Minnesota Probate Form PRO601

Protective Order For Investment Of Minor's Funds

Everything you need to know about Minnesota Form PRO601, including helpful tips, fast facts & deadlines, how to fill it out, where to submit it and other related MN probate forms.

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About Protective Order For Investment Of Minor's Funds

There are all sorts of forms executors, beneficiaries, and probate court clerks have to fill out and correspond with during probate and estate settlement, including affidavits, letters, petitions, summons, orders, and notices.

Protective Order For Investment Of Minor's Funds is a commonly used form within Minnesota. Here’s an overview of what the form is and means, including a breakdown of the situations when (or why) you may need to use it:

Atticus Fast Facts About Protective Order For Investment Of Minor's Funds

Sometimes it’s tough to find a quick summary— here’s the important details you should know about Protective Order For Investment Of Minor's Funds:

  • This form pertains to the State of Minnesota

Government forms are not typically updated often, though when they are, it often happens rather quietly. While Atticus works hard to keep this information about Minnesota’s Form PRO601 - Protective Order For Investment Of Minor's Funds up to date, certain details can change from time-to-time with little or no communication.

How to file Form PRO601

Step 1 - Download the correct Minnesota form based on the name and ID if applicable

Double check that you have both the correct form name and the correct form ID. Some Minnesota probate forms can look remarkably similar, so it’s best to double, even triple-check that you’re using the right one! Keep in mind that not all States have a standardized Form ID system for their probate forms.

Step 2 - Complete the Document

Fill out all relevant fields in Form PRO601, take a break, and then review. Probate and estate settlement processes in MN are long enough to begin with, and making a silly error can push your timeline even farther back. No thank you!

Note: If you don’t currently know all of the answers and are accessing Form PRO601 online, be sure to avoid closing the browser tab and potentially losing all your progress (or use a platform like Atticus to help avoid making mistakes).

Step 3 - Have Form PRO601 witnessed or notarized (if required)

Some States and situations require particular forms to be notarized. If you have been instructed to get the document notarized or see it in writing on the document, then make sure to hire a local notary. There are max notary fees in the United States that are defined and set by local law. Take a look at our full guide to notary fees to make sure you aren’t overpaying or getting ripped off.

Step 4 - Submit Protective Order For Investment Of Minor's Funds to the relevant office

This is most often the local probate court where the decedent (person who passed away) is domiciled (permanently resides) or the institution involved with this particular form (e.g. a bank). Some offices allow you to submit forms online, other’s don’t, and we while we generally recommend going in-person to expedite the process, sometimes that simply isn’t an option.

It’s also a generally good idea to establish a positive working relationship with any probate clerk (unfortunately there’s enough people & process out there making things more difficult and unnecessarily confusing for them), so a best practice is to simply ask the probate clerk proactively exactly how and where they’d prefer you to submit all forms.

Need help getting in touch with a local probate court or identifying a domicile probate jurisdiction?

👉 Find and Contact your Local Probate Court

👉 What is a Domicile Jurisdiction?

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When Protective Order For Investment Of Minor's Funds is due

Different probate forms or processes can require different deadlines or response times for completing the appropriate form.

While some steps in the process are bound to specific deadlines (like petitioning for probate, having to submit an inventory of assets, or filing applicable notices to creditors and beneficiaries), many probate forms or processes are not tied to a specific deadline since the scope of work can vary based on situational factors or requirements involved.

Either way, there are a bunch of practical reasons why personal representatives should work to complete each step as thoroughly and quickly as possible when completing probate in Minnesota.

5 reasons you should submit PRO601 as quickly as possible:

  1. The sooner you begin, the faster Minnesota can allow heirs and beneficiaries to get their share of assets subject to probate. Acting promptly can also decrease the costs & overall mental fatigue through an otherwise burdensome process.

    Helpful Context: What’s the Difference Between Probate and Non-Probate Assets?

  2. In general, creditors of an estate usually have around 3-6 months from the time you file notice to creditors to file any claims for debt against the deceased’s assets. If they don’t, then that debt is forfeited (and more importantly, the executor won’t be held personally responsible). So doing this sooner means you have a better idea of who is owed what and ensures you won’t get a surprise collector months later.

  3. Not filing a will within 30 days (on average) could mean that the probate process proceeds according to intestate laws (laws that govern what happens to someone's stuff without a will) or is subject to unnecessary supervision by the probate court. And if you aren't directly related to the deceased (a.k.a. next of kin), this could also mean you lose your inheritance.

  4. It’s important to file any necessary state tax returns on behalf of the deceased or estate by the following tax season in Minnesota. If you don’t, you could owe penalties and interest. This also includes any necessary federal tax returns such as Forms 1040, 1041, or even a Form 706 estate tax return.

  5. If a house in the State of Minnesota is left empty (or abandoned) for a while, insurance can get dicey. For example, if the house burns down and no one has been there for a year, an insurance company may get out of paying your claim.

If you’re not using Atticus to get specific forms, deadlines, and timelines for Minnesota probate, then try and stay as organized as possible, pay close attention to the dates mentioned in any correspondence you have with the State’s government officials, call the local Minnesota probate clerk or court for exact answers regarding Form PRO601, and when in doubt— consult a qualified trust & estates lawyer for that area.

How to Download, Open, and Edit Form PRO601 Online

Protective Order For Investment Of Minor's Funds is one of the many probate court forms available for download through Atticus.

It may also be available through some Minnesota probate court sites, such as . In order to access the latest version, be updated with any revisions, and get full instructions on how to complete each form, check out the Atticus Probate & Estate Settlement software or consider hiring a qualified legal expert locally within Minnesota.

While Atticus automatically provides the latest forms, be sure to choose the correct version of Form PRO601 - Protective Order For Investment Of Minor's Funds f using any other site or resource in order to avoid having to re-complete the form process and/or make another trip to the Minnesota probate court office.

Protective Order For Investment Of Minor's Funds is a .pdf, so opening it should be as simple as clicking “View Form” from within the Atticus app or by clicking the appropriate link found on any Minnesota-provided government platform. Once you’ve opened the form, you should be able to directly edit the form before saving or printing.

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Did you know?

  • Form PRO601 - Protective Order For Investment Of Minor's Funds is a probate form in Minnesota.

  • Minnesota has multiple types of probate and the necessary forms depend on the unique aspects of each estate, such as type and value of assets, whether there was a valid will, who is serving as the personal representative or executor, and even whether or not they also live in Minnesota.

  • During probate, all personal representatives and executives in are required to submit a detailed inventory of assets that must separate non-probate assets from probate assets.

  • Probate in Minnesota, especially without guidance, can take years to finish and cost upwards of $14,000.

Frequently Asked Questions about Protective Order For Investment Of Minor's Funds

Probate is the government’s way of making sure that when a person dies, the right stuff goes to the right people (including the taxes the government wants).

All of that stuff is collectively known as someone’s “estate”, and it’s the job of the executor or personal representative to fill out all the forms and complete all the required steps to formally dissolve the estate. 

To get instant clarity on the entire probate process and get an idea of the steps, timeline, and best practices, read the Atticus Beginner’s Guide to Probate

The best place? Create an account in Atticus to start getting estate-specific advice. 

You may need a lawyer, you may not, and paying for one when you didn’t need it really hurts. Atticus makes sure you make  the best decisions (plus you can write it off as an executor expense).

We’ve also created a list of other probate services. Be sure to check it out!

An executor is named in someone’s will, and if the deceased didn’t have a will, then the spouse or other close family relative usually steps up to fulfill the role. If no one wants to do it, then a judge will appoint someone. 

The executor is responsible for the complete management of the probate process, including major responsibilities such as:

  • Creating an inventory of all probate assets.

  • Filling out all necessary forms

  • Paying off all estate debts and taxes

  • Submitting reports to the court and beneficiaries as requested

And much more. This process often stretches longer than a year. 

For an idea of what separates executors who succeed from those who make this way harder than it should be, visit our article, Executors of an Estate:
What they do & secrets to succeeding

The Exact Text on Form PRO601

Here’s the text, verbatim, that is found on Minnesota Form PRO601 - Protective Order For Investment Of Minor's Funds. You can use this to get an idea of the context of the form and what type of information is needed.

PRO601 State ENG Rev 5/16 www.mncourts.gov/forms Page 1 of 2 STATE OF MINNESOTA DISTRICT COURT COUNTY OF ___________ ________JUDICIAL DISTRICT PROBATE COURT Court File No.: _______________ In re: Estate of PROTECTIVE ORDER FOR _______________________, INVESTMENT OF MINOR’S Decedent FUNDS ________________________________________________________________________ This matter came before the Court on __________. After considering the matter, the Court makes the following findings and order: 1. ______________, is a minor child entitled to a distributive share of the decedent’s estate in the sum of $______________. 2. The minor child was born on ___________ and will reach the age of majority on _________________. 3. __________________ is the parent and legal guardian of ________________. NOW, THEREFORE, IT IS ORDERED: 1. The Personal Representative is to make payment of $____________(not to exceed $2,000) to _______________________, the parents [custodian, or person, corporation, or institution with whom the minor child is] for the benefit, support, maintenance, and education of the minor child. 2. The Personal Representative is directed to invest the amount of $___________, the [current value/ balance] of the distributive share of the minor child, pursuant to Minn. Stat. § 524.3-915(b), by depositing it in an interest bearing, restricted/blocked account at [_______________,] a Federally insured financial institution (FDIC) [a savings account, savings certificate, or certificates of deposit in a bank, savings bank, or savings association], in only the name of the minor child. 3. The Personal Representative is directed to invest the amount of $ ________________, to purchase United States government savings bonds in only the minor’s name. The bonds are to be deposited with a financial institution in a safety deposit box [to be kept as provided by the court] and retained until the minor reaches the age of majority, unless otherwise authorized by an order of the court. 4. The Personal Representative or parent shall deliver a copy of the court’s order to the financial institution with the remittance for deposit. PRO601 State ENG Rev 5/16 www.mncourts.gov/forms Page 2 of 2 5. The Personal Representative or parent shall supply the financial institution with a tax identification number or social security number for the minor child, at the time of deposit. 6. The Personal Representative or parent shall file or caused to be filed, timely state and federal income tax returns on behalf of the minor child, as may be necessary. 7. The financial institution shall file the evidence of deposit with the ________________ County Court Administrator within 5 business days of deposit. The evidence of deposit must include a Receipt for Deposit of Restricted Funds Into Protective Account form, acknowledging receipt of this Order and the deposit, and that no disbursement of the funds will occur unless the court so orders. 8. The financial institution shall not make any disbursement from the account(s), except upon order of the court. The funds shall be placed in a restricted/blocked account and any evidence of deposit shall bear the instruction: “NO WITHDRAWAL OF PRINCIPAL OR INTEREST, EXCEPT BY ORDER OF THE COURT.” 9. The renewal period of the certificate of deposit shall be limited to the date of the age of the minor’s majority (___________________) (date). 10. Application for release of funds, either before or upon the age of majority may be made using the Petition for Release of Funds form. BY THE COURT: Dated: Judge of District Court

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