Is a Simple Will Enough for a Farm Succession Plan? Short answer: No. A simple will cannot protect a working farm. It may be fine for a young couple with minimal assets, but for farm families, it’s a dangerous shortcut that often leads to probate,…
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How to Help Your Loved Ones (and Your Life Savings) Avoid Probate Today, many people use a revocable living trust instead of a will, joint ownership, or beneficiary designation as the foundation of their estate plan. When properly prepared, a trust a…
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Nosy Neighbor Nellie Can Find Out About Your Probate Most people think of probate (the process of collecting, managing, and distributing a deceased person’s money and property) as a private process. However, because probate involves the court syste…
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The #1 Risk No Farmer Expects in Succession Planning When most families think about succession planning for the farm, they focus on the obvious: taxes, land values, debt, and the details of ownership. But there’s another risk that often goes overlo…
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Help! This Probate Is Taking Forever! After a loved one dies, their money and property that goes through probate must be distributed to the people legally entitled to it, either according to a last will and testament (also called a will) or the state…
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How Often Should You Update Your Farm Estate Plan? You’ve taken the important step of creating a farm estate plan. You’ve identified who will carry on the operation, made decisions about how assets will be passed on, and set the groundwork for yo…
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When “Joint” Isn’t Joint Enough—Property Titles & Ownership Surprises Introduction You might think owning something “together” means exactly that—you and your spouse, sibling, or business partner share equal ownership and contro…
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Part 2: When “Ours” Isn’t Legally Yours—Bank Accounts & Co-Ownership Confusion Introduction When a loved one dies, grief is hard enough. But for many Minnesota spouses and family members, that grief is compounded by an unexpected—and of…
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In this 3-part series, we will explore what happens when you think you own something, but it turns out you don’t. Part 1: You Call It Home—But Do You Legally Own It? You’ve lived in the house for years. You’ve paid the taxes, repaired the…
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August is National Make-A-Will Month: Why DIY Isn’t the Way to Go August is National Make-A-Will Month, a timely reminder to take care of one of the most important—and most overlooked—legal tasks: creating a will. Whether you’re just star…
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