May 15, 2020

Everyone has an estate plan. Even if you have never been to visit an estate planning attorney, the assets that you own will - one way or another - find their way to someone else upon your death. There are, in general, three basic ways that assets pass after someone has died. Proper estate planning takes all of these into account to ensure your wishes are followed. 

An effective estate planning attorney can ensure your assets ar...

April 17, 2020

The harmless error rule gives us a little more space to work with clients to get their critical estate planning documents completed right now. As shown by how the law has been interpreted in other jurisdictions, the new law does not make proper estate planning less of a factor. Arguably, it makes it all that more important to help underscore the testator's intent and meet the clear and convincing standard set forth in the...

February 14, 2020

There are many ways to express love for your special Valentine. While roses and chocolate are always a good standby, estate planning can also be from the heart. An "I Love You" will is a common type of will that is used by estate planning attorneys for married couples.

What is an "I Love You" will? 

"I Love You" wills are basically a set of wills in which each spouse leaves everything they own at their death to the surviving spo...

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...

January 1, 2019

With a new year come new estate tax exemption rates. Although estate and gift taxes are sometimes thought of as taxes that do not change that much, that has definitely not been the case in recent memory. In fact, there have been fairly significant changes to either Minnesota or federal estate and gift tax exemptions, rates, and deductions every year for the past several years. We are not expecting any major changes in 2019, bu...

October 3, 2018

“If something happens to you, what happens to your children?”

It’s a question no parent wants to think about, but it’s an important one to answer for parents who have minor children. Minor children are not granted full legal capacity until the they reach the age of majority, currently 18 years of age in Minnesota. This means that until the age of 18, children do not have the right to vote, own property, consent to medical treat...