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...
I wrote the book on Minnesota probate.
Estate Planning
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An outdated estate plan leads to chaos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...
What are Letters Testamentary?
"Letters Testamentary" is a Minnesota court order appointing a person as personal representative or executor of the Will of a deceased person. The terminology "Letters" comes from Old English legal usage that meant a writ or order issued by a judge. "Testamentary"...
Can I Leave My Timeshare To My Kids?
Remember that fabulous vacation your family had to Florida, Mexico or some other vacation paradise far from Minnesota winters? While you were there, a charming salesman persuaded you to buy a timeshare in a condominium. (Of course, all timeshare salespersons are...
How Should Your Estate Plan Treat the Family’s Black Sheep?
Let's face it. Many families have a Black Sheep that has caused serious problems for the family and himself or herself. When it comes to working on your estate plan, you may do so with the goal of leaving as much of what you worked your whole life to obtain behind for...
Are you protecting your internet digital resources for you and your heirs?
If you are like most people, you are putting more of your digital life on the internet. You put memorable family pictures on Facebook or other social media. Your on-line banking and tax records are very likely saved on your computer. You scan important documents and...
3 mistakes when people choose life insurance beneficiaries
A Minnesota man made headlines when he faked his own death for the life insurance payment. Law enforcement arrested him abroad and brought him back to the United States to stand trial. While scams like this tend to make headlines, most people use their life insurance...
What is a Fiduciary and what amounts to a breach of duty?
A testator is a person who signs a Will for the distribution of his or her property after death. Typically the testator will nominate someone to be the executor or personal representative of the estate. This person is a "fiduciary" which means that person is handling...
Where should you keep estate planning documents?
It is never too early to create an estate plan. These documents need to include durable powers of attorney along with healthcare directives. You also need to make sure you update your will regularly as your life changes. Once you have an estate plan...