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
Minnesota Estate Planning
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
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
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
Minnesota Special Needs Lawyer: Why You Should Take the Time to Create a Legal Plan Now
If you have a child with special needs, you may be tempted to assume that if something happens to you or your partner, your other children will take care of their sibling. However, it's important to take the time now to create a legal plan for your child so that they are always protected no … [Read more...] about Minnesota Special Needs Lawyer: Why You Should Take the Time to Create a Legal Plan Now
Minnesota Estate Planning Lawyer Explains How to Navigate Estate Planning When Living in Two States
For many retirees, dividing time between two beloved locations is the dream. Known as "snowbirds," these individuals enjoy northern US states in the summer before flocking to warmer climes come winter. While this lifestyle has many advantages, it can significantly impact the distribution of … [Read more...] about Minnesota Estate Planning Lawyer Explains How to Navigate Estate Planning When Living in Two States
A Minnesota Probate Lawyer’s Guide to Managing Your Inheritance
Inheriting assets is a mix of honor and responsibility. As Minnesota probate lawyer, I've seen many people unprepared for the implications of managing their inheritance. The inclination to treat an inheritance as "bonus" money is common, but there are many pragmatic ways to use these funds for … [Read more...] about A Minnesota Probate Lawyer’s Guide to Managing Your Inheritance
Mortgages: What Happens After You Pass Away. | Minnesota Will and Trust Lawyer
Estate plans usually concern who will get what, like money, jewelry, the house, and family heirlooms after a person dies. Little thought, though, is given to what will happen to debts when they die; most importantly, the mortgage. Many people expect to pay off their mortgage long before they … [Read more...] about Mortgages: What Happens After You Pass Away. | Minnesota Will and Trust Lawyer
