August 26, 2019

When beginning to prepare your estate plan, it's important to consider how much control you want to have over your beneficiaries. While an estate plan can be a great way to leave your legacy, you can also use it to influence the decisions of those you leave behind. 

For example, an inheritance may be held in trust until the beneficiary graduates from college or starts a business. Another common provision might be to require a p...

August 19, 2019

It’s that time of year again. Summer vacation is winding down, the kids are going back to school, extra-curricular activities are ramping up, the weather is (finally) cooling off, and the leaves are beginning to change. We recommend reviewing your estate plan every three to five years, or after a major life event. As you’re helping your children get ready for another busy year – and before the holiday bustle begins – now is a...

August 19, 2019

Minnesota law provides that if the value of the entire probate estate, determined as of the date of death, wherever located, including any contents of a safe deposit box, less liens and encumbrances, is less than $75,000, then interested persons (as defined by statute) can use a document called an Affidavit for Collection of Personal Property, sometimes also called a Small Estate Affidavit, to collect the personal property of...

August 14, 2019

The Minnesota ABLE (Achieving a Better Life Experience) Act was passed in 2015. The ABLE Act allows individuals disabled prior to age 26 to create tax-deferred savings and investment accounts.

In order to be eligible for an ABLE account, a person must be entitled to receive benefits (SSI or SSDI) under Title II or XVI of the Social Security Act, and such disability must have occurred before the date on which the individual turn...

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