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spummerr

Willing A House

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I am making a new will and want to leave my home when I die to a city's Historical society. They're a Non profit.  They can sell it or do what they want with it.. It's a modern home, not historical.

My home is paid for and everything up to date. Value is about $230,000 today.

Do I need any special forms/paperwork from the state or the Historical society to attach to my will to transfer it?

Advice appreciated. Thanks

 

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Unless MN has some weird law in this area, a simple bequest of the house to the society will suffice.  Make sure you have the legal name of the society you want to will it to.  I have seen problems with a gift to the county historical society when there may be two with similar names, ie county state or even city.

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1 hour ago, spummerr said:

I am making a new will and want to leave my home when I die to a city's Historical society. They're a Non profit.  They can sell it or do what they want with it.. It's a modern home, not historical.

My home is paid for and everything up to date. Value is about $230,000 today.

Do I need any special forms/paperwork from the state or the Historical society to attach to my will to transfer it?

 

You might want to consider MN's Transfer on Death Deed that avoids probate. Read about it at:

 

http://www2.mnbar.org/benchandbar/2008/nov08/death_deed.html

 

Before you do it either way, make sure you have discussed it with the Historical Society and get their agreement either way you do it and make sure your executor (if you use a will) knows what to do.

 

If you use the TODD, all you should need to do is record it and give the Historical Society a certified copy of the TODD for their records and make sure you put something in place that notifies them in the event of your death so they can take possession of the house before anybody else gets to it..

 

 

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13 hours ago, spummerr said:

Do I need any special forms/paperwork from the state or the Historical society to attach to my will to transfer it?

 

Seems to me the most sensible thing would be to contact (or have your lawyer contact) someone at the historical society and discuss your intention.  I would expect that the HS would prefer that the executor of your estate sell the property and pay the cash.

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Hi @spummerr

 

As other users have suggested, you may want to consider speaking with an estate planning attorney. While it is not necessary to have an attorney in order to create a valid will, considering that you wish to leave your home to a non-profit historical society, you may wish to confer with an estate planning attorney to decide if creating a trust (to avoid probate) is a better option. As others have mentioned, your counsel can also communicate with the historical society to work out any issues now, so your family does not have to worry about probate court down the line.
 

Let us know if you have additional questions.

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