Almost immediately after actor James Gandolfini (“The Sopranos”) passed away back in June of 2013, many critics claimed he had made serious estate planning errors. Since he did not use a Pour-Over Will (and trust accounts) to distribute all of his alleged $70 million estate, some thought that “close to 80 percent of the assets…
Tag: Probate
Minnesota Estate Sales: Parting with Family Treasures
After a loved one passes away, you’ll eventually have to part with some of that person’s possessions and keepsakes. Many survivors believe this time reawakens deep pain. In a recent New York Times article, a man who had just arranged an estate sale said, “It was almost like another form of grieving.” Fortunately, there are…
Domicile, Probate Venue, and a Decedent’s county of residence at death
When people age, they may move to or be placed into a nursing home which is not in the county where that person intended to reside permanently. This creates an question as to the meaning of the word “domicile” as it applies to a probate administration when that person dies. When a person passes away, whether they had a Will or…
Minnesota Probate Law | Watch out for burglars of your loved one’s home
I wanted to share this tidbit of information from a poster on a popular website regarding burglars, funerals, and Minnesota probate estates. This is an important lesson to keep in mind for heirs, executors, and personal representatives of probate estates: We at the Goodhue County Sheriff’s Office want to remind you to be mindful when posting information…
Minnesota Probate Law | Homestead, Real Estate, and Property
Many people have multiple homes, townhouses, condos, or other land which are referred to under Minnesota law as “real property”. When someone passes-away and the title to the real property or real estate is in their name, a court must appoint a personal representative or executor to administer their loved-one’s estate. Often, the personal representative…
IRS Announces Rise In Estate Tax Exemption
Though it’s rare to hear good news out of the Internal Revenue Service, for those worried about the potential pain of estate tax, a recent announcement may just qualify. That’s because the IRS revealed earlier this month that the estate tax exemption amount would climb in 2015. To find out more about the estate tax…
MN Wills & Trusts | Learn More About Leaving Money To Your Children And Not Their Spouses
Though it may sound a bit harsh, the reality is that lots of concerned parents are eager to learn more about how future inheritance money can be used to protect their children and not inadvertently benefit their sons or daughters-in-law. Divorce is a real possibility and most people would hate to think the money they…
Lady Bird Deeds (Transfer on Death) And Minnesota Estate Planning Law
What in the world is a Lady Bird Deed (Transfer on Death Deed)? Lady Bird deeds are named after the one and only Lady Bird Johnson (President Lyndon Johnson’s wife). Some say that the name came from the fact that President Johnson used such an estate-planning tool to transfer property to Lady Bird after his…
End Of Year Minnesota Estate Plan Checkup
The holiday season is well underway with Thanksgiving behind us and Christmas only a few weeks away. As the year begins to wind down, it’s a good opportunity for Minnesotans to sit back and reflect on their lives and estate plan, among other things. Before the New Year begins, take a moment to go through…
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….