April 1, 2019

When we talk about estate planning, we often talk about who should inherit your assets after you’ve passed away. But what happens if you die with debt? Will your loved ones be responsible for paying back your debt?

The laws pertaining to the repayment of debt after death are defined by each individual state, but the basic rule in Minnesota states that the debt of person dies with him or her. In short, your estate is responsible...

January 8, 2019

With the aging population, estate planning has shifted to more than drafting a plan to devise your assets when you pass away. Planning for and protecting your assets from the high costs of nursing home and long-term care is a crucial issue that needs to be considered and evaluated in every estate plan.

Long-Term Care Facts

  • Seventy percent (70%) of people over the age of 65 will need some form of long-term care in their lives...

November 6, 2018

Since probate is a court process, all probate records are public records that anyone can read and access. Minnesota also has remote viewing of summarized probate records so that much of the information can now be found online from anywhere in the world.

June 19, 2018

A homestead is more than just a home. Homes are places where families have made memories over the years, a source of pride for the owners, and one of the largest financial investments a person will have. Understanding how a homestead will transfer upon your death is something that needs to be considered in advance.

Minnesota law has some special provisions for the disposition of a homestead after the death of an individual. A h...

May 25, 2018

Unfortunately, just because someone has a will does not mean that their estate will not go through probate.

What is probate?

Probate is the legal process of settling an estate after a person has died. A petition must be filed with the court and a personal representative must be appointed. The personal representative is responsible for: collection, inventory, and appraisal of assets of the person who died, protection of the estat...

April 17, 2017

Comedian Stephen Colbert popularized the term “truthiness”, defined to mean “the quality of seeming or being felt to be true, even if not necessarily true”.  For “probate”, truthiness abounds!  Here are three myths, and three truths about the probate and estate settlement process:

Many speakers at estate planning “seminars” will state the cost of probating an estate at 4-6% of the value of the estate: for a $1,000,000 esta...