under a statute or regulation to
guarantee or pay premiums of a contract of insurance on the life of the principal;
new text end
new text begin
(11) collect, sell, assign, hypothecate, borrow against, or pledge the interest of the
principal in a contract of insurance or annuity;
new text end
new text begin
(12) select the form and timing of the payment of proceeds from a contract of
insurance or annuity; and
new text end
new text begin
(13) pay, from proceeds or otherwise, compromise or contest, and apply for refunds
in connection with, a tax or assessment levied by a taxing authority with respect to a
contract of insurance or annuity or its proceeds or liability accruing by reason of the
tax or assessment.
new text end
Sec. 34.
new text begin
[523A.211] ESTATES, TRUSTS, AND OTHER BENEFICIAL
INTERESTS.
new text end
new text begin
(a) In this section, "estate, trust, or other beneficial interest" means a trust, probate
estate, guardianship, conservatorship, escrow, or custodianship or a fund from which the
principal is, may become, or claims to be, entitled to a share or payment.
new text end
new text begin
(b) Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to estates, trusts, and other beneficial interests
authorizes the agent to:
new text end
new text begin
(1) accept, receive, receipt for, sell, assign, pledge, or exchange a share in or
payment from an estate, trust, or other beneficial interest;
new text end
new text begin
(2) demand or obtain money or another thing of value to which the principal is, may
become, or claims to be, entitled by reason of an estate, trust, or other beneficial interest,
by litigation or otherwise;
new text end
new text begin
(3) exercise for the benefit of the principal a presently exercisable general power of
appointment held by the principal;
new text end
new text begin
(4) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to litigation to ascertain the meaning,
validity, or effect of a deed, will, declaration of trust, or other instrument or transaction
affecting the interest of the principal;
new text end
new text begin
(5) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to litigation to remove, substitute, or
surcharge a fiduciary;
new text end
new text begin
(6) conserve, invest, disburse, or use anything received for an authorized purpose;
new text end
new text begin
(7) transfer an interest of the principal in real property, stocks and bonds, accounts
with financial institutions or securities intermediaries, insurance, annuities, and other
property to the trustee of a revocable trust created by the principal as settlor; and
new text end
new text begin
(8) reject, renounce, disclaim, release, or consent to a reduction in or modification of
a share in or payment from an estate, trust, or other beneficial interest.
new text end
Sec. 35.
new text begin
[523A.212] CLAIMS AND LITIGATION.
new text end
new text begin
Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to claims and litigation authorizes the agent to:
new text end
new text begin
(1) assert and maintain before a court or administrative agency a claim, claim for
relief, cause of action, counterclaim, offset, recoupment, or defense, including an action
to recover property or other thing of value, recover damages sustained by the principal,
eliminate or modify tax liability, or seek an injunction, specific performance, or other relief;
new text end
new text begin
(2) bring an action to determine adverse claims or intervene or otherwise participate
in litigation;
new text end
new text begin
(3) seek an attachment, garnishment, order of arrest, or other preliminary,
provisional, or intermediate relief and use an available procedure to effect or satisfy a
judgment, order, or decree;
new text end
new text begin
(4) make or accept a tender, offer of judgment, or admission of facts, submit
a controversy on an agreed statement of facts, consent to examination, and bind the
principal in litigation;
new text end
new text begin
(5) submit to alternative dispute resolution, settle, and propose or accept a
compromise;
new text end
new text begin
(6) waive the issuance and service of process upon the principal, accept service of
process, appear for the principal, designate persons upon which process directed to the
principal may be served, execute and file or deliver stipulations on the principal's behalf,
verify pleadings, seek appellate review, procure and give surety and indemnity bonds,
contract and pay for the preparation and printing of records and briefs, receive, execute,
and file or deliver a consent, waiver, release, confession of judgment, satisfaction of
judgment, notice, agreement, or other instrument in connection with the prosecution,
settlement, or defense of a claim or litigation;
new text end
new text begin
(7) act for the principal with respect to bankruptcy or insolvency, whether voluntary
or involuntary, concerning the principal or some other person, or with respect to a
reorganization, receivership, or application for the appointment of a receiver or trustee
which affects an interest of the principal in property or other thing of value;
new text end
new text begin
(8) pay a judgment, award, or order against the principal or a settlement made in
connection with a claim or litigation; and
new text end
new text begin
(9) receive money or other thing of value paid in settlement of or as proceeds of a
claim or litigation.
new text end
Sec. 36.
new text begin
[523A.213] PERSONAL AND FAMILY MAINTENANCE.
new text end
new text begin
(a) Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to personal and family maintenance authorizes the
agent to:
new text end
new text begin
(1) perform the acts necessary to maintain the customary standard of living of the
principal, the principal's spouse, and the following individuals, whether living when the
power of attorney is executed or later born:
new text end
new text begin
(i) the principal's children;
new text end
new text begin
(ii) other individuals legally entitled to be supported by the principal; and
new text end
new text begin
(iii) the individuals whom the principal has customarily supported or indicated
the intent to support;
new text end
new text begin
(2) make periodic payments of child support and other family maintenance required
by a court or governmental agency or an agreement to which the principal is a party;
new text end
new text begin
(3) provide living quarters for the individuals described in clause (1) by:
new text end
new text begin
(i) purchase, lease, or other contract; or
new text end
new text begin
(ii) paying the operating costs, including interest, amortization payments, repairs,
improvements, and taxes, for premises owned by the principal or occupied by those
individuals;
new text end
new text begin
(4) provide normal domestic help, usual vacations and travel expenses, and funds
for shelter, clothing, food, appropriate education, including postsecondary and vocational
education, and other current living costs for the individuals described in clause (1);
new text end
new text begin
(5) pay expenses for necessary health care and custodial care on behalf of the
individuals described in clause (1);
new text end
new text begin
(6) act as the principal's personal representative pursuant to the Health Insurance
Portability and Accountability Act, sections 1171 through 1179 of the Social Security
Act, United States Code, title 42, section 1320d, and applicable regulations, in making
decisions related to the past, present, or future payment for the provision of health care
consented to by the principal or anyone authorized under the law of this state to consent
to health care on behalf of the principal;
new text end
new text begin
(7) continue any provision made by the principal for automobiles or other means
of transportation, including registering, licensing, insuring, and replacing them, for the
individuals described in clause (1);
new text end
new text begin
(8) maintain credit and debit accounts for the convenience of the individuals
described in clause (1) and open new accounts; and
new text end
new text begin
(9) continue payments incidental to the membership or affiliation of the principal in a
religious institution, club, society, order, or other organization or to continue contributions
to those organizations.
new text end
new text begin
(b) Authority with respect to personal and family maintenance is neither dependent
upon, nor limited by, authority that an agent may or may not have with respect to gifts
under this chapter.
new text end
Sec. 37.
new text begin
[523A.214] BENEFITS FROM GOVERNMENTAL PROGRAMS OR
CIVIL OR MILITARY SERVICE.
new text end
new text begin
(a) In this section, "benefits from governmental programs or civil or military service"
means any benefit, program, or assistance provided under a statute or regulation including
Social Security, Medicare, and Medicaid.
new text end
new text begin
(b) Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to benefits from governmental programs or civil or
military service authorizes the agent to:
new text end
new text begin
(1) execute vouchers in the name of the principal for allowances and reimbursements
payable by the United States or a foreign government or by a state or subdivision of a
state to the principal, including allowances and reimbursements for transportation of the
individuals described in section 523A.213, paragraph (a), clause (1), and for shipment of
their household effects;
new text end
new text begin
(2) take possession and order the removal and shipment of property of the principal
from a post, warehouse, depot, dock, or other place of storage or safekeeping, either
governmental or private, and execute and deliver a release, voucher, receipt, bill of lading,
shipping ticket, certificate, or other instrument for that purpose;
new text end
new text begin
(3) enroll in, apply for, select, reject, change, amend, or discontinue, on the
principal's behalf, a benefit or program;
new text end
new text begin
(4) prepare, file, and maintain a claim of the principal for a benefit or assistance,
financial or otherwise, to which the principal may be entitled under a statute or regulation;
new text end
new text begin
(5) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to litigation concerning any benefit or
assistance the principal may be entitled to receive under a statute or regulation; and
new text end
new text begin
(6) receive the financial proceeds of a claim described in clause (4) and conserve,
invest, disburse, or use for a lawful purpose anything so received.
new text end
Sec. 38.
new text begin
[523A.215] RETIREMENT PLANS.
new text end
new text begin
(a) In this section, "retirement plan" means a plan or account created by an employer,
the principal, or another individual to provide retirement benefits or deferred compensation
of which the principal is a participant, beneficiary, or owner, including a plan or account
under the following sections of the Internal Revenue Code:
new text end
new text begin
(1) an individual retirement account under section 408 of the Internal Revenue Code,
United States Code, title 26, section 408;
new text end
new text begin
(2) a Roth individual retirement account under section 408A of the Internal Revenue
Code, United States Code, title 26, section 408A;
new text end
new text begin
(3) a deemed individual retirement account under section 408(q) of the Internal
Revenue Code, United States Code, title 26, section 408(q);
new text end
new text begin
(4) an annuity or mutual fund custodial account under section 403(b) of the Internal
Revenue Code, United States Code, title 26, section 403(b);
new text end
new text begin
(5) a pension, profit-sharing, stock bonus, or other retirement plan qualified under
section 401(a) of the Internal Revenue Code, United States Code, title 26, section 401(a);
new text end
new text begin
(6) a plan under section 457(b) of the Internal Revenue Code, United States Code,
title 26, section 457(b); and
new text end
new text begin
(7) a nonqualified deferred compensation plan under section 409A of the Internal
Revenue Code, United States Code, title 26, section 409A.
new text end
new text begin
(b) Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to retirement plans authorizes the agent to:
new text end
new text begin
(1) select the form and timing of payments under a retirement plan and withdraw
benefits from a plan;
new text end
new text begin
(2) make a rollover, including a direct trustee-to-trustee rollover, of benefits from
one retirement plan to another;
new text end
new text begin
(3) establish a retirement plan in the principal's name;
new text end
new text begin
(4) make contributions to a retirement plan;
new text end
new text begin
(5) exercise investment powers available under a retirement plan; and
new text end
new text begin
(6) borrow from, sell assets to, or purchase assets from a retirement plan.
new text end
Sec. 39.
new text begin
[523A.216] TAXES.
new text end
new text begin
Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to taxes authorizes the agent to:
new text end
new text begin
(1) prepare, sign, and file federal, state, local, and foreign income, gift, payroll,
property, Federal Insurance Contributions Act, and other tax returns, claims for refunds,
requests for extension of time, petitions regarding tax matters, and any other tax-related
documents, including receipts, offers, waivers, consents, including consents and
agreements under section 2032A of the Internal Revenue Code, United States Code, title
26, section 2032A, closing agreements, and any power of attorney required by the Internal
Revenue Service or other taxing authority with respect to a tax year upon which the statute
of limitations has not run and the following 25 tax years;
new text end
new text begin
(2) pay taxes due, collect refunds, post bonds, receive confidential information, and
contest deficiencies determined by the Internal Revenue Service or other taxing authority;
new text end
new text begin
(3) exercise any election available to the principal under federal, state, local, or
foreign tax law; and
new text end
new text begin
(4) act for the principal in all tax matters for all periods before the Internal Revenue
Service, or other taxing authority.
new text end
Sec. 40.
new text begin
[523A.217] GIFTS.
new text end
new text begin
(a) In this section, a gift "for the benefit of" a person includes a gift to a trust, an
account under the Uniform Transfers to Minors Act, and a tuition savings account or
prepaid tuition plan as defined under section 529 of the Internal Revenue Code, United
States Code, title 26, section 529.
new text end
new text begin
(b) Unless the power of attorney otherwise provides, language in a power of attorney
granting general authority with respect to gifts authorizes the agent only to:
new text end
new text begin
(1) make outright to, or for the benefit of, a person, a gift of any of the principal's
property, including by the exercise of a presently exercisable general power of appointment
held by the principal, in an amount per donee not to exceed the annual dollar limits
of the federal gift tax exclusion under section 2503(b) of the Internal Revenue Code,
United States Code, title 26, section 2503(b), without regard to whether the federal gift
tax exclusion applies to the gift, or if the principal's spouse agrees to consent to a split
gift pursuant to section 2513 of the Internal Revenue Code, United States Code, title
26, section 2513, in an amount per donee not to exceed twice the annual federal gift
tax exclusion limit; and
new text end
new text begin
(2) consent, pursuant to section 2513 of the Internal Revenue Code, United States
Code, title 26, section 2513, to the splitting of a gift made by the principal's spouse in an
amount per donee not to exceed the aggregate annual gift tax exclusions for both spouses.
new text end
new text begin
(c) An agent may make a gift of the principal's property only as the agent determines
is consistent with the principal's objectives if actually known by the agent and, if unknown,
as the agent determines is consistent with the principal's best interest based on all relevant
factors, including:
new text end
new text begin
(1) the value and nature of the principal's property;
new text end
new text begin
(2) the principal's foreseeable obligations and need for maintenance;
new text end
new text begin
(3) minimization of taxes, including income, estate, inheritance, generation-skipping
transfer, and gift taxes;
new text end
new text begin
(4) eligibility for a benefit, a program, or assistance under a statute or regulation; and
new text end
new text begin
(5) the principal's personal history of making or joining in making gifts.
new text end
Sec. 41.
new text begin
[523A.301] STATUTORY FORM POWER OF ATTORNEY.
new text end
new text begin
A document substantially in the following form may be used to create a statutory
form power of attorney that has the meaning and effect prescribed by this chapter.
new text end
new text begin
MINNESOTA
new text end
new text begin
STATUTORY FORM POWER OF ATTORNEY
new text end
new text begin
IMPORTANT INFORMATION
new text end
new text begin
This power of attorney authorizes another person (your agent) to make decisions
concerning your property for you (the principal). Your agent will be able to make
decisions and act with respect to your property (including your money) whether or not you
are able to act for yourself. The meaning of authority over subjects listed on this form is
explained in the Uniform Power of Attorney Act, Minnesota Statutes, chapter 523A.
new text end
new text begin
This power of attorney does not authorize the agent to make health care decisions for you.
new text end
new text begin
You should select someone you trust to serve as your agent. Unless you specify otherwise,
generally the agent's authority will continue until you die or revoke the power of attorney
or the agent resigns or is unable to act for you.
new text end
new text begin
Your agent is entitled to reasonable compensation unless you state otherwise in the
Special Instructions.
new text end
new text begin
This form provides for designation of one agent. If you wish to name more than one agent
you may name a co-agent in the Special Instructions. Co-agents are not required to act
together unless you include that requirement in the Special Instructions.
new text end
new text begin
If your agent is unable or unwilling to act for you, your power of attorney will end unless
you have named a successor agent. You may also name a second successor agent.
new text end
new text begin
This power of attorney becomes effective immediately unless you state otherwise in
the Special Instructions.
new text end
new text begin
If you have questions about the power of attorney or the authority you are granting
to your agent, you should seek legal advice before signing this form.
new text end
new text begin
DESIGNATION OF AGENT
new text end
new text begin
I
_
name the following person as my agent:
new text end
new text begin
(Name of Principal)
new text end
new text begin
Name of Agent:
_
new text end
new text begin
Agent's Address:
_
new text end
new text begin
Agent's Telephone Number:
_
new text end
new text begin
DESIGNATION OF SUCCESSOR AGENT(S) (OPTIONAL)
new text end
new text begin
If my agent is unable or unwilling to act for me, I name as my successor agent:
new text end
new text begin
Name of Successor Agent:
_
new text end
new text begin
Successor Agent's Address:
_
new text end
new text begin
Successor Agent's Telephone Number:
_
new text end
new text begin
If my successor agent is unable or unwilling to act for me, I name as my second successor
agent:
new text end
new text begin
Name of Second Successor Agent:
_
new text end
new text begin
Second Successor Agent's Address:
_
new text end
new text begin
Second Successor Agent's Telephone Number:
_
new text end
new text begin
GRANT OF GENERAL AUTHORITY
new text end
new text begin
I grant my agent and any successor agent general authority to act for me with respect
to the following subjects as defined in the Uniform Power of Attorney Act, Minnesota
Statutes, chapter 523A:
new text end
new text begin
(INITIAL each subject you want to include in the agent's general authority. If you wish to
grant general authority over all of the subjects you may initial "All Preceding Subjects"
instead of initialing each subject.)
new text end
new text begin
(
_
)
new text end
new text begin
Real Property
new text end
new text begin
(
_
)
new text end
new text begin
Tangible Personal Property
new text end
new text begin
(
_
)
new text end
new text begin
Stocks and Bonds
new text end
new text begin
(
_
)
new text end
new text begin
Commodities and Options
new text end
new text begin
(
_
)
new text end
new text begin
Banks and Other Financial Institutions
new text end
new text begin
(
_
)
new text end
new text begin
Operation of Entity or Business
new text end
new text begin
(
_
)
new text end
new text begin
Insurance and Annuities
new text end
new text begin
(
_
)
new text end
new text begin
Estates, Trusts, and Other Beneficial Interests
new text end
new text begin
(
_
)
new text end
new text begin
Claims and Litigation
new text end
new text begin
(
_
)
new text end
new text begin
Personal and Family Maintenance
new text end
new text begin
(
_
)
new text end
new text begin
Benefits from Governmental Programs or Civil or Military Service
new text end
new text begin
(
_
)
new text end
new text begin
Retirement Plans
new text end
new text begin
(
_
)
new text end
new text begin
Taxes
new text end
new text begin
(
_
)
new text end
new text begin
All Preceding Subjects
new text end
new text begin
GRANT OF SPECIFIC AUTHORITY (OPTIONAL)
new text end
new text begin
My agent MAY NOT do any of the following specific acts for me UNLESS I have
INITIALED the specific authority listed below:
new text end
new text begin
(CAUTION: Granting any of the following will give your agent the authority to take
actions that could significantly reduce your property or change how your property is
distributed at your death. INITIAL ONLY the specific authority you WANT to give
your agent.)
new text end
new text begin
(
_
)
new text end
new text begin
Create, amend, revoke, or terminate an inter vivos trust
new text end
new text begin
(
_
)
new text end
new text begin
Make a gift, subject to the limitations of the Uniform Power of Attorney Act,
Minnesota Statutes, section 523A.217, and any special instructions in this power
of attorney
new text end
new text begin
(
_
)
new text end
new text begin
Create or change rights of survivorship
new text end
new text begin
(
_
)
new text end
new text begin
Create or change a beneficiary designation
new text end
new text begin
(
_
)
new text end
new text begin
Authorize another person to exercise the authority granted under this power of
attorney
new text end
new text begin
(
_
)
new text end
new text begin
Waive the principal's right to be a beneficiary of a joint and survivor annuity,
including a survivor benefit under a retirement plan
new text end
new text begin
(
_
)
new text end
new text begin
Exercise fiduciary powers that the principal has authority to delegate
new text end
new text begin
[(
_
)
new text end
new text begin
Disclaim or refuse an interest in property, including a power of appointment]
new text end
new text begin
LIMITATION ON AGENT'S AUTHORITY
new text end
new text begin
An agent that is not my ancestor, spouse, or descendant MAY NOT use my property to
benefit the agent or a person to whom the agent owes an obligation of support unless I
have included that authority in the Special Instructions.
new text end
new text begin
SPECIAL INSTRUCTIONS (optional)
new text end
new text begin
You may give special instructions on the following lines:
new text end
new text begin
_
new text end
new text begin
_
new text end
new text begin
EFFECTIVE DATE
new text end
new text begin
This power of attorney is effective immediately unless I have stated otherwise in the
Special Instructions.
new text end
new text begin
NOMINATION OF CONSERVATOR OR GUARDIAN (OPTIONAL)
new text end
new text begin
If it becomes necessary for a court to appoint a conservator or guardian of my estate or
guardian of my person, I nominate the following person(s) for appointment:
new text end
new text begin
Name of Nominee for conservator or guardian of my estate:
_
new text end
new text begin
Nominee's Address:
_
new text end
new text begin
Nominee's Telephone Number:
_
new text end
new text begin
Name of Nominee for guardian of my person:
_
new text end
new text begin
Nominee's Address:
_
new text end
new text begin
Nominee's Telephone Number:
_
new text end
new text begin
RELIANCE ON THIS POWER OF ATTORNEY
new text end
new text begin
Any person, including my agent, may rely upon the validity of this power of attorney or a
copy of it unless that person knows it has terminated or is invalid.
new text end
new text begin
SIGNATURE AND ACKNOWLEDGMENT
new text end
new text begin
_
new text end
new text begin
_
new text end
new text begin
Your Signature
new text end
new text begin
Date
new text end
new text begin
_
new text end
new text begin
Your Name Printed
new text end
new text begin
_
new text end
new text begin
_
new text end
new text begin
Your Address
new text end
new text begin
_
new text end
new text begin
Your Telephone Number
new text end
new text begin
State of
_
new text end
new text begin
[County] of
_
new text end
new text begin
This document was acknowledged before me on
new text end
new text begin
_
,
new text end
new text begin
(Date)
new text end
new text begin
by
_
.
new text end
new text begin
(Name of Principal)
new text end
new text begin
_
new text end
new text begin
(Seal, if any)
new text end
new text begin
Signature of Notary
new text end
new text begin
My commission expires:
_
new text end
new text begin
(This document prepared by:
new text end
new text begin
_
new text end
new text begin
_
)
new text end
new text begin
IMPORTANT INFORMATION FOR AGENT
new text end
new text begin
Agent's Duties
new text end
new text begin
When you accept the authority granted under this power of attorney, a special legal
relationship is created between you and the principal. This relationship imposes upon
you legal duties that continue until you resign or the power of attorney is terminated or
revoked. You must:
new text end
new text begin
(1)
new text end
new text begin
do what you know the principal reasonably expects you to do with the principal's
property or, if you do not know the principal's expectations, act in the principal's
best interest;
new text end
new text begin
(2)
new text end
new text begin
act in good faith;
new text end
new text begin
(3)
new text end
new text begin
do nothing beyond the authority granted in this power of attorney; and
new text end
new text begin
(4)
new text end
new text begin
disclose your identity as an agent whenever you act for the principal by writing
or printing the name of the principal and signing your own name as "agent" in
the following manner:
new text end
new text begin
_
by
new text end
new text begin
_
as Agent
new text end
new text begin
(Principal's Name)
new text end
new text begin
(Your Signature)
new text end
new text begin
Unless the Special Instructions in this power of attorney state otherwise, you must also:
new text end
new text begin
(1)
new text end
new text begin
act loyally for the principal's benefit;
new text end
new text begin
(2)
new text end
new text begin
avoid conflicts that would impair your ability to act in the principal's best interest;
new text end
new text begin
(3)
new text end
new text begin
act with care, competence, and diligence;
new text end
new text begin
(4)
new text end
new text begin
keep a record of all receipts, disbursements, and transactions made on behalf of
the principal;
new text end
new text begin
(5)
new text end
new text begin
cooperate with any person that has authority to make health care decisions for the
principal to do what you know the principal reasonably expects or, if you do not
know the principal's expectations, to act in the principal's best interest; and
new text end
new text begin
(6)
new text end
new text begin
attempt to preserve the principal's estate plan if you know the plan and preserving
the plan is consistent with the principal's best interest.
new text end
new text begin
Termination of Agent's Authority
new text end
new text begin
You must stop acting on behalf of the principal if you learn of any event that terminates
this power of attorney or your authority under this power of attorney. Events that terminate
a power of attorney or your authority to act under a power of attorney include:
new text end
new text begin
(1)
new text end
new text begin
death of the principal;
new text end
new text begin
(2)
new text end
new text begin
the principal's revocation of the power of attorney or your authority;
new text end
new text begin
(3)
new text end
new text begin
the occurrence of a termination event stated in the power of attorney;
new text end
new text begin
(4)
new text end
new text begin
the purpose of the power of attorney is fully accomplished; or
new text end
new text begin
(5)
new text end
new text begin
if you are married to the principal, a legal action is filed with a court to end your
marriage, or for your legal separation, unless the Special Instructions in this power
of attorney state that such an action will not terminate your authority.
new text end
new text begin
Liability of Agent
new text end
new text begin
The meaning of the authority granted to you is defined in the Uniform Power of Attorney
Act, Minnesota Statutes, chapter 523A. If you violate the Uniform Power of Attorney Act,
Minnesota Statutes, chapter 523A, or act outside the authority granted, you may be liable
for any damages caused by your violation.
new text end
new text begin
If there is anything about this document or your duties that you do not understand,
you should seek legal advice.
new text end
Sec. 42.
new text begin
[523A.302] AGENT'S CERTIFICATION.
new text end
new text begin
The following optional form may be used by an agent to certify facts concerning a
power of attorney.
new text end
new text begin
AGENT'S CERTIFICATION AS TO THE VALIDITY OF POWER OF
ATTORNEY AND AGENT'S AUTHORITY
new text end
new text begin
State of
_
new text end
new text begin
[County] of
_
new text end
new text begin
I, _________________ (Name of Agent), certify under penalty of perjury that
_______________ (Name of Principal) granted me authority as an agent or successor
agent in a power of attorney dated ______________.
new text end
new text begin
I further certify that to my knowledge:
new text end
new text begin
(1) the Principal is alive and has not revoked the Power of Attorney or my authority
to act under the Power of Attorney and the Power of Attorney and my authority to act
under the Power of Attorney have not terminated;
new text end
new text begin
(2) if the Power of Attorney was drafted to become effective upon the happening of
an event or contingency, the event or contingency has occurred;
new text end
new text begin
(3) if I was named as a successor agent, the prior agent is no longer able or willing
to serve; and
new text end
new text begin
(4)
new text end
new text begin
_
new text end
new text begin
(Insert other relevant statements)
new text end
new text begin
SIGNATURE AND ACKNOWLEDGMENT
new text end
new text begin
_
new text end
new text begin
_
new text end
new text begin
Agent's Signature
new text end
new text begin
Date
new text end
new text begin
_
new text end
new text begin
Agent's Name Printed
new text end
new text begin
_
new text end
new text begin
_
new text end
new text begin
Agent's Address
new text end
new text begin
_
new text end
new text begin
Agent's Telephone Number
new text end
new text begin
This document was acknowledged before me on
_
,
new text end
new text begin
(Date)
new text end
new text begin
by
_
.
new text end
new text begin
(Name of Agent)
new text end
new text begin
_
new text end
new text begin
(Seal, if any)
new text end
new text begin
Signature of Notary
new text end
new text begin
My commission expires:
new text end
new text begin
_
new text end
new text begin
(This document prepared by:
new text end
new text begin
_
)
new text end
Sec. 43.
new text begin
[523A.401] UNIFORMITY OF APPLICATION AND CONSTRUCTION.
new text end
new text begin
In applying and construing this uniform act, consideration must be given to the
need to promote uniformity of the law with respect to its subject matter among the states
that enact it.
new text end
Sec. 44.
new text begin
[523A.402] RELATION TO ELECTRONIC SIGNATURES IN GLOBAL
AND NATIONAL COMMERCE ACT.
new text end
new text begin
This chapter modifies, limits, and supersedes the federal Electronic Signatures in
Global and National Commerce Act, United States Code, title 15, section 7001, et seq.,
but does not modify, limit, or supersede section 101(c) of that act, United States Code,
title 15, section 7001(c), or authorize electronic delivery of any of the notices described in
section 103(b) of that act, United States Code, title 15, section 7003(b).
new text end
Sec. 45.
new text begin
[523A.403] EFFECT ON EXISTING POWERS OF ATTORNEY.
new text end
new text begin
Except as otherwise provided in this chapter, on January 1, 2010:
new text end
new text begin
(1) this chapter applies to a power of attorney created before, on, or after January
1, 2010;
new text end
new text begin
(2) this chapter applies to a judicial proceeding concerning a power of attorney
commenced on or after January 1, 2010;
new text end
new text begin
(3) this chapter applies to a judicial proceeding concerning a power of attorney
commenced before January 1, 2010, unless the court finds that application of a provision
of this chapter would substantially interfere with the effective conduct of the judicial
proceeding or prejudice the rights of a party, in which case that provision does not apply
and the superseded law applies; and
new text end
new text begin
(4) an act done before January 1, 2010, is not affected by this chapter.
new text end
Sec. 46. new text begin REPEALER.
new text end
new text begin
Minnesota Statutes 2008, sections 523.01; 523.02; 523.03; 523.04; 523.05; 523.06;
523.07; 523.075; 523.08; 523.09; 523.10; 523.11; 523.12; 523.13; 523.131; 523.14;
523.15; 523.16; 523.17; 523.18; 523.19; 523.20; 523.21; 523.22; 523.23; and 523.24,
new text end
new text begin
are
repealed.
new text end
Sec. 47. new text begin EFFECTIVE DATE.
new text end
new text begin
This article is effective January 1, 2010.
new text end
ARTICLE 5
UNIFORM MULTIPLE-PERSON ACCOUNTS ACT
Section 1.
new text begin
[524A.101] NONPROBATE TRANSFERS ON DEATH.
new text end
new text begin
(a) A provision for a nonprobate transfer on death in an insurance policy, contract
of employment, bond, mortgage, promissory note, certificated or uncertificated security,
account agreement, custodial agreement, deposit agreement, compensation plan, pension
plan, individual retirement plan, employee benefit plan, trust, conveyance, deed of
gift, marital property agreement, or other written instrument of a similar nature is
nontestamentary. This paragraph includes a written provision that:
new text end
new text begin
(1) money or other benefits due to, controlled by, or owned by a decedent before
death must be paid after the decedent's death to a person whom the decedent designates
either in the instrument or in a separate writing, including a will, executed either before or
at the same time as the instrument, or later;
new text end
new text begin
(2) money due or to become due under the instrument ceases to be payable in the
event of death of the promisee or the promisor before payment or demand; or
new text end
new text begin
(3) any property controlled by or owned by the decedent before death which is
the subject of the instrument passes to a person the decedent designates either in the
instrument or in a separate writing, including a will, executed either before or at the same
time as the instrument, or later.
new text end
new text begin
(b) This section does not limit rights of creditors under other laws of this state.
new text end
Sec. 2.
new text begin
[524A.102] LIABILITY OF NONPROBATE TRANSFEREES FOR
CREDITOR CLAIMS AND STATUTORY ALLOWANCES.
new text end
new text begin
(a) In this section, "nonprobate transfer" means a valid transfer effective at death,
other than a transfer of a survivorship interest in a joint tenancy of real estate, by a
transferor whose last domicile was in this state to the extent that the transferor immediately
before death had power, acting alone, to prevent the transfer by revocation or withdrawal
and instead to use the property for the benefit of the transferor or apply it to discharge
claims against the transferor's probate estate.
new text end
new text begin
(b) Except as otherwise provided by statute, a transferee of a nonprobate transfer
is subject to liability to any probate estate of the decedent for allowed claims against
decedent's probate that estate and statutory allowances to the decedent's spouse and
children to the extent the estate is insufficient to satisfy those claims and allowances. The
liability of a nonprobate transferee may not exceed the value of nonprobate transfers
received or controlled by that transferee.
new text end
new text begin
(c) Nonprobate transferees are liable for the insufficiency described in paragraph (b)
in the following order of priority:
new text end
new text begin
(1) a transferee designated in the decedent's will or any other governing instrument,
as provided in the instrument;
new text end
new text begin
(2) the trustee of a trust serving as the principal nonprobate instrument in the
decedent's estate plan as shown by its designation as devisee of the decedent's residuary
estate or by other facts or circumstances, to the extent of the value of the nonprobate
transfer received or controlled; and
new text end
new text begin
(3) other nonprobate transferees, in proportion to the values received.
new text end
new text begin
(d) Unless otherwise provided by the trust instrument, interests of beneficiaries in all
trusts incurring liabilities under this section abate as necessary to satisfy the liability, as if
all of the trust instruments were a single will and the interests were devises under it.
new text end
new text begin
(e) A provision made in one instrument may direct the apportionment of the liability
among the nonprobate transferees taking under that or any other governing instrument. If
a provision in one instrument conflicts with a provision in another, the later one prevails.
new text end
new text begin
(f) Upon due notice to a nonprobate transferee, the liability imposed by this section is
enforceable in proceedings in this state, whether or not the transferee is located in this state.
new text end
new text begin
(g) A proceeding under this section may not be commenced unless the personal
representative of the decedent's estate has received a written demand for the proceeding
from the surviving spouse or a child, to the extent that statutory allowances are affected,
or a creditor. If the personal representative declines or fails to commence a proceeding
after demand, a person making demand may commence the proceeding in the name of the
decedent's estate, at the expense of the person making the demand and not of the estate. A
personal representative who declines in good faith to commence a requested proceeding
incurs no personal liability for declining.
new text end
new text begin
(h) A proceeding under this section must be commenced within one year after the
decedent's death, but a proceeding on behalf of a creditor whose claim was allowed after
proceedings challenging disallowance of the claim may be commenced within 60 days
after final allowance of the claim.
new text end
new text begin
(i) Unless a written notice asserting that a decedent's probate estate is nonexistent or
insufficient to pay allowed claims and statutory allowances has been received from the
decedent's personal representative, the following rules apply:
new text end
new text begin
(1) Payment or delivery of assets by a financial institution, registrar, or other obligor,
to a nonprobate transferee in accordance with the terms of the governing instrument
controlling the transfer releases the obligor from all claims for amounts paid or assets
delivered.
new text end
new text begin
(2) A trustee receiving or controlling a nonprobate transfer is released from liability
under this section with respect to any assets distributed to the trust's beneficiaries. Each
beneficiary to the extent of the distribution received becomes liable for the amount of the
trustee's liability attributable to assets received by the beneficiary.
new text end
Sec. 3.
new text begin
[524A.201] DEFINITIONS.
new text end
new text begin
(a) The definitions in this section apply to this chapter.
new text end
new text begin
(b) "Account" means a contract of deposit between a depositor and a financial
institution, and includes a checking account, savings account, certificate of deposit, and
share account.
new text end
new text begin
(c) "Agent" means a person authorized to make account transactions for a party.
new text end
new text begin
(d) "Beneficiary" means a person named as one to whom sums on deposit in an
account are payable on request after death of all parties or for whom a party is named
as trustee.
new text end
new text begin
(e) "Devisee" means a person designated in a will to receive a testamentary
disposition of real or personal property.
new text end
new text begin
(f) "Financial institution" means an organization authorized to do business under
state or federal laws relating to financial institutions, and includes a bank, trust company,
savings bank, building and loan association, savings and loan company or association,
and credit union.
new text end
new text begin
(g) "Heirs" means those persons, including surviving spouse, who are entitled under
the statutes of intestate succession to the property of a decedent.
new text end
new text begin
(h) "Multiple-party account" means an account payable on request to one or more of
two or more parties, whether or not a right of survivorship is mentioned.
new text end
new text begin
(i) "Party" means a person who, by the terms of an account, has a present right,
subject to request, to payment from the account other than as a beneficiary or agent.
new text end
new text begin
(j) "Payment" of sums on deposit includes withdrawal, payment to a party or third
person pursuant to check or other request, and a pledge of sums on deposit by a party, or a
set-off, reduction, or other disposition of all or part of an account pursuant to a pledge.
new text end
new text begin
(k) "Person" means an individual, a corporation, an organization, or other legal entity.
new text end
new text begin
(l) "Personal representative" includes executor, administrator, successor personal
representative, special administrator, and persons who perform substantially the same
function under the law governing their status.
new text end
new text begin
(m) "POD designation" means the designation of:
new text end
new text begin
(1) a beneficiary in an account payable on request to one party during the party's
lifetime and on the party's death to one or more beneficiaries, or to one or more parties
during their lifetimes and on death of all of them to one or more beneficiaries; or
new text end
new text begin
(2) a beneficiary in an account in the name of one or more parties as trustee for one
or more beneficiaries if the relationship is established by the terms of the account and
there is no subject of the trust other than the sums on deposit in the account, whether or
not payment to the beneficiary is mentioned.
new text end
new text begin
(n) "Receive," as it relates to notice to a financial institution, means receipt in the
office or branch office of the financial institution in which the account is established, but if
the terms of the account require notice at a particular place, in the place required.
new text end
new text begin
(o) "Request" means a request for payment complying with all terms of the account,
including special requirements concerning necessary signatures and regulations of the
financial institution; but, for purposes of this chapter, if terms of the account condition
payment on advance notice, a request for payment is treated as immediately effective and
a notice of intent to withdraw is treated as a request for payment.
new text end
new text begin
(p) "State" includes any state of the United States, the District of Columbia, the
Commonwealth of Puerto Rico, and any territory or possession subject to the legislative
authority of the United States.
new text end
new text begin
(q) "Successors" means those persons, other than creditors, who are entitled to
property of a decedent under the decedent's will or otherwise.
new text end
new text begin
(r) "Sums on deposit" means the balance payable on an account, including interest
and dividends earned, whether or not included in the current balance, and any deposit life
insurance proceeds added to the account by reason of death of a party.
new text end
new text begin
(s) "Terms of the account" includes the deposit agreement and other terms and
conditions, including the form, of the contract of deposit.
new text end
Sec. 4.
new text begin
[524A.202] SCOPE OF CHAPTER.
new text end
new text begin
(a) This chapter applies to accounts in this state.
new text end
new text begin
(b) This chapter does not apply to:
new text end
new text begin
(1) an account established for a partnership, joint venture, or other organization
for a business purpose;
new text end
new text begin
(2) an account controlled by one or more persons as an agent or trustee for a
corporation, unincorporated association, or charitable or civic organization; or
new text end
new text begin
(3) a fiduciary or trust account in which the relationship is established other than by
the terms of the account.
new text end
Sec. 5.
new text begin
[524A.203] TYPES OF ACCOUNT; EXISTING ACCOUNTS.
new text end
new text begin
(a) An account may be for a single party or multiple parties. A multiple-party
account may be with or without a right of survivorship between the parties. Subject to
section 524A.12, paragraph (c), either a single-party account or a multiple-party account
may have a POD designation, an agency designation, or both.
new text end
new text begin
(b) An account established before, on, or after the effective date of this chapter,
whether in the form prescribed in section 524A.104 or any other form, is either a
single-party account or a multiple-party account, with or without right of survivorship,
and with or without a POD designation or an agency designation, within the meaning of
this chapter, and is governed by this chapter.
new text end
Sec. 6.
new text begin
[524A.204] FORMS.
new text end
new text begin
(a) A contract of deposit that contains provisions in substantially the following form
establishes the type of account provided, and the account is governed by the provisions of
this chapter applicable to an account of that type:
new text end
new text begin
UNIFORM SINGLE- OR MULTIPLE-PARTY ACCOUNT FORM
new text end
new text begin
PARTIES [Name One or More Parties]:
new text end
_
_
.
new text begin
OWNERSHIP [Select One And Initial]:
new text end
_
new text begin
SINGLE-PARTY ACCOUNT
new text end
_
new text begin
MULTIPLE-PARTY ACCOUNT
new text end
new text begin
Parties own account in proportion to net contributions unless there is
clear and convincing evidence of a different intent.
new text end
new text begin
RIGHTS AT DEATH [Select One And Initial]:
new text end
_
new text begin
SINGLE-PARTY ACCOUNT
new text end
new text begin
At death of party, ownership passes as part of party's estate.
new text end
_
new text begin
SINGLE-PARTY ACCOUNT WITH POD (PAY ON DEATH)
new text end
new text begin
DESIGNATION
new text end
new text begin
[Name One Or More Beneficiaries]:
new text end
_
_
new text begin
At death of party, ownership passes to POD beneficiaries and is not
part of party's estate.
new text end
_
new text begin
MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP
new text end
new text begin
At death of party, ownership passes to surviving parties.
new text end
_
new text begin
MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP
new text end
new text begin
AND
new text end
new text begin
POD (PAY ON DEATH) DESIGNATION
new text end
new text begin
[Name One Or More Beneficiaries]:
new text end
_
_
new text begin
At death of last surviving party, ownership passes to POD beneficiaries
and is not part of last surviving party's estate.
new text end
_
new text begin
MULTIPLE-PARTY ACCOUNT WITHOUT RIGHT OF
SURVIVORSHIP
new text end
new text begin
At death of party, deceased party's ownership passes as part of
deceased party's estate.
new text end
new text begin
AGENCY (POWER OF ATTORNEY) DESIGNATION [Optional]
new text end
new text begin
Agents may make account transactions for parties but have no ownership or
rights at death unless named as POD beneficiaries.
new text end
new text begin
[To Add Agency Designation To Account, Name One Or More Agents]:
new text end
_
_
new text begin
[Select One And Initial]:
new text end
_
new text begin
AGENCY DESIGNATION SURVIVES DISABILITY OR
INCAPACITY OF PARTIES
new text end
_
new text begin
AGENCY DESIGNATION TERMINATES ON DISABILITY OR
INCAPACITY OF PARTIES
new text end
new text begin
(b) A contract of deposit that does not contain provisions in substantially the form
provided in paragraph (a) is governed by the provisions of this chapter applicable to the
type of account that most nearly conforms to the depositor's intent.
new text end
Sec. 7.
new text begin
[524A.205] DESIGNATION OF AGENT.
new text end
new text begin
(a) By a writing signed by all parties, the parties may designate as agent of all parties
on an account a person other than a party.
new text end
new text begin
(b) Unless the terms of an agency designation provide that the authority of the agent
terminates on disability or incapacity of a party, the agent's authority survives disability
and incapacity. The agent may act for a disabled or incapacitated party until the authority
of the agent is terminated.
new text end
new text begin
(c) Death of the sole party or last surviving party terminates the authority of an agent.
new text end
Sec. 8.
new text begin
[524A.206] APPLICABILITY OF CHAPTER.
new text end
new text begin
The provisions of sections 524A.211 to 524A.216 concerning beneficial ownership
as between parties or as between parties and beneficiaries apply only to controversies
between those persons and their creditors and other successors, and do not apply to the
right of those persons to payment as determined by the terms of the account. Sections
524A.222 to 524A.227 govern the liability and set-off rights of financial institutions
that make payments pursuant to it.
new text end
Sec. 9.
new text begin
[524A.211] OWNERSHIP DURING LIFETIME.
new text end
new text begin
(a) In this section, "net contribution" of a party means the sum of all deposits to
an account made by or for the party, less all payments from the account made to or
for the party which have not been paid to or applied to the use of another party and a
proportionate share of any charges deducted from the account, plus a proportionate share
of any interest or dividends earned, whether or not included in the current balance. The
term includes any deposit life insurance proceeds added to the account by reason of death
of the party whose net contribution is in question.
new text end
new text begin
(b) During the lifetime of all parties, an account belongs to the parties in proportion
to the net contribution of each to the sums on deposit, unless there is clear and convincing
evidence of a different intent. As between parties married to each other, in the absence of
proof otherwise, the net contribution of each is presumed to be an equal amount.
new text end
new text begin
(c) A beneficiary in an account having a POD designation has no right to sums on
deposit during the lifetime of any party.
new text end
new text begin
(d) An agent in an account with an agency designation has no beneficial right
to sums on deposit.
new text end
Sec. 10.
new text begin
[524A.212] RIGHTS AT DEATH.
new text end
new text begin
(a) Except as otherwise provided in this chapter, on death of a party sums on deposit
in a multiple-party account belong to the surviving party or parties. If two or more parties
survive and one is the surviving spouse of the decedent, the amount to which the decedent,
immediately before death, was beneficially entitled under section 524A.211 belongs to the
surviving spouse. If two or more parties survive and none is the surviving spouse of the
decedent, the amount to which the decedent, immediately before death, was beneficially
entitled under section 524A.211 belongs to the surviving parties in equal shares, and
augments the proportion to which each survivor, immediately before the decedent's death,
was beneficially entitled under section 524A.211, and the right of survivorship continues
between the surviving parties.
new text end
new text begin
(b) In an account with a POD designation:
new text end
new text begin
(1) On death of one of two or more parties, the rights in sums on deposit are
governed by paragraph (a).
new text end
new text begin
(2) On death of the sole party or the last survivor of two or more parties, sums on
deposit belong to the surviving beneficiary or beneficiaries. If two or more beneficiaries
survive, sums on deposit belong to them in equal and undivided shares, and there is no
right of survivorship in the event of death of a beneficiary thereafter. If no beneficiary
survives, sums on deposit belong to the estate of the last surviving party.
new text end
new text begin
(c) Sums on deposit in a single-party account without a POD designation, or in a
multiple-party account that, by the terms of the account, is without right of survivorship,
are not affected by death of a party, but the amount to which the decedent, immediately
before death, was beneficially entitled under section 524A.211 is transferred as part of
the decedent's estate. A POD designation in a multiple-party account without right of
survivorship is ineffective. For purposes of this section, designation of an account as a
tenancy in common establishes that the account is without right of survivorship.
new text end
new text begin
(d) The ownership right of a surviving party or beneficiary, or of the decedent's
estate, in sums on deposit is subject to requests for payment made by a party before the
party's death, whether paid by the financial institution before or after death, or unpaid.
The surviving party or beneficiary, or the decedent's estate, is liable to the payee of an
unpaid request for payment. The liability is limited to a proportionate share of the amount
transferred under this section, to the extent necessary to discharge the request for payment.
new text end
Sec. 11.
new text begin
[524A.213] ALTERATION OF RIGHTS.
new text end
new text begin
(a) Rights at death under section 524A.212 are determined by the type of account
at the death of a party. The type of account may be altered by written notice given by a
party to the financial institution to change the type of account or to stop or vary payment
under the terms of the account. The notice must be signed by a party and received by the
financial institution during the party's lifetime.
new text end
new text begin
(b) A right of survivorship arising from the express terms of the account, section
524A.212, or a POD designation, may not be altered by will.
new text end
Sec. 12.
new text begin
[524A.214] ACCOUNTS AND TRANSFERS NONTESTAMENTARY.
new text end
new text begin
Except as provided in the statutes governing augmented estates or as a consequence
of, and to the extent directed by, section 524A.215, a transfer resulting from the application
of section 524A.212 is effective by reason of the terms of the account involved and this
chapter and is not testamentary or subject to estate administration.
new text end
Sec. 13.
new text begin
[524A.215] RIGHTS OF CREDITORS AND OTHERS.
new text end
new text begin
(a) For the purpose of this section, a nonprobate transfer occurs if the last domicile
of a depositor whose interest is transferred under section 524A.212 was in this state.
new text end
new text begin
(b) A transferee of a nonprobate transfer is subject to liability to any probate estate
of the decedent for allowed claims against that estate and statutory allowances to the
decedent's spouse and children to the extent the estate is insufficient to satisfy those claims
and allowances. The liability of a nonprobate transferee may not exceed the value of
nonprobate transfers received by that transferee.
new text end
new text begin
(c) Nonprobate transferees are liable for the insufficiency described in paragraph (b)
in the following order of priority:
new text end
new text begin
(1) a transferee designated in the decedent's will or any other governing instrument,
as provided in the instrument;
new text end
new text begin
(2) the trustee of a trust serving as the principal nonprobate instrument in the
decedent's estate plan as shown by its designation as devisee of the decedent's residuary
estate or by other facts or circumstances, to the extent of the value of the nonprobate
transfer received;
new text end
new text begin
(3) other nonprobate transferees, in proportion to the values received.
new text end
new text begin
(d) A provision made in one instrument may direct the apportionment of the liability
among the nonprobate transferees taking under that or any other governing instrument. If
a provision in one instrument conflicts with a provision in another, the later one prevails.
new text end
new text begin
(e) Upon due notice to a nonprobate transferee, the liability imposed by this section is
enforceable in proceedings in this state, whether or not the transferee is located in this state.
new text end
new text begin
(f) A proceeding under this section may not be commenced unless the personal
representative of the decedent's estate has received a written demand for the proceeding
from the surviving spouse or a child, to the extent that statutory allowances are affected,
or a creditor. If the personal representative declines or fails to commence a proceeding
after demand, a person making demand may commence the proceeding in the name of the
decedent's estate, at the expense of the person making the demand and not of the estate. A
personal representative who declines in good faith to commence a requested proceeding
incurs no personal liability for declining.
new text end
new text begin
(g) A proceeding under this section must be commenced within one year after the
decedent's death, but a proceeding on behalf of a creditor whose claim was allowed after
proceedings challenging disallowance of the claim may be commenced within 60 days
after final allowance of the claim.
new text end
new text begin
(h) Unless a written notice asserting that a decedent's estate is insufficient to pay
allowed claims and statutory allowances has been received from the decedent's personal
representative, a trustee receiving a nonprobate transfer is released from liability under this
section with respect to any assets distributed to the trust's beneficiaries. Each beneficiary
to the extent of the distribution received becomes liable for the amount of the trustee's
liability attributable to assets received by the beneficiary.
new text end
new text begin
(i) In this section:
new text end
new text begin
(1) "child" includes any individual entitled to take as a child by intestate succession
from the parent whose relationship is involved and excludes any person who is only a
stepchild, a foster child, a grandchild, or any more remote descendant; and
new text end
new text begin
(2) "claims," in respect to the estate of a decedent, includes liabilities of the decedent
whether arising in contract, tort or otherwise, and liabilities of the estate which arise at or
after the death of the decedent, including funeral expenses and expenses of administration.
The term does not include estate or inheritance taxes, or demands or disputes regarding
title of a decedent to specific assets alleged to be included in the estate.
new text end
Sec. 14.
new text begin
[524A.216] COMMUNITY PROPERTY AND TENANCY BY THE
ENTIRETIES.
new text end
new text begin
(a) A deposit of community property in an account does not alter the community
character of the property or community rights in the property, but a right of survivorship
between parties married to each other arising from the express terms of the account or
section 524A.212 may not be altered by will.
new text end
new text begin
(b) This chapter does not affect the law governing tenancy by the entireties.
new text end
Sec. 15.
new text begin
[524A.221] AUTHORITY OF FINANCIAL INSTITUTION.
new text end
new text begin
A financial institution may enter into a contract of deposit for a multiple-party
account to the same extent it may enter into a contract of deposit for a single-party
account, and may provide for a POD designation and an agency designation in either a
single-party account or a multiple-party account. A financial institution need not inquire
as to the source of a deposit to an account or as to the proposed application of a payment
from an account.
new text end
Sec. 16.
new text begin
[524A.222] PAYMENT ON MULTIPLE-PARTY ACCOUNT.
new text end
new text begin
A financial institution, on request, may pay sums on deposit in a multiple-party
account to:
new text end
new text begin
(1) one or more of the parties, whether or not another party is disabled, incapacitated,
or deceased when payment is requested and whether or not the party making the request
survives another party; or
new text end
new text begin
(2) the personal representative, if any, or, if there is none, the heirs or devisees of a
deceased party if proof of death is presented to the financial institution showing that the
deceased party was the survivor of all other persons named on the account either as a party
or beneficiary, unless the account is without right of survivorship under section 524A.212.
new text end
Sec. 17.
new text begin
[524A.223] PAYMENT ON POD DESIGNATION.
new text end
new text begin
A financial institution, on request, may pay sums on deposit in an account with a
POD designation to:
new text end
new text begin
(1) one or more of the parties, whether or not another party is disabled, incapacitated,
or deceased when the payment is requested and whether or not a party survives another
party;
new text end
new text begin
(2) the beneficiary or beneficiaries, if proof of death is presented to the financial
institution showing that the beneficiary or beneficiaries survived all persons named
as parties; or
new text end
new text begin
(3) the personal representative, if any, or, if there is none, the heirs or devisees of
a deceased party, if proof of death is presented to the financial institution showing that
the deceased party was the survivor of all other persons named on the account either
as a party or beneficiary.
new text end
Sec. 18.
new text begin
[524A.224] PAYMENT TO DESIGNATED AGENT.
new text end
new text begin
A financial institution, on request of an agent under an agency designation for an
account, may pay to the agent sums on deposit in the account, whether or not a party is
disabled, incapacitated, or deceased when the request is made or received, and whether or
not the authority of the agent terminates on the disability or incapacity of a party.
new text end
Sec. 19.
new text begin
[524A.225] PAYMENT TO MINOR.
new text end
new text begin
If a financial institution is required or permitted to make payment pursuant to this
chapter to a minor designated as a beneficiary, payment may be made pursuant to the
Uniform Transfers to Minors Act.
new text end
Sec. 20.
new text begin
[524A.226] DISCHARGE.
new text end
new text begin
(a) Payment made pursuant to this chapter in accordance with the type of account
discharges the financial institution from all claims for amounts so paid, whether or not
the payment is consistent with the beneficial ownership of the account as between
parties, beneficiaries, or their successors. Payment may be made whether or not a party,
beneficiary, or agent is disabled, incapacitated, or deceased when payment is requested,
received, or made.
new text end
new text begin
(b) Protection under this section does not extend to payments made after a financial
institution has received written notice from a party, or from the personal representative,
surviving spouse, or heir or devisee of a deceased party, to the effect that payments in
accordance with the terms of the account, including one having an agency designation,
should not be permitted, and the financial institution has had a reasonable opportunity
to act on it when the payment is made. Unless the notice is withdrawn by the person
giving it, the successor of any deceased party must concur in a request for payment if the
financial institution is to be protected under this section. Unless a financial institution has
been served with process in an action or proceeding, no other notice or other information
shown to have been available to the financial institution affects its right to protection
under this section.
new text end
new text begin
(c) A financial institution that receives written notice pursuant to this section or
otherwise has reason to believe that a dispute exists as to the rights of the parties may
refuse, without liability, to make payments in accordance with the terms of the account.
new text end
new text begin
(d) Protection of a financial institution under this section does not affect the rights
of parties in disputes between themselves or their successors concerning the beneficial
ownership of sums on deposit in accounts or payments made from accounts.
new text end
Sec. 21.
new text begin
[524A.227] SET-OFF.
new text end
new text begin
Without qualifying any other statutory right to set-off or lien and subject to any
contractual provision, if a party is indebted to a financial institution, the financial
institution has a right to set-off against the account. The amount of the account subject
to set-off is the proportion to which the party is, or immediately before death was,
beneficially entitled under section 524A.211 or, in the absence of proof of that proportion,
an equal share with all parties.
new text end
Sec. 22.
new text begin
[524A.231] SHORT TITLE.
new text end
new text begin
This chapter may be cited as the Uniform Multiple-Person Accounts Act.
new text end
Sec. 23.
new text begin
[524A.301] DEFINITIONS.
new text end
new text begin
(a) The definitions in this section apply to sections 524A.301 to 524A.310.
new text end
new text begin
(b) "Beneficiary form" means a registration of a security which indicates the present
owner of the security and the intention of the owner regarding the person who will become
the owner of the security upon the death of the owner.
new text end
new text begin
(c) "Devisee" means any person designated in a will to receive a disposition of
real or personal property.
new text end
new text begin
(d) "Heirs" means those persons, including the surviving spouse, who are entitled
under the statutes of intestate succession to the property of a decedent.
new text end
new text begin
(e) "Person" means an individual, a corporation, an organization, or other legal entity.
new text end
new text begin
(f) "Personal representative" includes executor, administrator, successor personal
representative, special administrator, and persons who perform substantially the same
function under the law governing their status.
new text end
new text begin
(g) "Property" includes both real and personal property or any interest therein and
means anything that may be the subject of ownership.
new text end
new text begin
(h) "Register," including its derivatives, means to issue a certificate showing the
ownership of a certificated security or, in the case of an uncertificated security, to initiate
or transfer an account showing ownership of securities.
new text end
new text begin
(i) "Registering entity" means a person who originates or transfers a security title
by registration, and includes a broker maintaining security accounts for customers and a
transfer agent or other person acting for or as an issuer of securities.
new text end
new text begin
(j) "Security" means a share, participation, or other interest in property, in a business,
or in an obligation of an enterprise or other issuer, and includes a certificated security, an
uncertificated security, and a security account.
new text end
new text begin
(k) "Security account" means:
new text end
new text begin
(1) a reinvestment account associated with a security, a securities account with a
broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned
or declared on a security in an account, a reinvestment account, or a brokerage account,
whether or not credited to the account before the owner's death; or
new text end
new text begin
(2) a cash balance or other property held for or due to the owner of a security as a
replacement for or product of an account security, whether or not credited to the account
before the owner's death.
new text end
new text begin
(l) "State" includes any state of the United States, the District of Columbia, the
Commonwealth of Puerto Rico, and any territory or possession subject to the legislative
authority of the United States.
new text end
Sec. 24.
new text begin
[524A.302] REGISTRATION IN BENEFICIARY FORM; SOLE OR
JOINT TENANCY OWNERSHIP.
new text end
new text begin
Only individuals whose registration of a security shows sole ownership by one
individual or multiple ownership by two or more with right of survivorship, rather than
as tenants in common, may obtain registration in beneficiary form. Multiple owners of a
security registered in beneficiary form hold as joint tenants with right of survivorship, as
tenants by the entireties, or as owners of community property held in survivorship form,
and not as tenants in common.
new text end
Sec. 25.
new text begin
[524A.303] REGISTRATION IN BENEFICIARY FORM; APPLICABLE
LAW.
new text end
new text begin
A security may be registered in beneficiary form if the form is authorized by this or a
similar statute of the state of organization of the issuer or registering entity, the location of
the registering entity's principal office, the office of its transfer agent or its office making
the registration, or by this or a similar statute of the law of the state listed as the owner's
address at the time of registration. A registration governed by the law of a jurisdiction
in which this or similar legislation is not in force or was not in force when a registration
in beneficiary form was made is nevertheless presumed to be valid and authorized as
a matter of contract law.
new text end
Sec. 26.
new text begin
[524A.304] ORIGINATION OF REGISTRATION IN BENEFICIARY
FORM.
new text end
new text begin
A security, whether evidenced by certificate or account, is registered in beneficiary
form when the registration includes a designation of a beneficiary to take the ownership at
the death of the owner or the deaths of all multiple owners.
new text end
Sec. 27.
new text begin
[524A.305] FORM OF REGISTRATION IN BENEFICIARY FORM.
new text end
new text begin
Registration in beneficiary form may be shown by the words "transfer on death" or
the abbreviation "TOD," or by the words "pay on death" or the abbreviation "POD," after
the name of the registered owner and before the name of a beneficiary.
new text end
Sec. 28.
new text begin
[524A.306] EFFECT OF REGISTRATION IN BENEFICIARY FORM.
new text end
new text begin
The designation of a TOD beneficiary on a registration in beneficiary form has no
effect on ownership until the owner's death. A registration of a security in beneficiary
form may be canceled or changed at any time by the sole owner or all then surviving
owners without the consent of the beneficiary.
new text end
Sec. 29.
new text begin
[524A.307] OWNERSHIP ON DEATH OF OWNER.
new text end
new text begin
On death of a sole owner or the last to die of all multiple owners, ownership of
securities registered in beneficiary form passes to the beneficiary or beneficiaries who
survive all owners. On proof of death of all owners and compliance with any applicable
requirements of the registering entity, a security registered in beneficiary form may be
reregistered in the name of the beneficiary or beneficiaries who survived the death of all
owners. Until division of the security after the death of all owners, multiple beneficiaries
surviving the death of all owners hold their interests as tenants in common. If no
beneficiary survives the death of all owners, the security belongs to the estate of the
deceased sole owner or the estate of the last to die of all multiple owners.
new text end
Sec. 30.
new text begin
[524A.308] PROTECTION OF REGISTERING ENTITY.
new text end
new text begin
(a) A registering entity is not required to offer or to accept a request for security
registration in beneficiary form. If a registration in beneficiary form is offered by a
registering entity, the owner requesting registration in beneficiary form assents to the
protections given to the registering entity by sections 524A.301 to 524A.310.
new text end
new text begin
(b) By accepting a request for registration of a security in beneficiary form, the
registering entity agrees that the registration will be implemented on death of the deceased
owner as provided in sections 524A.301 to 524A.310.
new text end
new text begin
(c) A registering entity is discharged from all claims to a security by the estate,
creditors, heirs, or devisees of a deceased owner if it registers a transfer of the security
in accordance with section 524A.307 and does so in good faith reliance on (1) the
registration, (2) sections 524A.301 to 524A.310, and (3) information provided to it
by affidavit of the personal representative of the deceased owner, or by the surviving
beneficiary or by the surviving beneficiary's representatives, or other information available
to the registering entity. The protections of sections 524A.301 to 524A.310 do not
extend to a reregistration or payment made after a registering entity has received written
notice from any claimant to any interest in the security objecting to implementation of
a registration in beneficiary form. No other notice or other information available to the
registering entity affects its right to protection under sections 524A.301 to 524A.310.
new text end
new text begin
(d) The protection provided by sections 524A.301 to 524A.310 to the registering
entity of a security does not affect the rights of beneficiaries in disputes between
themselves and other claimants to ownership of the security transferred or its value or
proceeds.
new text end
Sec. 31.
new text begin
[524A.309] NONTESTAMENTARY TRANSFER ON DEATH.
new text end
new text begin
A transfer on death resulting from a registration in beneficiary form is effective by
reason of the contract regarding the registration between the owner and the registering
entity and sections 524A.301 to 524A.310 and is not testamentary.
new text end
Sec. 32.
new text begin
[524A.310] TERMS, CONDITIONS, AND FORMS FOR
REGISTRATION.
new text end
new text begin
(a) A registering entity offering to accept registrations in beneficiary form may
establish the terms and conditions under which it will receive requests (1) for registrations
in beneficiary form, and (2) for implementation of registrations in beneficiary form,
including requests for cancellation of previously registered TOD beneficiary designations
and requests for reregistration to effect a change of beneficiary. The terms and conditions
so established may provide for proving death, avoiding or resolving any problems
concerning fractional shares, designating primary and contingent beneficiaries, and
substituting a named beneficiary's descendants to take in the place of the named beneficiary
in the event of the beneficiary's death. Substitution may be indicated by appending to the
name of the primary beneficiary the letters LDPS, standing for "lineal descendants per
stirpes." This designation substitutes a deceased beneficiary's descendants who survive
the owner for a beneficiary who fails to so survive, the descendants to be identified
and to share in accordance with the law of the beneficiary's domicile at the owner's
death governing inheritance by descendants of an intestate. Other forms of identifying
beneficiaries who are to take on one or more contingencies, and rules for providing proofs
and assurances needed to satisfy reasonable concerns by registering entities regarding
conditions and identities relevant to accurate implementation of registrations in beneficiary
form, may be contained in a registering entity's terms and conditions.
new text end
new text begin
(b) The following are illustrations of registrations in beneficiary form which a
registering entity may authorize:
new text end
new text begin
(1) Sole owner-sole beneficiary: John S Brown TOD (or POD) John S Brown Jr.
new text end
new text begin
(2) Multiple owners-sole beneficiary: John S Brown Mary B Brown JT TEN TOD
John S Brown Jr.
new text end
new text begin
(3) Multiple owners-primary and secondary (substituted) beneficiaries: John S
Brown Mary B Brown JT TEN TOD John S Brown Jr SUB BENE Peter Q Brown or John
S Brown Mary B Brown JT TEN TOD John S Brown Jr LDPS.
new text end
Sec. 33.
new text begin
[524A.311] UNIFORMITY OF APPLICATION AND CONSTRUCTION.
new text end
new text begin
This chapter shall be applied and construed to effectuate its general purpose to make
uniform the law with respect to the subject of this chapter among states enacting it.
new text end
Sec. 34.
new text begin
[524A.312] SUPPLEMENTARY GENERAL PRINCIPLES OF LAW
APPLICABLE.
new text end
new text begin
Unless displaced by the particular provisions of this chapter, the principles of law
and equity supplement its provisions.
new text end
Sec. 35. new text begin REPEALER.
new text end
new text begin
Minnesota Statutes 2008, sections 524.6-201; 524.6-202; 524.6-203; 524.6-204;
524.6-205; 524.6-206; 524.6-207; 524.6-208; 524.6-209; 524.6-210; 524.6-211;
524.6-212; 524.6-213; and 524.6-214,
new text end
new text begin
are repealed.
new text end
Sec. 36. new text begin EFFECTIVE DATE.
new text end
new text begin
(a) This article is effective January 1, 2010.
new text end
new text begin
(b) On January 1, 2010:
new text end
new text begin
(1) an act done before January 1, 2010, and any accrued right is not impaired by
this article. If a right is acquired, extinguished, or barred on the expiration of a prescribed
period of time that has commenced to run by the provisions of any statute before January
1, 2010, the provisions shall remain in force with respect to that right; and
new text end
new text begin
(2) any rule of construction or presumption provided in this chapter applies to
accounts established before January 1, 2010, unless there is a clear indication of a contrary
intent.
new text end
new text begin
(c) The rights of a party, beneficiary, or creditor in an account established before
January 1, 2010, are governed by the law applicable before January 1, 2010, for a period
of one year after January 1, 2010, and thereafter are governed by this chapter.
new text end
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