May 7, 2020

There are several local employers who are now offering ARAG legal insurance to their employees. If you have coverage, you likely had to sign up for the plan during open enrollment in November, with benefits starting in January 2020. As a plan member, you have coverage for a variety of legal matters. 

Attorneys Alyssa Jerde and Maggie Cook are now Network Attorneys with ARAG and are providing Estate Planning services through the...

June 17, 2019

A Minnesota transfer-on-death deed (a “TODD”) is type of deed that transfers ownership of real estate effective only upon the grantor’s death. Think of a transfer-on-death deed as analogous to adding a beneficiary designation to your real estate, just as you would a life insurance policy or a bank account. We’ve covered more of the basics of using a transfer on death deed here.

In order to be effective, a transfer-on-death deed...

May 16, 2019

By default, everyone has an estate plan. There is a common misconception that only the wealthy need an estate plan, but the bottom line is that one way or another, your assets will pass to another person or group of people at your death.

There are a few primary ways assets pass upon death: (1) joint ownership, (2) beneficiary designations, (3) testate/intestate succession (probate), or (4) a trust.

Assets owned jointly with anot...

March 1, 2019

The single biggest asset many people have is their home, and in today’s real estate market, it’s not unusual to make a profit on the sale of a home. But if you sell your home for more than your basis in the property, you could face substantial capital gains tax.

Capital gains is calculated by taking the difference between your basis in the property and the sale price. Your basis in the property is typically the amount that you...

September 12, 2018

When we sit down to create an estate plan with our clients, we’re looking at the big picture. We’re looking at what we can do to reduce or avoid estate taxes, provide for a surviving spouse and minor or disabled children, avoid probate or excessive court filing fees, and mitigate potential family feuds. An improperly executed estate plan can end up costing you more in attorney’s fees, court costs, and taxes than it would have...

July 24, 2018

As my estate planning practice continues to grow, I’ve had the pleasure of meeting many different types of people. My clients come to me at various stages of life, with a diverse range of assets, family situations, health issues, and histories. Despite these differences, I’ve noticed a common theme among my clients: many of them tell me they’ve waited way too long to complete their estate plan, and, after we’ve signed their do...