Family Limited Partnerships in Minnesota Family-run businesses are an excellent means for parents to leave a legacy for their children. Although simple in concept, passing a family run business down to children or grandchildren can present unexpected pitfalls. Increasingly, many small businesses are using business associations to accomplish estate-planning goals. Partnerships are a business entity…
Minnesota Estate Planning: How to Fund Grandchildren Attending College
Questions about Funding Grandchildren Attending College? Since undergraduate degrees usually help adults earn more throughout their lives, most young people still hope to attend college. However, financing this type of education often proves too expensive for many teens and their parents. Fortunately, many grandparents have decided to step into this financial void and help out….
Minnesota Wills and Trusts Reading Resources
Before first visiting your attorneys office, you may find it useful to do a bit of general reading about estate planning topics. Although arriving without any background knowledge is perfectly acceptable, it can help you come up with questions geared to your unique set of assets. In keeping with this idea, the American Bar Association…
How to Probate a Will in Minnesota
There are many important steps to probating a Will in Minnesota. Minnesota law governing the subject is codified under Minnesota Statute 524, the Minnesota Uniform Probate Code. The probate process is complicated. One of the first things that a new executor or personal representative should do is review and read the Will from beginning to…
What to Expect from a Minnesota Probate Hearing
Do you have questions about what to expect from a Minnesota probate hearing? Read on for more information. The basics of a Minnesota probate hearing After the Petition for a probate estate administration has been filed with the proper county court, an Order for hearing is issued by the court. This Order must be given…
Small Business Estate Planning In Minnesota | MN Wills and Trusts
Whether youre the sole owner of a business or a partner in one, you need your Minnesota estate planning attorneys help to make sure your business interests are properly transferred to others when you pass away. Since co-ownership of a company or corporation requires unique legal documents and planning coordinated with other owners, this article…
Minnesota Estate Planning | Nursing Home Evictions
Most of us assume that if our parents run out of money to pay for their nursing home care, theyll simply go on Medicaid. While that may still happen in many cases, bad things can still happen even to families that have avoided all forms of fraud or wrongdoing. This is why you must keep…
Minnesota Probate Vocabulary
Useful Probate Vocabulary for Minnesota Personal Representatives Once someone close to you has passed away and you need to begin serving as the estates personal representative, its a good idea to brush up on some Minnesota probate vocabulary that can help you with your various duties. In fact, you may even discover a shortcut or…
MN Estate Plan | Reverse Mortgages: Can One Negatively Affect Your Minnesota Estate Plan?
When you see a TV ad with a famous older actor telling you that a reverse mortgage might solve all of your current financial problems, its tempting to believe everything you hear. However, its never wise to immediately pursue this type of loan before carefully considering how it might affect your overall MN estate plan….
MN Life Insurance Lawyer | Choose Your Minnesota Life Insurance Company Wisely
At present, about 1,000 companies sell life insurance in this country. However, most of them sell their products and services through about 300 groups so they can simplify their product distribution and pay more attention to each states legal policy requirements. Talking to a MN life insurance lawyer is a good start. (Before buying any…