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Posts tagged "estate plan"

Estate Planning For Minnesota Vacation Homes

What's Your Plan For The Vacation Home?

Whether it is a palatial estate where Rockefellers and Vanderbilts would feel at home or a rustic cabin in the woods complete with an outhouse, a family vacation home often carries sentimental value that doesn't show up on financial ledgers. That is all the more reason why owners of such homes should plan for the orderly transfer of the home for future generations.

Non-Traditional Families Are The New Tradition

Times Have Changed

Remember the TV sitcoms from the 1950s and '60s that are now being rerun on late night TV? The TV shows "Ozzie and Harriet" or "Leave it to Beaver" both told stories of families consisting of a husband and wife and their two children. These programs portrayed what is called the traditional family in America. That was years ago and things have changed a lot since then.

Mom Is Getting Married Again-Will I Lose My Inheritance?

A Minnesota Family Is Thinking About Mom

Today I'd like to tell you a story about a Minnesota family that is concerned about their mother. Three adult children, whom I'll call Judy, Jerry, and Jackie all live in the south metro area of the Twin Cities. Their Dad died a few years ago and their Mom has struggled with the loneliness from his passing. Over the past two years, Mom has been seeing a nice fellow at the senior citizens center where she lives. Recently Mom shocked her children when she announced that she and the new fellow, Hubert, plan to marry.

Non-Traditional Families Are the New Tradition

Times Have Changed

Remember the TV sitcoms from the 1950s and '60s that are now being rerun on late night TV? The TV shows "Ozzie and Harriet" or "Leave it to Beaver" both told stories of families consisting of a husband and wife and their two children. These programs portrayed what is called the traditional family in America. That was years ago and things have changed a lot since then.

Joint Account To Pay For Moms Care

Daughter Is Put On Elderly Mom's Bank Account

Putting a sibling's name on Mom's bank account can be a very bad idea. The solution seemed simple, as Mom was in poor physical and mental health. Daughter Amy was put on as a joint owner on Mom's $300,000 account. Amy's three brothers thought it was a good plan so that Mom's bills could be paid and her medical needs could be taken care of.

Who Gets To Use The Family Lake Cabin?

Using The Family Cabin

Mom and Dad have passed away, leaving the behind the family cabin. Now that summer has finally arrived, the cabin on Round Lake is ready for fishing, waterskiing and canoeing. You and your children have been eagerly awaiting the opportunity to spend some quality time together "Up North".

Estate Planning To Avoid Lateral Transfer Of Wealth In Blended Families

What Happens After You Pass Away?

When you die and if your spouse remarries, will your spouse's new husband or wife and the stepchildren inherit your children's share of the family inheritance? This may be difficult for some people to think about, but it is something that married couples may want to consider. This is especially true in an era where some people are living much longer lives.

6 Ways To Avoid Identity Theft

A Damaging Crime

One of the most heartbreaking of property crimes is the current wave of thefts of identity. This crime is humiliating and emotionally devastating to the victim and his or her family. Besides that, it is also enormously costly to the victim's family and reputation.

New Year's Resolution: Make or Revise Your Will

One And Done: Updating Your Will Is Easy!

The tough thing about most New Year's Resolutions is that they require daily exercise, financial management, dessert denial, or other great effort. On the other hand, the great thing about the Resolution to make a Will is that you only have to do it once every few years and the Resolution is accomplished!

What Is HIPAA?

What If This Happened To You?

You are in a car accident and you are knocked unconscious. You are taken to the hospital emergency room in Minnesota. Shortly after that, your daughter arrives and asks about your condition and what are your prospects. The nurse looks in your patient file and says to your daughter "I'm sorry but I can't tell you anything about that person's condition. I can't even confirm whether they are here." That can be a terrible shock to your daughter but the nurse is simply following the law.

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