Trusts and More: How To Avoid Probate

By |2021-02-01T22:56:12+00:00February 1st, 2021|Estate Planning|

Probate refers to the general administering of a deceased person's will or the estate of a deceased person without a will. The general rule of thumb in Minnesota is that your estate goes through probate if (1) you die with more than $75,000.00 in your name alone; or (2) you die owning any real estate in [...]

How to Leave Your Home to Your Children

By |2021-02-01T22:56:33+00:00January 7th, 2021|Estate Planning|

Homes are one of the greatest and most expensive assets many people have. As a parent, you want your children to have your home after you die, but to ensure that your children are left with your home, there are some important steps that you must take. Your children will only be left with your [...]

Should You Establish Payable-on-Death Accounts?

By |2020-12-23T18:21:56+00:00December 23rd, 2020|Estate Planning|

Introduction to Pay-on-Death Accounts Payable-on-death accounts are a type of bank account that, at the owner's death, passes the money remaining in the account directly to the beneficiaries named by the account owner. They offer an easy way to keep money out of probate. Notify your bank that you would like to add a pay-on-death [...]

Don’t Make These Trust Errors

By |2020-08-14T17:25:15+00:00August 14th, 2020|Estate Planning|

Our clients use trusts as an asset protection tool and to help their beneficiaries avoid the cost and expense of probate. Trusts transfer legal ownership of assets to a trustee. The trustee is tasked with administering assets in the trust as the trust maker (or grantor) specifies. There may be more strings attached to an [...]

Now Is the Time To Revisit Your Estate Plan

By |2020-08-10T20:08:50+00:00August 10th, 2020|Business Law, Estate Planning|

The challenges caused by the COVID-19 pandemic gave us time to rethink our priorities and expectations. Estate planning is one area that has received a lot of attention, and for good reason. Everyone should consider the following: Document review: Are the papers in place? The COVID-19 crisis has caused many people to recognize that things [...]

Now Is the Time To Revisit Your Estate Plan

By |2020-07-07T02:34:00+00:00July 7th, 2020|Estate Planning|

The physical and financial health challenges caused by the COVID-19 pandemic gave us time to rethink our priorities and expectations. Estate planning is one area that has received a lot of attention, and for good reason. Here are three basic areas to review as you reassess your estate plan: Document review: Are the papers in [...]

Do You Need a Will and a Trust?

By |2020-07-07T02:35:08+00:00June 15th, 2020|Estate Planning|

  Everyone wants to protect their families, even after they pass from this world. That’s the purpose of estate plans. But how do you know whether all of the elements of a good plan are in place? The first step is understanding the difference between a will and a trust: A will lays out your [...]

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