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Estate Planning For Minnesota Vacation Homes

What's Your Plan For The Vacation Home?

Whether it is a palatial estate where Rockefellers and Vanderbilts would feel at home or a rustic cabin in the woods complete with an outhouse, a family vacation home often carries sentimental value that doesn't show up on financial ledgers. That is all the more reason why owners of such homes should plan for the orderly transfer of the home for future generations.

When Couples Separate But Do Not Divorce

Unique Circumstances For Separated Couples

Every year, millions of married couples decide to go their separate ways. While their reasons may vary, some couples choose to live apart but do not go through the divorce process. Regardless of the reason, couples who separate but do not divorce can face unique circumstances if one of them passes away.

What Should I Do After Someone Dies? Part 1

My Loved One Just Passed Away, What Should I Do?

When a Loved One dies, the shock and anxiety can paralyze a family. Often things which should be done right away are ignored while the family is coping with its grief. However, preventive steps taken now can avoid regret later. Here are steps 1-5 on our Ten Things To Do In The First 24 Hours After Someone Dies series.

My Stepfather Is Stealing My Inheritance!

A Tale Of A Minnesota Stepfamily

Here is a tale about a Minnesota stepfamily, which can happen all too often in reality. After Dad passed away, Mom lived by herself for a while and eventually met someone new. Six years ago, she remarried; this time to a man who was very different from her first husband. Her two adult children, Jeff and Jenny, did not get along with their new stepfather Seth, Mom's second husband.

Joint Account To Pay For Moms Care

Daughter Is Put On Elderly Mom's Bank Account

Putting a sibling's name on Mom's bank account can be a very bad idea. The solution seemed simple, as Mom was in poor physical and mental health. Daughter Amy was put on as a joint owner on Mom's $300,000 account. Amy's three brothers thought it was a good plan so that Mom's bills could be paid and her medical needs could be taken care of.

What Happens When The Personal Representative Dies?

The Importance Of The Personal Representative

The Personal Representative (also known as the Executor) is responsible for many of the activities in the Minnesota probate process, including collecting the assets, organizing the estate, distributing assets, and communicating with the probate court. While the family and friends are dealing with the loss of a loved one, this person is managing the decedent's estate. What happens, then, when the Personal Representative dies? (

Senior Woman Wants To Protect Her Estate After New Marriage

Senior Woman Meets New Man

Elizabeth is a senior woman. She is a very independent person and has been diligent in saving money throughout her entire life. Her husband Albert died five years ago. After his passing, Elizabeth was very lonely until she met Ronald, whose wife Audrey died three years ago.

Estate Planning To Avoid Lateral Transfer Of Wealth In Blended Families

What Happens After You Pass Away?

When you die and if your spouse remarries, will your spouse's new husband or wife and the stepchildren inherit your children's share of the family inheritance? This may be difficult for some people to think about, but it is something that married couples may want to consider. This is especially true in an era where some people are living much longer lives.

What Is A Living Will / Health Care Directive?

When You Go To A Minnesota Hospital

When you are taken to a hospital in Minnesota from an accident or illness, it may be too late to prepare the documents to assure you the care you want or to provide access to your medical information for your loved ones. This could create a major issue when your family is faced with making a decision on the type of treatment you receive.

New Year's Resolution: Make or Revise Your Will

One And Done: Updating Your Will Is Easy!

The tough thing about most New Year's Resolutions is that they require daily exercise, financial management, dessert denial, or other great effort. On the other hand, the great thing about the Resolution to make a Will is that you only have to do it once every few years and the Resolution is accomplished!

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