You can donate retirement accounts, such as an IRA, by distributing the proceeds to charity. However, the tax benefits for donating this way are minimal. A tax-efficient donation strategy is to contribute your retirement fund directly to a charitable organization as part of your estate … [Read more...] about How to Make a Charitable Bequest with an IRA
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Wedding Bells Later in Life? What Newlywed Seniors Need to Know About Their Estate Plans
Some seniors don’t expect to remarry after a divorce or the death of a spouse. However, life is full of surprises. You could meet someone at any age, even during your retirement years. Many older adults bring various assets and debts into a new relationship. They might also have children from a … [Read more...] about Wedding Bells Later in Life? What Newlywed Seniors Need to Know About Their Estate Plans
Service Dogs: A Lifeline for Families with Disabled Children
Service dogs are specially trained to provide assistance to children with disabilities. They can be taught to support kids in a variety of unique ways that help with daily living and even help in an emergency situation. For families with disabled children, service dogs can be a lifeline. The … [Read more...] about Service Dogs: A Lifeline for Families with Disabled Children
“What Is Portability in an Estate Plan?”
Federal estate tax law includes a provision called portability. This provision only applies to married couples. It allows the surviving spouse to use any part of their deceased spouse’s unused estate and gift tax exemption. Including portability in an estate plan protects the surviving spouse … [Read more...] about “What Is Portability in an Estate Plan?”
Monticello Trust Lawyer on the Elements of a Valid Trust
When creating a trust with a Minnesota trust lawyer, it is important to understand the specific roles involved. The grantor is the person who establishes a trust. The designated beneficiary is the person who receives the assets held in trust when the grantor dies. Probate is unnecessary because … [Read more...] about Monticello Trust Lawyer on the Elements of a Valid Trust
TOD Beneficiary: What You Should Know
Your named beneficiaries will likely have to go through probate to receive your real property after your death if it is only in your name and not held in trust. Although transferring property into trust can ensure your family does not have to wait for a judge to validate your will before … [Read more...] about TOD Beneficiary: What You Should Know
Finding the Right Minnesota Elder Lawyer to Plan for Long-Term Care Needs
The Baby Boomer generation is growing older and beginning to incur the financial costs and strains of aging. Many are caring for their own elderly parents while beginning to recognize long-term care challenges of their own. Boomers are also starting to learn first-hand that long-term care is … [Read more...] about Finding the Right Minnesota Elder Lawyer to Plan for Long-Term Care Needs
Elder Lawyer Answers, “When should I start planning for long-term care?”
One of the most frequently asked questions elder lawyers receive is, “When should westart planning for long-term care?” The short answer is, “Long before you need it!”When it comes to your home, your health, and your finances, you want to be in the driver’s seat. That is why it is so important to … [Read more...] about Elder Lawyer Answers, “When should I start planning for long-term care?”
Year End Stress Test For Your Estate Plan | Monticello Estate Attorney
If you have a properly executed will or trust in place, good for you! You’ve taken a great step toward protecting your assets for future generations. But, establishing an estate plan is only the first step. You still need to make sure that your plan will stay rock solid by keeping it up to … [Read more...] about Year End Stress Test For Your Estate Plan | Monticello Estate Attorney
