Agenda - Council - 02/08/2021 - Laserfiche WebLink

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01/13/21 REVISOR EAP/HR 21-01750 18.1 (6) "Personal representative" means the executor, administrator or other person appointed 18.2 by the court to administer and dispose of the property of the decedent. If there is no executor, 18.3 administrator or other person appointed, qualified, and acting within this state, then any 18.4 person in actual or constructive possession of any property having a situs in this state which 18.5 is included in the federal gross estate of the decedent shall be deemed to be a personal 18.6 representative to the extent of the property and the Minnesota estate tax due with respect 18.7 to the property. 18.8 (7) "Resident decedent" means an individual whose domicile at the time of death was 18.9 in Minnesota. The provisions of section 290.01, subdivision 7, paragraphs (c) and (d), apply 18.10 to determinations of domicile under this chapter. 18.11 (8) "Situs of property" means, with respect to: 18.12 (i) real property, the state or country in which it is located; 18.13 (ii) tangible personal property, the state or country in which it was normally kept or 18.14 located at the time of the decedent's death or for a gift of tangible personal property within 18.15 three years of death, the state or country in which it was normally kept or located when the 18.16 gift was executed; 18.17 (iii) a qualified work of art, as defined in section 2503(g)(2) of the Internal Revenue 18.18 Code, owned by a nonresident decedent and that is normally kept or located in this state 18.19 because it is on loan to an organization, qualifying as exempt from taxation under section 18.20 501(c)(3) of the Internal Revenue Code, that is located in Minnesota, the situs of the art is 18.21 deemed to be outside of Minnesota, notwithstanding the provisions of item (ii); and 18.22 (iv) intangible personal property, the state or country in which the decedent was domiciled 18.23 at death or for a gift of intangible personal property within three years of death, the state or 18.24 country in which the decedent was domiciled when the gift was executed. 18.25 For a nonresident decedent with an ownership interest in a pass -through entity with 18.26 assets that include real or tangible personal property, situs of the real or tangible personal 18.27 property, including qualified works of art, is determined as if the pass -through entity does 18.28 not exist and the real or tangible personal property is personally owned by the decedent. If 18.29 the pass -through entity is owned by a person or persons in addition to the decedent, ownership 18.30 of the property is attributed to the decedent in proportion to the decedent's capital ownership 18.31 share of the pass -through entity. 18.32 (9) "Pass -through entity" includes the following: Sec. 16. 18