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How to Avoid Family Confl…

How to Avoid Family Conflict When Transferring Intergenerational Wealth

Family conflict can be an unfortunate byproduct of transferring intergenerational wealth if your estate plan does not properly address the risk. Thankfully, we usually hear from our clients that they don’t have any concerns with their kids getting… Read More
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Categories: Uncategorized
How Much Can You Gift Bef…

How Much Can You Gift Before Paying Tax?

In the United States, gift taxes are imposed in some states and at the federal level. As of 2023, Minnesota does not have a gift tax. Minnesota does, however, have a three year lookback for taxable gifts. So, what are taxable gifts? Taxable Gifts Any… Read More
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Categories: Estate Planning, News
No-Contest Clauses: Does…

No-Contest Clauses: Does No-Contest Really Mean No Contest?

We live in a litigious society. Unfortunately, even family members sometimes file lawsuits because they are dissatisfied with what their parents or loved ones leave them in a will or trust. Some are so disgruntled that they decide to contest or chall… Read More
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Categories: Estate Planning
Post-Mortem Estate Planni…

Post-Mortem Estate Planning Critical to Minnesota Farmers

If you’re a Minnesota farmer, it’s important to understand the various aspects of estate planning in order to maximize your estate tax savings and minimize your financial burden. Post-mortem estate planning is an effective way to reduce e… Read More
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Categories: Estate Planning, Farm
Are Non-Farming Heirs Ent…

Are Non-Farming Heirs Entitled to a Farm Inheritance?

As if farming itself weren’t hard enough, now you have to figure out how you are going to get your farm to the next generation. Knowing the options available to you is an important first step in preparing yourself for this process. Establishing you… Read More
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Categories: Uncategorized
Does the Guardian for My…

Does the Guardian for My Child Have to Be a United States Citizen?

One of the more uncomfortable aspects of estate planning is deciding what will happen to your child if both you and the child’s other legal parent were to die unexpectedly. While the odds of this happening are low, the consequences of not naming a… Read More
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Categories: Uncategorized
How to Choose the Right T…

How to Choose the Right Trustee for your Revocable Trust

If you’re the type of parent who likes to plan ahead, then naming your children as trustee of your trust might make a lot of sense – but only if they’re fully prepared to take on such an important role. Before deciding whether or not it’s… Read More
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Categories: Estate Planning

Why You May Still Face a Probate

Why You May Face a Probate Probate is the legal process for recognizing the validity of a will after a death and giving authority to someone to administer the estate This person, also known as an executor or personal representative, administers the d… Read More
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Categories: Uncategorized

Estate Planning for Minnesota Farmers

What is Estate Planning? Estate planning is the process of creating a comprehensive plan that outlines what will happen to your property after you pass away. This includes making arrangements for the transfer of assets, such as land, equipment, and l… Read More
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Categories: Uncategorized

Important Issues to Address Before You Leave on Vacation

It’s winter in Minnesota. Are you getting ready to embark on your next warm-weather great adventure? Before you zip up the last suitcase, here are five issues you need to address to protect yourself and your loved ones. 1. Do you have a foundat… Read More
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Categories: Estate Planning, Probate