Your general estate plan explains how your wealth and possessions should be distributed when you pass away. However, your living will can prove critical at any moment during your life when you become seriously injured in a traffic accident — or must start receiving potentially toxic or life-threatening treatments for cancer or other serious illnesses….
Category: Minnesota Estate Planning
Minnesota Estate Planning | Tips To Avoid Spinning In Your Grave Like James Brown
Though James Brown is known for hits like “I Feel Good,” the mess that has enveloped his estate would likely not be described in such glowing terms. Since his death nearly eight years ago, the crooner’s estate has been embroiled in a near-constant battle with heirs over the otherwise clear wishes of Brown. The New…
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…
Minnesota Probates & Medical Assistance
In every new Minnesota probate administration consult I do, I ask clients whether their loved one received or has applied for medical assistance. Why? Because medical assistance issues often come up in a probate or estate administrations. When people receive state-funded money for payment of hospice care, hospital stays, and long-term care, etc., during their life, the…
Joan Rivers’ Estate Plan Revealed | Minnesota Wills & Trusts
It’s been a bad year in terms of celebrity deaths and estate planning mistakes, with several famous actors and musicians passing away. Though sad for family members and fans, it has been a good year for nosey readers curious about the private financial status of these famous individuals. From Robin Williams to Phillip Seymour Hoffman,…
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…
Minnesota Estate Planning Law | Estate Plan Details Released After Robin Williams
A recent article by CNBC discussed some details that have emerged in recent days about Robin Williams’ estate plan. As we’ve discussed now several times, the details of some celebrities’ estate plans (or lack thereof) get leaked when papers are filed publicly, often as part of the probate process. In this case, friends have come…
Minnesota estate planning and probate tidbits | Several Important Celebrity Estate Planning Lessons
Minnesota estate planning is no different from estate planning done in other states and for other (famous) people. We’ve discussed some celebrity estate planning mistakes before, often using the high-profile cases as examples for what others should avoid doing. Recently, an article appeared in a California newspaper discussing some estate planning lessons learned from the stars….
Minnesota Wills & Trusts | Newlyweds And Minnesota Estate Planning
If you have just gotten married or are about to, the last thing you likely want to contemplate is death. After all, such a happy time shouldn’t be marred by such unpleasant thoughts, right? Though no one enjoys thinking about end-of-life matters, like Minnesota estate planning, it’s much better to tackle some of these concerns early on…