Minnesota Estate Tax

While inheritances by individuals are not generally taxable, the estate itself is subject to Minnesota estate tax in certain circumstances. Assets that are transferred to a surviving spouse are generally exempt from Minnesota estate tax. Assets are included in the Minnesota estate if the decedent lived in Minnesota or if the decedent owned property in the state. Under Minnesota law, an estate has an exemption to the imposition of estate taxes. Assets of an estate that exceed the exemption will be subject to tax. Legislation enacted in 2014 increased the Minnesota exemption amount annually in graduated steps, which reach a maximum of $2 million in 2018 (see box). Taxes for amounts in excess of the exemption range from 10 to 16 percent. The highest tax rate applies to estate values over $10,100,000.

Clients are urged to seek specific tax advice from their accountant.

Gifts made within three years of death are included in the estate

Currently, gifts made within three years of death are subject to the estate tax; this rule only applies to gifts that are made more than the $14,000 federal gift tax exclusion.

Estate tax affects only a small number of estates.

Less than 2 percent of Minnesota estates pay the estate tax, due in part to the increase in the exemption amount, and part to the fact that distributions to US spouses are mainly non-taxable. The state estimates that once the increased exemptions are fully implemented the estate taxes will have been decreased by

Any tax related questions should be addressed by your tax accountant. In taxable estates, Mr. Herrick will work with your tax advisor to implement a proper estate plan for your situation.

Federal Estate Tax

The 2016 federal estate tax exemption is 5.45 million for individuals and 10.9 million for married couples. The annual gift tax exclusion is $14,000. Estates that are or may be subject to federal estate taxes should seek professional advice from both an estate attorney and a tax accountant.

Contact Mr. Herrick today for more detailed information.

Living Wills

Living Will is a document that gives your loved ones and medical providers guidance to make medical and health care decisions for you.


Putting assets in trust can enable the trust and its assets to pass directly to heirs without the publicity and cost of probate.

Power of Attorney

A power of attorney is written permission for someone to take care of property or money matters for you.

Transfer on Death Deeds

Minnesota allows the use of Transfer on Death Deeds as a probate avoidance technique for real property titles.


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