According to the 2011 Minnesota Statutes, your will must contain a few basic provisions, including your name, your address, the names of your beneficiaries, the names of your family members and the name of your personal representative or executor, as well as a description of the property you are distributing. If your will refers to any trusts, you must identify them and identify your trustees who are responsible for managing your trusts. You should also incorporate provisions incorporating alternate beneficiaries. This way, if a beneficiary predeceases you, an alternate beneficiary may be able to inherit your asset if he survives you. You should also designate an alternate personal representative or executor to oversee your will if your primary choice is unavailable or unwilling to serve. If you have minor children, you can typically designate a guardian to watch over them and name an alternate guardian.
A personal representative or executor is responsible under Minnesota law to oversee your will. Your personal representative or executor will distribute your property to your heirs and beneficiaries and pay your debts and liabilities to legitimate creditors. Minnesota law places a legal fiduciary duty on your personal representative or executor to act in the best interests of your heirs and creditors. This person is also legally responsible for paying your estate and any inheritance taxes, filing tax returns, notifying prospective creditors of your death and canceling any existing personal accounts.
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