Though estate planning often revolves around money, there are other items of personal property that are often just as important and sometimes even more important to people, regardless of their worth. Jewelry, photographs, antiques and other items may not have much monetary value, but can be very important for sentimental reason. When handling the disposition…
Minnesota Probate: What Happens With Jointly Owned Property?
We’ve previously discussed the issue of Minnesota probate and how some assets fall outside the probate process. One example of such an asset is jointly owned property. Keep reading to find out more about how jointly owned property operates following the death of one owner. What is jointly owned property? Jointly owned property is any…
End Of Year Minnesota Estate Plan Checkup
The holiday season is well underway with Thanksgiving behind us and Christmas only a few weeks away. As the year begins to wind down, it’s a good opportunity for Minnesotans to sit back and reflect on their lives and estate plan, among other things. Before the New Year begins, take a moment to go through…
What Exactly Is A Trust And Why Do I Need One?
Most people have heard of a trust, but few likely understand what the estate-planning tool is and whether they might benefit from having one of their own. There’s a common misconception that estate planning trusts are only useful for those with gobs of money. While it’s true that barebones estates may not benefit from a…
Minnesota Estate Planning: Who To Tell About Your Estate Plan
If you’ve taken the important step of meeting with a Minnesota estate planning attorney you should be congratulated. It’s an important step that far too many people put off. But now that the plan is drafted and formally prepared, you may be wondering who you should tell, if anyone. There are two basic strategies that…
Minnesota Estate Planning Law: How Does The Gift Tax Work?
As many people age they want to experience the happiness that comes from seeing those they love taken care of. Though passing money along through a will is one means of achieving this end, others prefer to take a more direct approach and give money to loved ones while they are still alive. It might…
Minnesota Estate Planning: What Is Simultaneous Death?
Though the thought is a terrible one, it’s also not unheard of: a couple dies together in a horrible accident with no will to handle the distribution of assets. While the case is certainly tragic and estate planning would likely not be the first issue to spring to mind, the fact is the case presents…
Minnesota Estate Planning Law And The Trouble With Living Wills
As we’ve discussed here before, Minnesota law allows for the creation of health care directives, something that is similar to the living wills that are used in other states. A recent Yahoo.com article discussed some of the problems associated with living wills. Though health care directives can be more comprehensive than living wills, many of…
Minnesota Estate Planning Law: Guardianships In Minnesota
A few weeks back we discussed conservatorships in Minnesota and how they operate. Let’s now turn to a related subject: guardianships. As we mentioned, conservatorships exist when a person is unable to manage their financial affairs. Judges then appoint another person to make financial decisions for the protected person. So what’s a guardianship? Keep reading…
Minnesota Estate Planning Law: Minnesota Conservatorship
It can be a difficult day when you realize that a loved one is no longer able to independently manage his or her affairs. Though it can be hard, and is sometimes met with resistance, it’s often essential that family members take action to protect that person from him or herself. While guardianships exist to…