Composing a Minnesota last will and testament can save the future of your beloved people. This legal paper represents the last wish of the deceased person, which is documented in compliance with a particular state’s laws. For instance, residents of Minnesota who want to make a will can use our last will and testament template that we have compiled for their convenience. A last will and testament must be notarized or it will be declared invalid. This juridical document is drawn up according to specific rules: the decedent can transfer their property to any person, not just relatives. The number of inheritors is not limited to one individual.
Although creating a will is a matter of the paramount importance, only about half of the US adult population has a last will and testament. There are many reasons for that, but the most typical include people thinking that their belongings are not worth much, or that their close ones will deal with everything themselves after their passing.
It may also happen that a person on their deathbed decides not to transfer property rights to their marital partners or other loved ones, because sometimes, people got married in the pursuit of money and not love. It is one of the circumstances where a correctly composed last will and testament will come in handy.
Luckily, this legal paper is not too elaborate to create, especially when you have our free Minnesota last will and testament template in the form of a printable PDF file at your service. Once you download it, feel free to fill out the form focusing on your needs and requirements.
So what are the primary benefits of a last will and testament? In short, this document will not only secure your earthly possessions and split your assets among those dear to your heart, but also help you assign a legal guardian for your underage kids or dependents with special needs. It is also possible to name your personal representative or the executor to ensure that your last wish and directives are fulfilled.
How Does a Last Will Differ from a Living Will?
People frequently confuse the last will with a living will, but these legal instruments are not the same.
While the last will is written by a mentally sound individual who wants to protect their last wish and interests of their family and friends after their demise, a living will is somewhat different. Thus, a last will and testament come into force upon a person’s death. At the same time, a living will is used to declare instructions of an individual unavailable for making tough calls or physically/mentally incapacitated. After the passing of a person, such a legal document is no longer valid.
In a nutshell, you make a living will for a solicitor to make difficult decisions (financial, medical, or custody-related) by following your instructions. The last will distributes material assets and takes care of minor kids left behind.
The Role of the Last Will in Child Protection
If you happen to be a single caretaker survived by children under the legal age, you should appoint a trusted, responsible person as the legal guardian of your descendants.
Given the responsibilities coming along with such a title, you need to discuss this matter with a chosen individual in advance and ensure you have their approval before naming them in the will. Bear in mind that the legal guardian has the right to manage your children’s inheritance until they are 18.
Residents of Minnesota ready to make a last will may also set up a trust under will for their offspring’s secure financial future. By using a last will and testament in Minnesota, you can establish a testamentary trust for your minor kids, which is supervised by the appointed trustee until your children reach the age of majority. Importantly, such a will cannot be revoked.
The Use of a Last Will for Pet Protection
If you want to be sure that your beloved pets are taken care of even after your death, you can found a pet trust as well. It is similar to a trust by will for the minors left behind after your passing, but it ceases its power when the named animals die.
Conditions That Make a Last Will Valid
In case you die without writing a will, the intestacy laws are invoked, which means that your last wishes won’t be respected, and the state will decide how to distribute your property. To avoid this situation, be sure to draw up a valid last will and testament in line with section 524.2-502 of 2019 Minnesota Statute. To make this legal paper valid, you need to take into account the following points:
- The estate-leaver must be of legal age or older.
- The testator should be able to make sound decisions and not act under duress.
- The one who devises property must sign this legal document or let someone else sign it in their presence and per their directions.
- Two or more witnesses have to sign the paper confirming that the estate-leaver acknowledges their signature put on the will.
- The last will is accepted only in a written form.
- This legal document has to include the names of the executor, guardian, and beneficiaries.
- The last will can be changed only with the help of codicil, while to revoke an existing will, you have to create a new one or obliterate it.
Once you are ready to create a Minnesota last will and testament, resort to our fillable template that you may find online on our site and use it at your convenience.