Before another close family member dies, set aside time to seriously discuss with each other all of your basic end-of-life concerns, values, and needs. Your closest relatives (or friends who will be acting as your legal caregivers) need this information so that one day, they wont have to face unnecessary crises and sleepless nights wondering…
Author: Flanders Law Firm LLC
Minnesota Wills, Trusts, and Estate Planning | The James Brown Estate: A Set of Complex Relationships & Interests
Perhaps most of us remember James Brown as the Godfather of Soul who sang such hits as I Got You (I Feel Good), Papas Got a Brand New Bag, and I Got the Feelin. He often moved about on stage in a rather flashy manner that others tried to imitate. Yet despite all of the…
MN Estate Planning | Married Same-Sex Couples Now Have Access to All Estate Planning Tools
The U. S. Supreme Courts recent landmark ruling in Obergefell v. Hodges not only made it lawful for same-sex couples to marry in all 50 states, it also opened the doors for these couples to obtain all of the same-sex estate planning advantages once only available to married heterosexuals. Most gay couples are now sighing…
Minnesota Wills & Trusts | What to Expect When You Formally Execute Your Will
After youve met with your Minnesota estate planning attorney to decide how to use your Will to transfer all of your funds and property to your beneficiaries, youll need to return to his office later to sign everything. Fortunately, all of the hard work has been done and youll be given the chance to carefully…
Minnesota Wills and Trusts: Remarriage: How It Often Poses Unique Estate Planning Challenges
While it can be wonderful to be a part of a large loving family, that goal is often frustrated when two previously married individuals choose to get married again. Far too often, one or both will have older children who resent the presence of the new spouse in their lives. They may also be upset…
MN Estate Planning | Paul Walkers Estate Plan Provides Many Lessons
Perhaps best known for starring in The Fast and Furious movie franchise, Paul Walkers fame was still on the rise when he passed away suddenly at the age of 40 in November of 2013. News reports indicate that Walker was killed while riding as a passenger in a friends Porsche being driven at close to…
MN Estate Planning | Robin Williams Estate Mess Goes From Bad To Worse
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…
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…