A comprehensive estate plan should address all of your assets. For most people, an estate plan must include three common categories: (1) your home; (2) financial accounts, like your checking and savings account; and (3) personal property. Other types… Read More

While Congress has not yet sent a tax bill to the President’s desk, both the House and Senate have passed their own versions of a sweeping tax reform bill that has implications for many estates. This article explores the changes to the federal… Read More

After establishing a trust, the next step is to properly fund your trust. Funding a trust is the process of transferring or directing assets to your trust. This can be done by re-titling assets in the name of your trust or, alternatively, naming your… Read More

The most recent issue of our quarterly newsletter is now available. October 2017 NEWSLETTER The October 2017 issue includes: An update on the proposed Treasury regulations for valuation discounts An overview of the new law impacting all existing LLCs… Read More

In 2016, the Department of Treasury proposed new regulations for Section 2704 of the Internal Revenue Code. The proposed regulations would have significantly minimized or eliminated discounts for family limited partnerships and other entities. Earlie… Read More

In 2014, Minnesota adopted the Minnesota Revised Uniform Limited Liability Company Act (the “new LLC act”), which is set out in Chapter 322C of the Minnesota Statutes. Since August 1, 2015, new LLCs have been automatically covered by the new act.… Read More

After setting up a revocable trust, it is important to remember that only the assets titled in the trust or that have the trust as the beneficiary will avoid probate and be administered directly under the trust. While we also prepare “pour-over… Read More

How to Choose a Trustee When you establish a trust, you name someone to be the trustee. A trustee’s duties include collecting income of the trust, paying the trust’s bills and taxes, and investing the trust assets. The trustee is also res… Read More