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...
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Estate Planning
Whom can you trust with your estate
When most people think about estate planning, they spend a long time considering how they want to leave their assets. However, if you do not put the same amount of thought into choosing the personal representative who will administer the estate, you may be putting...
Can I Stop My Kids From Fighting After I Die?
You may already be aware that the death of a relative can bring out raw emotions in most people. Some may withdraw or prefer to remember their loved ones in solitude. Others might let negative emotions take hold, including anger or entitlement. You and other Minnesota...
Should I Rip Up My TRUST?
If you have a family Trust, it may be serving your family and your finances well. On the other hand, the Trust may be needlessly costing your family a large amount of money now or in the future. In that case, you should consider dissolving the Trust. When establishing...
Estate Plan Should Include Nursing Home Option
No one likes to think about having to enter a nursing home. The idea can seem especially unfathomable when you are in good health, no matter your age. However, the odds that you will never have to go into a nursing home are not something you want to gamble with....
Estate Plan Fit for a Prince?
During his lifetime, the late and great Prince of Minnesota had amassed what many expect to be a very significant estate. According to Forbes.com, estimates suggest Prince's net worth is over $300 million. Prince smartly took measures protecting his ownership rights...
Should we put one of the kids on a joint account with Mom or Dad?
When Mom or Dad is in failing health, the adult children may think it is a good idea to put one or more of them on the parent's account and make it a joint account. The idea is that the child can deposit the parent's income, pay their bills and divide up the account...
Estate Planning After Divorce
If you are getting a divorce from your spouse, you have a lot of planning to do. You will need to name your own beneficiaries, organize your divided assets, and set up your individual property. It is vital that you meet with a qualified attorney to discuss the...
Could Your “Ex” Get Paid Your Life Insurance?
If you choose your spouse as beneficiary and later get divorced, could he or she receive the proceeds from your life insurance policy? "Yes" said the U.S. Court of Appeals recently in a case involving a Minnesota insurance policy. Mark Sveen bought a life insurance...
The Most Important Conversation With Your Parents
When we were young, our parents sat us down and talked about important subjects including family, school, friendships-and sometimes sex. Now the roles are reversed and we need to talk to our parents about their major issues of life and death. A most important book is...