When a loved one passes away, you may find that they lack an estate plan. This document would have detailed their intentions for disbursing their property upon their passing. Without one, you will likely find yourself confused about where their assets will go. The...
I wrote the book on Minnesota probate.
Estate Planning
Providing for your children after remarriage
If you have children from a first marriage, entering into a second or third marriage has implications for their ability to inherit your estate. If you die without a will in Minnesota, your spouse will receive the first $225,000 in assets from your estate plus half the...
Blended families, estate planning and the family home
Many people put off estate planning. Perhaps they prefer not to think about death while they are young and healthy. The old saying goes, “failing to plan is planning to fail.” That is a very accurate statement when it comes to estate planning. If people in your life...
Estate planning mistakes even celebrities make
Establishing, maintaining and updating, when necessary, a Minnesota estate plan represents one of the most loving things you can do for your family. It also represents the one sure way by which you can make your preferences known. Unfortunately, many people, including...
Undue influence may invalidate your loved one’s estate plan
If you have an aging father, you may have had a few conversations about his end-of-life wishes. For a variety of reasons, creating a comprehensive estate plan is an effective way to ensure your parent keeps some control over what happens to assets after death. Still,...
Keeping a family business in the family
It is many business owner's or founder's wish to pass the company along to their children. It often becomes even a more critical issue when a company has been in the family for multiple generations. In decades past, the transition of ownership was simply something...
Man caught after faking his death
There have been many sensational news stories and countless movies over the years involving people faking their own death. There is the classic premise to avoid capture by fellow thieves or law enforcement. However, a man who once called Plymouth, Minnesota, home did...
Estate planning for blended families
The U.S. divorce rate has gone down in recent years, but it is still over 40%. This means that many of us have parents on a second (or third) marriage, some of which lasted longer than the first one with children. So as couples get their affairs in order, it is likely...
The do-it-yourself disorderly disaster
Corporate owners in many occupations proudly display the fruits of their business acumen. The auto dealership owner drives a Ford Shelby. The dentist dazzles his friends with a bright, white smile. The jeweler's wife wears a 6-carat flawless diamond wedding...
An outdated estate plan leads to chaos
Legendary musician Barry White left behind more than just a legacy of iconic music. His estate planning blunder became a cautionary tale to others in his position. The lesson is clear: Do not wait too long to make changes to your will, especially if your health is...