As outlined in our recent post, 2024 Estate and Gift Tax Update, the current federal estate tax exemption is the highest level it has ever been (other than 2010 and before there was an estate tax). The unified exemption limit for individuals dying in…
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Introduction: In the world of real estate, navigating property transactions can sometimes seem daunting. Amidst the digital landscape, it’s essential to stay informed and aware of scammers. One area of concern involves the sale of recorded deed…
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You can create your estate plan at any time, but many people choose to begin the process sooner rather than later. Why? Because you never know when life-changing medical or financial emergencies can strike that will require someone else to manage you…
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Small business owners will have one more item on their compliance to-do list now that the Corporate Transparency Act (“CTA”) has taken effect. The CTA,[1] enacted as part of the Anti-Money Laundering Act of 2020, places new reporting requirements…
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With the new year, it is time to provide an update on gift and estate taxes. While this topic is not always the most exciting for clients to talk about, it is often a critical consideration in how a business or farm operation will pass to the next ge…
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As estate planning attorneys with a deep appreciation for the agricultural heritage of Minnesota (and many of us having a farm connection), we take seriously our role in helping our clients develop and implement a strategic plan for the future of the…
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When you create a trust, choosing a trustee is one of the most important decisions you will make. If you create a revocable living trust—that is, a trust that you establish during your lifetime and can revoke or amend—you may opt to act as truste…
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Being self-employed is no easy task. You are the owner, and in some cases, the only employee. While you may have more freedom than the average worker, a lot of responsibilities lie on your shoulders. Working together, we can craft a comprehensive est…
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Estate planning helps bring peace of mind and a sense of security, both in our lifetime and beyond. While we cannot predict our fate, we can at least dictate how our money and property will be distributed and ensure that we provide for our loved ones…
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Introduction: Creating a trust is a crucial step in estate planning, allowing individuals to manage their assets and ensure a smooth transfer of wealth to beneficiaries. While the idea of a Do-It-Yourself (DIY) trust might seem appealing, it comes wi…
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