Estate planning, elder law, family transitions, business planning – the legal issues that affect your family are always evolving. Jennifer writes regularly to keep you informed, educated, and empowered. Browse the latest articles below, or search by topic to find what you’re looking for.
When it’s time to start your estate planning process (that time is right now, by the way), entrepreneurs need to remember to take their small businesses into consideration. Whether you own the entire business outright and work for yourself or you simply own a portion of the entity, you will need to leave instructions for your family to follow. By...
What used to be called the “executor” of the estate is now known as the “personal representative.” The Personal Representative has a very big job of finishing up the decedent’s business, such as taking care of taxes and keeping the bills paid; not to mention the much more commonly recognized job of making sure the decedent’s wishes are followed when it...
Receiving an inheritance is both an honor and a responsibility, and estate planning attorneys constantly see individuals who are just not ready to take that on appropriately. Unlike items of sentimental value, such as jewelry or family heirlooms, a financial inheritance was likely meant to be used toward your own monetary goals. The temptation...
There are several reasons that a will may prove invalid. It is important for testators to be aware of these pitfalls in order to avoid them. Improper Execution The requirements vary from state to state, but most states require a valid will to be witnessed by two people not named in the will. Some jurisdictions require the document to be notarized as well....
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 foreign concepts. Two of the most common types of trusts used in...
When a person dies with a Will in place, a Personal Representative or Executor is named as the responsible individual for winding down the decedent's affairs. In situations in which a Will has not been prepared, the probate court will appoint someone to that role. Whether you have been named or appointed, the role comes with certain responsibilities...
The loss of a loved one is a difficult time, often made more stressful when one has to handle the affairs of the deceased. Certain tasks must be completed to administer the estate of the deceased. This may be a great undertaking or rather minimal work, depending upon the level of estate planning completed prior to death. First, it must be determined...
So, you have a will, but is it valid? A will can be contested for a multitude of reasons after it is presented to a probate court. It is in your best interest to have an attorney draft the will to prevent any ambiguity in the provisions of the document that others could dispute later. A will may be targeted on grounds of fraud, mental incapacity,...
Often estate planning focuses on the “big picture” issues, such as who gets what, whether a living trust should be created to avoid probate, and tax planning to minimize gift and estate taxes. However, there are many smaller issues, which are just as critical to the success of your overall estate plan. Below are some of the issues that are often overlooked...
A Personal Representative (also known as an Executor) is the person designated in a Will as the individual who is responsible for performing a number of tasks necessary to wind down the decedent’s affairs. Generally, the Personal Representative’s responsibilities involve taking charge of the deceased person’s assets, notifying beneficiaries and creditors,...
We live in a society where most of us carry at least some debt, right up through the end of our life. So what happens to this debt after death? Are you one of many Americans concerned that, rather than inheriting wealth from a loved one, you will instead inherit bills? The good news is, you probably won’t have to pay them. As you are dealing with the...
Even if someone has a will in place, it’s still likely that his or her estate should be overseen by a good probate or estate 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 away. Those who have worked with an estate planning lawyer can...