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.
Your family-owned business is not just one of your most significant assets, it is also your legacy. Both must be protected by implementing a transition plan to arrange for transfer to your children or other loved ones upon your retirement or death. More than 70 percent of family businesses do not survive the transition to the next generation. Ensuring your...
Many people own a family vacation home--a lakeside cabin, a beachfront condo--a place where parents, children and grandchildren can gather for vacations, holidays and a bit of relaxation. It is important that the treasured family vacation home be considered as part of a thorough estate plan. In many cases, the owner wants to ensure that the vacation home...
Every year, each individual who dies in the U.S. can leave a certain amount of money to his or her heirs before facing any federal estate taxes. For example, in 2016, a person who dies could leave $5.45 million to his or her heirs (or a charity) estate tax free, and everything over that amount would be taxable by the federal government. Transfers at death...
#1 Establish a Comprehensive Plan Most estate planning attorneys will say that no person should use a “do-it-yourself” will kit to establish their estate plan. If you have a child with special needs, it is extremely important to seek competent legal counsel from an estate planning lawyer with special needs planning experience before and during the process...
Many people are confused by advance directives for health care. They are unsure what type of directives are available, and whether or not they need need directives at all, especially if they are young. There are several types of advance directives. One is a living will, which communicates what type of life support and medical treatments, such as...
If you are married for the first time and are working on your estate plan, the decisions about where the assets go are usually easy. Most parents in that situation want their entire estate to go to the surviving spouse, and upon the death of the surviving spouse, equally to their children. There may be difficult decisions about who will serve as guardians...
“I just need a simple will.” It’s a phrase estate planning attorneys hear practically every other day. From the client’s perspective, there’s no reason to do anything complicated, especially if it might lead to higher legal fees. Unfortunately, what may appear to be a “simple” estate is all too often rife with complications that, if not addressed...
Just as you begin to relax after the hustle and bustle of the holiday season, it hits you. It’s tax time! For most people tax time brings up images of boxes of random receipts and hours of searching for documents. Trying to get ready to do your tax return or organize for that yearly meeting with your tax preparer is a necessary evil. What if you could...
How much does it cost to have an attorney do your Will? I see this question fairly often and while it seems like a very easy question, there is no easy answer. Keep in mind the legal field is notoriously bad about publicizing information on legal fees. Law firm websites rarely contain information on what or how they charge for websites. Even between...
Having an estate plan that does what it is meant to do requires a little maintenance. Conducting an estate plan audit at least once every three years can save you (and your family) a lot of stress and heartache. To conduct an audit, just follow these steps. If you have any questions, be sure to schedle an appointment with your estate planning attorney....
Probate is not scary. There is a common misconception (often used to sell more expensive trust-based plans) that probate is scary and expensive. Probate can be a routine process and in some cases probate may be easier and cheaper than other options. A will does not prevent probate. A will on its own does not transfer property. The will must be submitted to...
When a couple is planning their wedding nobody wants to think about divorce. But as a divorce attorney I commonly hear clients say "Why is X happening in the divorce? I wish I would have known that before." I can't help but wonder if we would have happier marriages, and easier divorces, if couples could take a session on Minnesota divorce along with...