Attorney Thomas B. Burton discusses the new Transfer on Death Beneficiary Designation Form that is now available for residents of Minnesota and explains how this form can be used to avoid probate on death for your motor vehicles.
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Transcript of Video: New Transfer on Death Beneficiary Designation Form for Motor Vehicles in Minnesota
Today's topic is specifically for
Minnesota residents and it's about a
change in the law the Minnesota
Legislature made in 2017
they now allow you to provide a transfer
on death designation for your motor
vehicle here in my hands is a copy of
the form from the Minnesota DMV website
it allows you to fill out your title and
also fill out beneficiary information
who you would like to leave the vehicle
to upon your death now you may be familiar
with transfer on death designations
for financial accounts but to my
knowledge this is one of the few states
that are allowing you to do this here in
Wisconsin we don't allow this for
vehicles it's a nice option if you have
a vehicle and you think it may be your
last and you want to leave it to a
specific person or child you can go to
the Minnesota DMV website get a copy of
the form and fill it out or if you use
my office for your estate planning we're
happy to provide that to you along with
the rest of your estate planning
documents so if you're Minnesota resident
be aware that you can now fill out this
transfer on death beneficiary
designation form for your motor vehicle
and that can help the vehicle avoid
probate at your death. Thanks for
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Transcript and captions provided for ease of access for the hearing impaired.
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