Medicaid Planning and Trusts
October 14th, 2017
Today’s estate planning is about more than just planning for death. Today, estate planning is about helping people prepare for difficulties during life, helping them pass their assets in the best way at death, and helping them preserve their legacy after they’re gone. Part of this planning process may be to help them plan their […]
Credit Shelter Trusts
October 11th, 2017
The gold standard for estate planning has been the credit shelter trust, often called a Family Trust. With each spouse being able to pass $5 million adjusted for inflation ($5.49 million in 2017) and with federal portability without a sunset provision, questions have arisen as to whether credit shelter trust planning is still necessary or […]
Joint, Separate, and Unmarried Trusts
October 7th, 2017
There are different types of revocable trusts for different family situations. The first and simplest trust to understand is the unmarried trust. This revocable trust is established for one unmarried individual. It is taxed as a grantor trust because it is revocable. It may use the grantor’s social security number as the tax id number […]
Trusts and Subtrusts
October 4th, 2017
A trust may be created during life, either as a revocable trust or an irrevocable trust. Or a trust may be created under a Will. Regardless of the attributes of the instrument creating the trust, different sub-trusts may be created under the trust. If the assets start in the Will, the Will could name the […]
The Revocable Living Trust – The Better Alternative to a Will
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
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
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
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
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!
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 […]