Though the thought is a terrible one, it’s also not unheard of: a couple dies together in a horrible accident with no will to handle the distribution of assets. While the case is certainly tragic and estate planning would likely not be the first issue to spring to mind, the fact is the case presents…
Category: Estate Planning
Minnesota Estate Planning: What Makes A Will Invalid?
We’ve discussed the idea of challenging the validity of a will before, including some creative ways to prevent such challenges like no-contest clauses. This time let’s discuss the subject of a will’s validity but from another side, let’s focus on some of the issues that can make a will invalid and how to avoid them….
The Importance Of A Will In Minnesota
Here’s a disturbing fact: approximately 70% of Americans don’t have a will. A Minnesota will is a relatively simple document to draft so why is it that so many people avoid it? Just a few of the common excuses for not having a will include: I don’t have anything worth leaving to my family; I’ve…
What’s a living trust and how does it work in Minnesota?
Though Minnesota estate-planning terminology can sometimes be opaque to those not in the business, a living trust is an example of something that is just what it sounds like it is. The term “living trust” refers to those trusts that are created while you are alive (also known as “inter vivos” trusts) rather than ones…
Minnesota IRA Investment: Be careful who you give your money to
Anybody who is considering how to structure their Minnesota IRA Investment, should think twice about who they are giving their money to. Bad Investments, Ponzi-Schemes, and Unscrupulous Companies I was recently made aware of an article written in the Minneapolis Star Tribune about a potential ponzi-scheme-like investments right here in Minneapolis. Another Minnesota estate planning…
Estate Planning | What to do with an inheritance
Disclaimer: this article and all content related to it will not be able to tell you what to do with your inheritance. Now that the disclaimer is out of the way, I would hope that any person who has inherited a large (or even small) amount of money had a plan for what they want…
Probate Law | What is Ademption?
In the field of estate planning and probate law, the legal doctrine known as “ademption” is an important construct to understand. You should speak with a good estate planning lawyer in your state for further information about the laws where you live. The basic definition of ademption is provided once again by my favorite law…
Probate Law | First Steps to Take After a Loved One’s Death
Many questions arise in the mind of a probate lawyer when a potential client first calls the attorney’s law office. The efficient handling of a client’s concerns helps to minimize delays and errors when the estate is administered. Often, lawyers are contacted by grieving family members a short time after a loved-one’s death. Common questions…
Probate Law | State Interest in Just and Speedy Probate Administration
There is no federal law of probate or estate administration. That isn’t to say that federal law doesn’t play a role. It does – mainly in the form of estate taxation. However, the laws related to how a probate estate is administered are enacted by the states. Every state has slightly different laws related to how…
Estate Planning | Retirement Plans in Trouble as People Struggle to Pay Down Debt
Ok. I know the economy stinks. Not only does it stink in the United States, but it stinks throughout the world. An article out of the U.K. demonstrates the point as author Sion Barry writes in Wales Online that people are not thinking about their retirements plans. Instead, they are worried about debt. Mr. Barry makes…