Titling and Deeding of Property in Minnesota It’s not uncommon as people age to start considering strategies to either avoid probate or limit assets that could be taken to pay medical/nursing expenses. One of the most well-known strategies is to simply add your child’s name to the deed of your house. Though the strategy is…
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Trump Tax Bill and Minnesota Estate Planning
Tax Cut | Estate Planning Its taken some serious wrangling, but Congress and President Trump have finally moved forward on one of the key Republican promises of 2016: passing a massive tax cut. There have been several iterations of the tax cut plan, some even more generous than others. As of December 22, 2017, President Trump…
Minnesota Estate Planning Law | The Slayer Statute
The Slayer Rule When most people think of estate planning law, they dont usually imagine much excitement. Murder, disappearance, millions of dollars and intrigue. It sounds more like a made for television movie than a probate case. But thats exactly whats happening in a case currently pending in New Hampshire. One family is engaged in…
Advantages of a Revocable Trust In Minnesota
Advantages of a Revocable Trust As we mentioned last week, talk of trust funds can lead to lots of confusion. Even those interested in learning more about estate planning can be overwhelmed when the topic of conversation turns to trusts. These tools are often viewed as confusingly complex and only for those with money to…
Should You Consider a Revocable Trust? | MN Estate Planning Law
Why Should You Consider A Revocable Trust? We’ve done a few posts on revocable trusts already. In the first, we explained more about what a revocable trust was and how it worked. In the second, we talked about some of the most important benefits of a revocable trust. Now that you have a bit more…
MN Wills & Trusts | Different Ways to Hold Title to Property
Different ways to hold title to property A recent article in the Washington Post involved a letter from a reader asking whether she and her husband needed to create a trust to ensure that, in the event of eithers death, the other would be guaranteed to take ownership of the family home seamlessly. The author…
What Is a Valid Will in Minnesota?
What is a Valid Will in Minnesota? It is very important that people understand that Wills need to be drafted and executed in the proper, legal manner. If the legal requirements are not met, a court of law could invalidate what people believed was a proper Will. Minnesota law has very clear language on what…
Common Mistakes Made When Handling Your Own Minnesota Estate Planning
Common mistakes when drafting your own estate plan We discussed some of the dangers of drafting your own estate plan last week as well as the questions to keep in mind if you’re thinking about doing it yourself. For those that are still determined to create an estate plan alone, there are some common mistakes…
Minnesota Probate Law | Subject Matter Jurisdiction
Subject Matter Jurisdiction in a MN Probate In a probate proceeding, the personal representative of the estate files an application with the probate court in the county where the decedent lived at the time of his or her death. This process triggers entry into probate court. All counties in Minnesota have probate courts to hear…
MN Probate Law | When Death Isn’t Definite
When dealing with probate and estate planning issues, an unfortunate prerequisite is death. Someone has passed away and loved ones have to scramble to get their ducks in a row. The assumption is that death is concrete, tangible and easily ascertained. Its everything else that’s supposed to be complicated. Though that’s often true, it isn’t…