A Series I bond is a non-marketable interest-bearing U.S. government savings bond. It's a low-risk investment that earns a variable inflation rate adjusted every May and November and an interest rate fixed for the bond's life. The non-marketable feature means you can't sell or buy it in a secondary … [Read more...] about Series I Bonds: Minnesota Probate Attorney Reveals What You Need to Know
Minnesota Estate Administration
A Personal Representative, or Executor, of an estate is simply the person who is designated to carry out the wishes set forth in the decedent's will. This person also has the responsibility of finishing up the decedent's final affairs, such as paying outstanding bills and taxes. A Personal … [Read more...] about What Does a Personal Representative Do? | Minnesota Probate Attorney
The probate process can seem daunting, especially when navigating the myriad of assets left behind by a loved one. While many assets pass through probate, some bypass this legal process altogether. Understanding this distinction is crucial for beneficiaries and personal representatives. Let's … [Read more...] about Understanding Exclusions: What Assets are NOT Part of the Probate Process? Insights from an Minnesota Probate Attorney
Dealing with outstanding financial affairs after the loss of a loved one can be extremely difficult. Our Minnesota probate attorney often hear from clients who would rather do anything else than think about money after their loved one’s passing. Unfortunately, death comes with expenses, … [Read more...] about Minnesota Probate Attorney: How to Claim Death Benefits After the Loss of a Loved One
Probate in Minnesota is a process in which a court decides whether a will is valid or not. It’s also legally required in most cases for the management and distribution of a decedent’s assets with or without a will. This definition suggests that if you skip probate, there’s no way to legally transfer … [Read more...] about Skipping Probate in Minnesota? Here’s What Will Happen.
The executor of an estate plays a crucial role in managing and distributing a person's assets after they pass away. But what happens when the executor is making mistakes or failing in their duties of estate administration in Minnesota? It's a delicate and stressful situation, but one that can be … [Read more...] about When Your Executor Isn’t Meeting Expectations: How to Handle Mistakes in Estate Administration in Minnesota
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?”
Even if someone has a will in place, it’s still quite likely that his or her estate will need to be overseen by a good probate attorney in Minnesota. These professionals understand the incredibly complex process that goes along with closing out someone’s estate after he or she has passed … [Read more...] about Working with a Probate Attorney in Minnesota to Understand the Steps of the Process
Inheriting any assets from someone’s estate could benefit a person financially. However, it can also create some challenges. Cash and stock inheritances come with various advantages and disadvantages. Although they provide the funds someone might need to pay necessary expenses or grow their … [Read more...] about Is it Better to Inherit Stocks or Cash?