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...
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...
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...
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...
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...
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...
For parents of children with disabilities, whether minor or adult, it’s a good idea to take the extra step of meeting with Minnesota special needs planning attorney. This gives you the opportunity to set up the best possible scenario for your child if you are no longer...
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...
A small business is a part of your identity, not to mention your livelihood. Business planning lawyers in Minnesota look to protect both aspects of this should you die or become incapacitated. Advanced planning is one of the smartest things that you can do to ensure...
Just as everywhere else in the country, folks in Minnesota often put off their estate planning for many reasons. Whether it’s facing your own mortality, or that of your parents, the prospect of needing a will or trust isn’t something that many of us want to think...
Whether you’re a single senior who lives alone or one who lives with a partner, establishing a new estate plan or modifying an existing one is essential. You might wish to leave assets to your partner that they could not get through intestate succession, or maybe you have...
A Special Needs Trust (also called a Supplemental Needs Trust) is a legal document that holds assets for a person with disabilities, while also providing legal authority for a trustee to manage money and make financial decisions on behalf of the individual with special needs....