Do you remember back when you were a child and Mom or Dad would read you a bedtime story? As you were tucked into bed, all sorts of characters and creatures would float through your imagination. Often, these stories held an important lesson or message for kids. However, there are lessons for adults in these stories as well. In today's episode of "Estate Planning by the Book", we will examine the story of Jack and the Beanstalk.c
When a Loved One passes away, it can be a challenging time for many families. Let me tell you about a Minnesota family. A couple I will call Mark and Michelle live in Shakopee. Michelle's father Samuel was an old farmer who still had his family farm just outside Mankato.
When a Loved One passes away, it can be a challenging time for many families. Let me tell you about a Minnesota family. A couple I will call Mark and Michelle live in Shakopee. Michelle's father Samuel was an old farmer who still had his family farm just outside Mankato.
Did you know that thousands of Minnesotans have Trusts that are ticking time bombs for their families?
Over the past decade, thousands of unmarried couples purchased homes together. While they may have started off with high hopes, many of them broke up and decided to go their separate ways. However, what happens to the house, now that the two people are no longer together? Is there any way for a person to get their money back from their ex-boyfriend or ex-girlfriend?
One of the more interesting legal tools I've used is called a partition. Simply put, a partition legally splits an asset or property amongst owners who are in a disagreement on how to handle it. Let me explain with a couple of examples.
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 designated child can deposit the parent's income, pay their bills, and divide up the funds in the account between their siblings when Mom or Dad dies.
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.
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.
This is Part 2 our my series "What Should I Do After Someone Dies". You can view part one (Steps 1-5) here. Though it may be hard to take action after a Loved One passes away, it is important to take care of certain matters to protect the estate and keep it safe from crooks.
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