Estate planning is a crucial topic, but it's often cloaked in sensitivity, especially when older loved ones feel that their finances are private matters. Knowing how to navigate this conversation respectfully and effectively is crucial. Why It MattersHaving a will and comprehensive estate plan … [Read more...] about Broaching the Sensitive Topic of Estate Planning: Guidance from a Minnesota Will Attorney
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Minnesota Trust and Estates Attorney: How to Properly Choose Beneficiaries
An essential part of estate planning is designating beneficiaries for your life insurance policy, 401(k), and other financial accounts. A beneficiary is a person who receives someone's assets upon their death.There is no "correct choice" when choosing the beneficiaries who will inherit from you. … [Read more...] about Minnesota Trust and Estates Attorney: How to Properly Choose Beneficiaries
Understanding ‘Community Spouse’ in Medical Assistance Context: A Guide from a Minnesota Elder Law Attorney
When navigating the intricacies of Medical Assistance, particularly when planning for long-term care, you'll encounter terms that might be unfamiliar yet profoundly influential. One such term is "community spouse." As your local Minnesota elder law attorney, I'm here to demystify this concept and … [Read more...] about Understanding ‘Community Spouse’ in Medical Assistance Context: A Guide from a Minnesota Elder Law Attorney
How to Help Seniors Find Joy During the Holidays
The holiday season is joyous for many. However, it can be overwhelming if you care for an older adult. People in their senior years often feel isolated from the outside world if they can't participate in certain festivities. Maybe they used to be active and loved playing with their kids and … [Read more...] about How to Help Seniors Find Joy During the Holidays
Minnesota Will and Trust Lawyer Answers, “How Often Do I Need to Update My Estate Plan?”
Creating an estate plan feels like something you check off a to-do list. Once the task is complete, you can move on and forget about it. However, that is not the mentality you should take when drafting your final wishes. An estate plan should reflect your current circumstances and should be … [Read more...] about Minnesota Will and Trust Lawyer Answers, “How Often Do I Need to Update My Estate Plan?”
Understanding the ‘Step-Up in Basis’ When Selling Inherited Assets: Insights from Minnesota Estate Planning Attorney
Inheriting an asset can be a mixed blessing. While it might signify a meaningful bequest from a loved one, it also comes with its own tax implications. One of the most significant tax features to understand when inheriting property is the "step-up in basis". As a Minnesota estate planning attorney, … [Read more...] about Understanding the ‘Step-Up in Basis’ When Selling Inherited Assets: Insights from Minnesota Estate Planning Attorney
Caring for a Veteran? Minnesota Elder Attorney Suggest These Programs for Help
A recent survey counted over 18.2 million American Veterans over age 65. Many of these Veterans include those who served in World War II, the Korean War, the Vietnam War, and the Persian Gulf War. Suppose you are caring for an elderly Veteran. In that case, you should know about the … [Read more...] about Caring for a Veteran? Minnesota Elder Attorney Suggest These Programs for Help
Can I Get Tax Deductions from Assisted Living Expenses
Seniors and their families are left at a disadvantage as the costs of assisted living facilities continue to rise. While it may sometimes seem like there is no relief from these rising care costs, there may be a way for families to get a bit of relief in the form of tax deductions. Medical expenses, … [Read more...] about Can I Get Tax Deductions from Assisted Living Expenses
Estate Planning Considerations for Families with a Wide Age Gap Between Children: Insights from a Minnesota Estate Planning Lawyer
When there's a significant age difference between your children, estate planning can require extra attention to detail. You're not only considering their immediate needs but also forecasting the challenges each child may face at different life stages. As your Minnesota estate planning lawyer, I'm … [Read more...] about Estate Planning Considerations for Families with a Wide Age Gap Between Children: Insights from a Minnesota Estate Planning Lawyer
