Drafting documents to talk about the guardian for your children and the distribution of your property after your death is a responsible choice. It is even more beneficial for you to also address the possibility of some medical emergency in the future where you don't...
I wrote the book on Minnesota probate.
Year: 2022
Dividing up family heirlooms (without dividing the family)
You’ve spent a lifetime building up your assets and your home is filled with curiosities, collections and family treasures. When you’re making your estate plans, dividing up the bank accounts, insurance policies and investment accounts is usually pretty easy. Dividing...
What does “being an executor” mean?
Did a family or friend recently begin estate planning and asked you to be their executor? If this is your first time hearing about an executor, you may be wondering what the role entails. An executor shouldn’t be confused with an executioner, which would pose all...
How strategic gifts can impact your estate tax risks
The federal government and the state of Minnesota assess estate taxes in some situations. When people die with millions of dollars in personal property, their estate will likely have to pay taxes based on the overall value of the estate. Exactly how much someone owes...
Preparing for Medicaid or medical assistance with estate planning
Now that you’re getting older, it might start making sense to update your estate plan more regularly and to make sure it is designed in a way that makes sure you have what you need in the case that you have to qualify for Medicaid or other medical services. Your...
2 warning signs of fraud influencing someone’s Minnesota will
A will is a powerful legal document that determines who inherits from an estate and possibly gives someone authority over minor children when their parents or guardians die. Individuals create wills to provide for their loved ones when they die and to have a lasting...
4 times you need to update your existing estate plan
Your estate plan helps protect your family and lets you sleep peacefully at night knowing you will leave no unresolved issues if you die. You may have invested many hours of careful consideration into the estate plan you created. It is normal to expect those documents...
Protect your furry friends with the right estate plan
No one wants to think about leaving behind their pets when they die. They also don’t want to imagine a time when they can’t be there to take care of them because they’re too ill or injured to do so. Unfortunately, those things do happen, and pets can end up being...
Warning signs that undue influence changed someone’s estate plan
For many families, reviewing someone's will or estate plan is a technical process. Everyone already knows what to expect, so there are no surprises in the early stages of estate administration. For a small number of families, the terms in the estate plan will come as...
3 solutions for your home in your estate plan
The equity you have built up in your home over the years is potentially your biggest source of personal wealth. It may be the most valuable thing you have to pass on to your loved ones when you die. Especially if you are now the sole owner of the home where you live,...