Estate Planning

For many individuals in Minnesota, the benefits of estate planning on personal assets are clear. However, proper planning can be equally important to protect the ongoing longevity of a business. When a business owner passes away, it can be far too easy for a company...

The new Tax Cuts and Jobs Act raised the federal estate tax exemption to $11 million for individuals throughout Minnesota and the rest of the U.S. Married couples can combine their individual exemptions to protect up to $22 million in assets. Therefore, estate...

Some families in Minnesota might become embroiled in disputes over an estate plan if there are stepparents and stepchildren involved. According to one study, only about 20 percent of adult stepchildren say they are close to their stepmothers. Women also have longer...

When it comes to estate planning, the last thing you want to do is make a mistake. If this happens, it could have a negative impact on your family in the future. Fortunately, even if you have made an estate planning mistake in the past, it doesn't necessarily mean you...

In most cases, Minnesota residents will use the family members who live closest to them as trustees. This person is typically an adult child or other family members who a person has a positive relationship. However, there are scenarios in which a person doesn't have...

People in Minnesota should consider signing powers of attorney so that their needs may be taken care of if they are incapacitated and unable to take care of themselves. A power of attorney is an estate planning tool that can be used to grant power to another trusted...

Making the decision to start a family is a big one. As you plan the nursery and purchase all the "must haves" for your little bundle of joy, you should also set up an estate plan that has your child's future in mind. Estate planning helps to ensure that your child...

Minnesota residents who collect valuable art can make provisions in their estate plan regarding their collections. However, many of them fail to properly plan for what should happen with the art after they die. With the proper planning, conflict and litigation between...

Minnesota residents may be taken aback to hear the phrase "death cleaning". However, in fiscal terms, it simply means taking steps to simplify and organize a person's financial life. This may make it easier for an individual to manage money while alive and easier for...

For people in Minnesota concerned about the future of their homes, a detailed estate plan can be an essential part of planning for homeownership. Many couples own their homes as joint tenants with rights of survivorship, meaning that each person will take on the full...