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…
Author: Flanders Law Firm LLC
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…
Estate Planning Advice For Single Parents In Minnesota
Everyone knows how stressful it is to be a parent. What’s even more stressful? Handling all that worry on your own. Single parents have to juggle the responsibilities of caring for young children as well as the added burden of worrying about what will happen to them in the event that you die or become…
The Most Useful Minnesota Estate Planning Documents
When clients request a Will, they’re often surprised to learn that they may need several more documents prepared for them if they’re seeking a comprehensive estate plan. While Wills are often the centerpiece of many people’s estate plans, others prefer to use one or more trust accounts to leave their wealth and belongings to others…
The Power of Powers of Attorney | Minnesota Estate Planning
There are multiple pieces to any comprehensive Minnesota estate plan and it can sometimes be difficult to keep the importance of each in mind. One such especially critical component, a power of attorney, deserves a bit of discussion. Within the larger topic of powers of attorney is the specific issue of whether the documents should…
Creating a Valid Living Will in Minnesota
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….