Archive for September, 2017
The Revocable Living Trust – The Better Alternative to a Will
Saturday, September 30th, 2017
Most Americans have been led to believe that a Will is the way to handle their final affairs. That is because most lawyers profit from their clients having one. How can that be, because wills are typically not very expensive? Here is the dirty little secret that most lawyers don’t want you to know: they […]
A Trust is Often Better Than a Will
Wednesday, September 27th, 2017
Contrary to what you’ve probably heard, a will may not be the best estate plan for you and your family. That’s primarily because a will does not avoid probate when you die. All wills must be filed in probate court before they can go into effect. Also, a will provides no protection if you become […]
October Estate Planning Workshops in the North Metro Area
Saturday, September 23rd, 2017
Coon Rapids Civic Center Civic Room C 11155 Robinson Dr. Coon Rapids, MN 55433 Tuesday, October 10 6:30 p.m. – 8:00 p.m. or Thursday, October 19 6:30 p.m. – 8:00 p.m. The Tavern Grill 10950 Club West Parkway, Suite 280 Blaine, MN 55449 Thursday, October 12 10:00 a.m. – 11:30 a.m. Majestic Oaks Golf Club […]
Types of Trusts
Saturday, September 23rd, 2017
Trusts may be categorized in many ways. One useful way to differentiate between trusts is intervivos and testamentary. An intervivos trust is simply a trust which is created during life. Another name for an intervivos trust is a living trust. A trust need not have intervivos or living in its title. A trust, intervivos or […]
Reasons to Use a Trust
Wednesday, September 20th, 2017
There are many reasons to use a trust: Probate avoidance. At death, assets titled in the name of an individual must go through a process to retitle the assets to the appropriate people who’ve inherited them. This is called probate. In Minnesota, probate takes about 12 to 18 months, and costs about 5% of the […]
September Estate Planning Seminars Starting This Week in Edina!
Saturday, September 16th, 2017
Now that summer is over, we will again be hosting our lively and informative Estate Planning Seminars every month throughout the Twin Cities Metro Area. September’s Seminars will be held in Edina at Centennial Lakes Office Park, 3600 Minnesota Drive, Suite 175, Edina, MN 55435 on the following dates: Tuesday, September 19 10:30 a.m. – 12:00 […]
What is a Trust?
Saturday, September 16th, 2017
A trust is a way to hold your assets that provides greater protection and avoids probate when you die. If property structured, a trust can also minimize income taxes and estate taxes. There are three positions in a trust: the Settlor, the Trustee, and the Beneficiaries. The Settlor (also known as the “Grantor” or “Trustor”) […]