Unfortunately, Robin Williams estate planning trouble appears to be getting worse. Months ago it was revealed that his children and former wife were at odds in a California probate court. That simmering dispute has finally erupted into a full-fledged legal battle, with both sides scheduled to appear before a judge this week. Whats going…
Tag: Dakota County
MN Estate Planning – Should You Create a Perpetual Trust in Minnesota?
Many wealthy people like the idea of creating trusts so that their money and investments can keep benefitting their heirs for an almost endless number of years. However, perpetual trusts may not be advisable, even in states like Minnesota that still allow them. In fact, according to an interesting New York Times article, nine states…
Did Actor James Gandolfini’s Heirs Have to Pay High Taxes?
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…
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…
Estate Planning: Insurance Policies Can Cover Important Expenses
Always ask your estate planning attorney about the best way to supplement your estate plan with various insurance policies. These types of resources can prove very useful, especially if you cannot leave a large sum of money to loved ones — or if there’s any chance your estate may owe considerable debts when you pass…
Estate Planning Enters The Digital Age (At Least In Delaware)
Though it may not be among your most pressing concerns, the reality is that access to electronic accounts is a matter of growing importance in the estate planning world. The Wall Street Journal recently published an article about a new law in Delaware that has changed the way that others can access electronic data for…
What Types of Trusts Can Be Created in Minnesota?
In addition to having a Will drafted, many Minnesota residents ask to have trust accounts created for them due to their frequent estate planning advantages. However, determining which types of trusts will best meet your needs can be a slightly complicated task. Be sure to ask your Minnesota estate planning attorney to look over your…
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…
Gift giving and estate planning in Minnesota
For those who are eager to give away money while they are alive and well, you’ll be happy to hear that new gift tax exemption numbers for 2015 have been released by the federal government. For those eager to receive money, you’ll be thrilled to hear that the limits have gone up to account for…
Revocable Living Trusts and Medical Assistance
When doing a estate planning consult with potential clients, one of the first things that comes to my mind is whether or not there is a medical assistance issue. Will be discussing a trusts and their effect on medical assistance in this article. Medical Assistance in Minnesota We discussed the meanings and definitions of medical assistance…