...
Will-Based or Trust-Based – Which Type of Estate Plan Should I Choose?
There are two basic kinds of estate planning: will-based and trust-based. So, it should be easy to choose, right? It seems simple. Wills are the foundation of will-based plans and trusts are the...
Failing to Plan: Not Having a Business Succession Plan Could Derail Your Business
As a successful business owner, you’ve worked hard to get where you are. You know all about sweat equity and sleepless nights. So, doesn’t it make sense to want your business to continue after you...
Trusts That Fit Your Lifestyle
Dan and Jean S. own a successful family business that was founded over 100 years ago. Max B.’s estate currently is worth more than $12 million. Sean’s 30-year old daughter suffers from multiple sc...
New Gifting Rules: What You Need to Know
When someone gives another person property without getting anything in return, it’s called “gifting.” This term is often used when talking about taxes. However, gifting can be an important part ...
Managing Special Assets During Probate
Estate come in all shapes and sizes. Some people leave behind property worth millions while other estates may contain only property with high sentimental value. Either way, personal representatives ha...
Will Your Minnesota Trust Owe Income Tax
Anyone who earned income in the United States is expected to file a federal income tax return every year. Whether the individual actually owes tax or not is determined by the type of income they earne...
Guardianship vs. Conservatorship: What’s the Difference?
When people are no longer able to care for themselves, someone steps in to act on their behalf. Maybe you have already faced this situation with a loved one: mom or dad need more assistance as they gr...
Reasons to Choose a Testamentary Trust Over a Living Trust
We often face important choices that can result in life-changing results. In estate planning, which is already heavily vested in life and death, you may find yourself comparing estate planning tools. ...
Probate How-To: When the Decedent Owned Property in Multiple States
When someone dies, the property they leave behind usually becomes their estate. But their estate must follow a certain process in order to be transferred to their heirs. Their estate must go through p...