Minnesota Ancillary Probate – Financial Assets

Minnesota Ancillary Probate – Financial Assets – Affidavit for Collection

M.S., Section 524.4-201 identifies that the domiciliary foreign personal representative can attempt to take control of intangible personal property in the State of Minnesota pursuant to an Affidavit for Collection of Intangible Property, with respect to a Minnesota Ancillary Probate – Financial Assets matter, by providing in part as follows:

At any time after the expiration of 60 days from the death of a nonresident decedent, any person
indebted to the estate of the nonresident decedent or
having possession or control of an instrument evidencing a
debt,
obligation,
stock or
chose in action
belonging to the estate of the nonresident decedent may
pay the debt,
deliver the instrument evidencing the debt, obligation, stock or chose in action,
to the domiciliary foreign personal representative of the nonresident decedent upon being presented with
proof of appointment
and
an affidavit made by or on behalf of the representative stating:
(1)      the date of the death of the nonresident decedent,
(2)      that no local administration, or application or petition therefor, is pending in this state,
(3)      that the domiciliary foreign personal representative is entitled to payment or delivery.

Therefore a domiciliary foreign personal representative is authorized by M.S., Section 524.4-201:

to receive payments of debts owed to the decedent,

and

to accept delivery of intangible personal property belonging to the decedent – but not tangible personal property.

Payments of such debts or property pursuant to M.S., Section 524.3-201:

can be made any time more than 60 days after the death of the decedent, and

when made in good faith, operate as a discharge of the debtor.

Minnesota Ancillary Probate – Financial Assets – Location of Intangible Personal Property

For purposes of the Affidavit for Collection of Intangible Personal Property procedure with respect to a Minnesota Ancillary Probate – Financial Assets matter, M.S., Section 524.3-201(d) identifies that the location of any intangible personal property for purposes of venue – relating to the court which would have proper jurisdiction over such property – is identified as follows:

For the purpose of aiding determinations concerning location of assets which may be relevant in cases involving non-domiciliaries, a debt, other than one evidenced by investment or commercial paper or other instrument in favor of a non-domiciliary, is located:
where the debtor resides or,
if the debtor is a person other than an individual, at the place where it has its principal office.

Commercial paper, investment paper and other instruments are located where the instrument is.
An interest in property held in trust is located where the trustee may be sued.

Minnesota Ancillary Probate – Financial Assets – Release of Liability

M.S., Section 524.4-202 identifies that any person who in good faith pays or delivers property to the domiciliary foreign personal representative pursuant to an Affidavit for Collection of Intangible Property, is released from liability, by providing in part as follows:

Payment or delivery made in good faith on the basis of the proof of authority and affidavit releases the debtor or person having possession of the instrument evidencing the debt, obligation, stock or chose in action to the same extent as if payment or delivery had been made to a local personal representative.

Minnesota Ancillary Probate – Financial Assets – Resident Creditors

However, M.S., Section 524.4-203 identifies that:

Payment or delivery under section 524.4-201 may not be made if a resident creditor of the nonresident decedent has notified
the debtor of the nonresident decedent or
the person having possession of the instrument evidencing the debt, obligation, stock or chose in action belonging to the nonresident decedent
that the debt should not be paid nor such instrument delivered to the domiciliary foreign personal representative.

M.S., Section 524.4-101(3) identifies that:

“Resident creditor” means a person domiciled in [Minnesota], or doing business in this state [Minnesota], who is, or could be, a claimant against an estate of a nonresident decedent.

Minnesota Ancillary Probate – Financial Assets – Practical Limitations

An Affidavit for Collection of Intangible Property may not be commonly used, and it may not even be recognized by the financial institution(s) to which it is presented.

By statute, recognition of the Affidavit by the financial institution(s) to which it is presented is permissive, not mandatory.

Therefore, the Affidavit for Collection of Intangible Property may or may not be effective for its intended purposes.

Minnesota Ancillary Probate – Financial Assets

If you have need of assistance with any Minnesota Ancillary Probate – Financial Assets in any Minnesota County, contact attorney Gary C. Dahle, at 763-780-8390, or [email protected].

For a Minnesota Ancillary Probate with respect to any Minnesota real property interest, see https://www.dahlelawminnesota.com/minnesota-probate-procedures/ancillary-probate-minnesota/

Ancillary Probate in Minnesota

No claim to original U.S. government works.

Gary C. Dahle – Attorney at Law

2704 Mounds View Blvd., Mounds View, MN 55112

Phone: 763-780-8390 Fax: 763-780-1735

[email protected]

Topics of Interest:

Minnesota Joint Tenancy

Legal Disclaimer

Information provided herein is only for general informational and educational purposes. Minnesota probate law involves many complex legal issues. If you have a specific legal problem about which you are seeking advice, either consult with your own attorney, or retain an attorney of your choice.

Gary C. Dahle, Attorney at Law, is licensed to practice law only in the State of Minnesota, and in the state of North Dakota, in the United States of America. Therefore, only those persons interested in matters governed by the laws of the State of Minnesota should consult with, or provide information to, Gary C. Dahle, Attorney at Law, or take note of information provided herein.

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Links to Minnesota Probate Records

Minnesota Department of Health – Death Records Index – 1997 to Present: http://www.health.state.mn.us/divs/chs/osr/DecdIndex/dthSearch.cfm

Minnesota Historical Society – Death Records; 1904 – 2001: http://www.mnhs.org/people/deathrecords

Minnesota Department of Health – Birth Certificates – http://www.health.state.mn.us/divs/chs/osr/birth.html

Minnesota Historical Society – Birth Records: http://www.mnhs.org/people/birthrecords

Minnesota Marriage Records – https://moms.mn.gov/