SF2328 Summary

• Increases spousal intestate share threshold from $150,000 to $225,000 and supplemental elective share from $50,000 to $75,000 in probate estates.

• Raises exempt property allowance for surviving spouses from $10,000 to $15,000 and increases family allowance cap from $1,500 to $2,300 per month.

• Updates statutes to include limited liability companies under chapter 322C (Minnesota Revised Uniform Limited Liability Company Act) in various regulatory and business formation provisions.

• Clarifies receivership and assignment for benefit of creditors provisions, including receiver powers, property sales authority, and real estate recording requirements.

• Provides for a short form assignment document for recording with county recorder or registrar of titles when transferring real property through assignments for benefit of creditors.