Leaving a cabin or vacation home outright to your loved ones can create more family conflict and problems than you might think. While the property may have been a peaceful haven for you and your spouse throughout the years, your children may not look at it the same way when it becomes theirs to … [Read more...] about How To Avoid Conflicts When Passing Down The Family Cabin
Families who have members with special needs have a variety of unique concerns. Whether you’re traveling to occupational therapy appointments, choosing the most effective medical devices, or contemplating whether to “mainstream” your special needs child, there are so many parts and pieces to keep in … [Read more...] about Things to Consider When It Comes to Special Needs Planning in Minnesota
Central Minnesota wills and trusts lawyers see just about every circumstance which results from a parent’s death. Some siblings handle the wills and trusts administration gracefully and with dignity, while others turn to squabbling and pettiness. When we work with our clients, they are often very … [Read more...] about How Do You Treat Children Fairly When It Comes to Estate Planning?
The world of estate planning can be complex. If you have just started your research or are in the process of setting up your estate plan, you’ve likely encountered discussions of wills and trusts. While most people have a very basic understanding of a last will and testament, trusts are often … [Read more...] about Testamentary v. Inter Vivos Trusts
Today, blended families have become increasingly common, and many individuals have stepchildren. In situations where stepchildren have not been legally adopted, however, they do not have a legal right to an inheritance from a stepparent. For those who wish to leave stepchildren part of their estate, … [Read more...] about How to Leave to Stepchildren
Many individuals are aware that a Will is one way to plan for the distribution of their assets after death. However, a comprehensive estate plan also considers other objectives such as asset protection. For this reason, it is essential to consider utilizing an Irrevocable Trust. This estate … [Read more...] about A Primer on Irrevocable Trusts
Life insurance can be an integral part of an estate plan. Policies can be set up to be paid directly to the beneficiary, without the need to pass through the estate. Having a life insurance policy ensures that some assets will be liquid, so that debts and expenses can be paid quickly and easily … [Read more...] about How does life insurance fit into my estate plan?
For many people, retirement savings accounts are among the largest assets they have to bequeath to their children and grandchildren in their estate plans. Sadly, without professional and personally tailored advice about how best to include IRAs in one’s estate plan, there may be a failure to take … [Read more...] about Common Estate Planning Mistakes Regarding Individual Retirement Accounts (IRAs)
Properly drafted estate planning documents are integral to the success of your legacy and end-of-life wishes. Iron-clad estate planning documents, written by a knowledgeable attorney can make the difference between the success and failure of having your wishes carried out. However, there’s more to … [Read more...] about People. The Essential Component of Your Estate Plan’s Success