You may have witnessed or heard of children wasting their inheritance on a fast car or making unwise decisions after inheriting the family business. So, how can you protect your kids from such a fate? By actively preparing them for their inheritance. Here is how you...
Estate Planning
When should you update your estate plan?
You may not realize it, but estate planning is a lifelong process, and an outdated estate plan can cause issues for your future heirs. Here are some milestone events that can trigger the need to update your estate plan: Marriage Getting married (or remarried) may be...
When Do Estate Taxes Apply to Minnesota Estates?
Most Minnesota estate plans bequeath the bulk of the testator's "estate" (i.e., all of the property the testator owns at the time of their death) to people and charitable causes whom the testator wishes to support after they die. Unfortunately, some beneficiaries do...
What Changes Should You Make to Your Estate Plan After Divorce?
Divorce is one of those significant life events that necessitate a thorough review and update of your estate plan. Otherwise, your ex could unintentionally receive assets or remain in positions of power contrary to your current wishes. This could lead to disputes and...
5 More Trusts To Consider Making
A trust is a legal document included in an estate plan that helps people distribute assets without the estate being taxed, disputed or put through probate. In a previous post, you can learn about a few common kinds of trusts, including a revocable and irrevocable...