In many divorces, pets are more than just animals—they’re beloved members of the family. However, when it comes to dividing property in a Minnesota divorce, pets are considered personal property, not children or family members, which means they are subject to the same laws as other possessions like furniture or vehicles. Under Minnesota law, the [...]

In Minnesota, the division of assets during a dissolution of marriage (divorce) is governed by the principle of "equitable distribution." This means that the court will divide property, including the family home, in a way that is fair, but not necessarily equal. The goal is to ensure both parties receive a fair share of the [...]

Going through a divorce can be a difficult and emotionally draining process. However, with the right approach, it is possible to navigate the situation in a way that leads to the best possible outcome. Here are some of the best tips for getting the most out of your divorce, both financially and emotionally. Understand Your [...]

This is not the first or last time you will hear this: COVID-19 changed everything. But it has had a specific impact on business owners who are trying to figure out how their businesses will survive the disruptions of the past few years. There was so much uncertainty that it was difficult to see past [...]

The highest ethical standards are required for all types of trustees, whether they are dealing with personal assets or business interests. In all cases, the golden rule is that a trustee should put the beneficiary's or client's interest first. Important guiding principles The first and foremost duty is that of loyalty. A trustee must always [...]

Death is just the beginning. A host of grievances may simmer below the surface. The probate process can dredge up unresolved emotions and family conflicts, intensified by grief. As survivors find themselves rehashing the past, the settlement of probate can ignite long-buried resentments. If the parties have been looking for a fight for years, probate [...]

For some simple estates, all you may need to do is split your assets in equal proportions among heirs. In other instances, however, you have more complex issues to confront: How can you apportion a family business, or the farm, especially one to which all beneficiaries do not contribute the same sweat equity? How should [...]

When you use a trust, you bypass probate, a lengthy legal process that validates your will, and you leave precise, legally binding instructions for how to distribute and potentially maintain your assets. Have a beneficiary with special needs who's ill equipped to manage the inheritance? Bequeathing complex assets that require ongoing attention after you're gone? [...]

A blended family can be a blessing. However, it does mean you have to take special care with your estate plan. Although you want to take care of your spouse and stepchildren, you don't want to inadvertently cut out your biological children. Take the following steps: Check your beneficiaries. Who is the beneficiary of your 401(k) [...]

Can't shake the feeling that you should be contemplating estate planning, but you have too many questions, so you put it off again? Want some answers before you have to navigate complicated situations? Here are some questions and answers: What's the difference between a will and a trust? Wills become effective after death, while some [...]