As our family members age, taking care of their financial and medical needs becomes increasingly important. Having conversations about the realities of aging early on can help ease the emotional stress that comes with it - providing a cushion for both you and your loved ones in case any conditions … [Read more...] about Financial Strategies for Caring for Aging Loved Ones
Millennials: Don’t Overlook the Need for Early Estate Planning!
Are you in your twenties or thirties? You’ve probably heard about the importance of Wills and Trusts by now, but you may feel like you’re still too young or just don’t have enough assets to warrant any estate planning yet. As a Minnesota will lawyer, I can tell you that it’s a huge mistake thinking … [Read more...] about Millennials: Don’t Overlook the Need for Early Estate Planning!
Is Your Elderly Loved One Showing These Signs of Diminished Capacity? Here’s What You Can Do
As our loved ones age, it's not uncommon for them to experience a decline in mental abilities that can make it difficult for them to manage their finances effectively. If you have an older loved one, it's important to be aware of the signs of diminished capacity so that you can take action to help … [Read more...] about Is Your Elderly Loved One Showing These Signs of Diminished Capacity? Here’s What You Can Do
I’ve Been Named as Someone’s Successor Trustee. Can I Turn Down the Job?
As part of the estate planning process, Minnesota trust attorneys will always encourage clients to have open conversations with the person they intend to appoint as their Successor Trustee to ensure that they actually want the job if called upon. There are many responsibilities that a Trustee … [Read more...] about I’ve Been Named as Someone’s Successor Trustee. Can I Turn Down the Job?
Can an Email Serve as My Last Will and Testament?
When it comes to estate planning, many people wonder if they can simply write their wishes down in an email and have it be considered a legal Last Will and Testament. While it's true that technology has made it easier than ever to communicate our wishes and desires, an email is not typically … [Read more...] about Can an Email Serve as My Last Will and Testament?
Tips When Choosing a Guardian for your Children
Helping parents to choose a guardian who can raise their children in the event of an untimely death is one of the most important jobs a Minnesota estate planning attorney has. Rather than leaving the decision to a judge (who may choose guardians the parents would never want), working with an … [Read more...] about Tips When Choosing a Guardian for your Children
Why a Last Will and Testament Does Not Make a Complete Estate Plan
While the Last Will and Testament is an important estate planning tool, Minnesota trust and estates lawyers want clients to be aware that there are certain things it won’t accomplish. To start, a Last Will and Testament will only come into effect after you’ve passed away, which means that it cannot … [Read more...] about Why a Last Will and Testament Does Not Make a Complete Estate Plan
How to Make a Charitable Bequest with an IRA
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
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