Estate Tax Law Change For Non-Residents

As of July 1, 2013 non-residents who own an interest in a Partnership, LLC, or an S-Corporation that owns tangible personal property or real estate in Minnesota will now be subject Minnesota estate tax. This new provision is retroactive with an effective date of January 1, 2013.

For more information about the tax changes visit our Hot Topics Page:


Jeremy J. Nauman, Attorney

Estate Tax Change

Minnesota will continue to not impose any estate taxes for estates not exceeding $1,000,000.00. As of July 1, 2013, Minnesota will have a three year look back from the date of death that will add taxable gifts made after June 30, 2013 back into your estate.


For more informationabout the tax changes visit:


Jeremy J. Nauman, Attorney


Review of Elder Law - Burial Space Items And Medical Assistance

Review of Elder Law - Burial Space Items and Medical Assistance

Burial Space Items are funded funeral policies that can be useful tools to assist in qualifying for Medical Assistance, and can also be great gifts for your loved ones.

Burial Space Items include: Cemetery spaces, Urns, Vaults, Crypts, Caskets, Headstones, Grave Opening and Closing and Perpetual Care.

Carryover Basis Instead of Estate Tax: Form 8939

Form 8939 has been released by the IRS. If an executor is electing carryover basis instead of estate tax under IRC § 1022 for decedents dying in 2010; this form is filed in place of an estate tax return. The instructions note that an executor may not file both a Form 706 and Form 8939 that would take effect only if an estate tax audit increases the decedent’s gross estate. This form must be filed by January 17, 2012 by the executor and the executor cannot revoke it once filed unless they file a subsequent form before the due date.


Estate Tax Returns For 2010 Decedents; Deadlines:

Executors for estates of decedents who died in 2010 have untilJanuary 17, 2012 to file Form 8939, which is the carryover basis information return.

Allocations of available generation-skipping transfers on Form 8939 are also due on January 17, 2012.
March 2012 is the deadline to file Form 706 for the estate tax return.
The extension gives executors more time to consider the impact of making an I.R.C. §1022 election.
Income and gift tax returns did not receive an extension.
For more information please contact Stacey R. Edwards Jones at 507-385-4488.


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