When someone dies, they need a reliable personal representative to manage their estate. Whether your estate is large or small, this person needs to be effective at administration of your estate. Choosing the right personal representative (sometimes known as an...
When crafting an estate plan, consider the impact of charitable giving. Charitable contributions not only reflect your values but can also have significant implications for your estate. Ensuring a lasting legacy According to CNBC, only 33% of Americans have an estate...
Discussions on estate planning often revolve around those who are married. As an unmarried individual, you may think that estate planning can wait. However, life is full of unexpected twists and turns. Having a will in place may be more crucial for you than you would...
What is a trust, generally? A trust is an estate planning tool that allows an individual to transfer assets to a vehicle for the benefit of one or more beneficiaries. There are 3 major roles in a trust: Grantor/Owner/Creator/Settlor – This is the person, people, or...
When you begin to plan your Minnesota estate, you may have questions about whether your assets will go through probate. The probate process involves a court process for of asset distribution to your intended heirs. Review the probate requirements in Minnesota to...
Once a comprehensive estate plan is in place, you might think that your planning is complete but estate plans require periodic updating. Changing circumstances may require changes to your estate plan. As examples, changing circumstances regarding your family, your...
Drafting a will can be an essential part of the estate planning process and can make matters easier on your family upon your death. While you are not legally required to have a will, a will is an effective way for you to control how your property will be distributed...
Much like a home, a cabin is more than just a piece of real estate (and a potentially significant financial asset). It’s also a treasure trove of memories. Minnesota is at the heart of cabin country, and much of your family life may center on cabin life: swimming,...
When thinking about an estate plan, one of the most pressing concerns for many is the orderly transfer of assets to children, grandchildren or other family members and avoiding adverse tax consequences when their assets are distributed. One tool to consider is a...
