5 Reasons Uncle Bill May Not Make a Good Trustee If you have created a trust that you intend to last for decades, choosing the right trustee is critical to ensuring the trust’s longevity and ultimate success. Initially, you may think that a family…
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Where Is the Best Place to Store Your Original Estate Planning Documents? Estate planning attorneys are often asked where original estate planning documents—wills, trusts, powers of attorney, and healthcare directives—should be stored for safekee…
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Is It Time for an Annual Planning Retreat? Do you ever feel like you never have a moment to yourself? Or that even if you manage to carve out some personal time, you are not spending it as effectively as you could be? Our always-on culture may counte…
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It’s Planning Season To have a successful farm, thoughtful planning must be done every season. Your life is no different. To properly prepare for the next season in your life and the lives of your loved ones, you need a well-executed estate plan. W…
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Have a Harmonious Family that Does Not Fight? You Still Need an Estate Plan In many families, everyone gets along, happily gathering for the holidays, sharing laughs, telling stories, and enjoying each other’s company. Then, the matriarch or patria…
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Farmer’s Guide to Machinery Depreciation, Stepped-Up Basis, and How Smart Planning Can Save Taxes on Farm Equipment Farmers know the value of depreciation when it comes to reducing their tax burden year to year. Bonus depreciation and Section 179 d…
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Farm Equipment Loans and Liens: The Hidden Threat in Your Estate Plan If you’re like most farmers, your equipment isn’t just sitting in the shed debt-free. Tractors, combines, and other essential machinery often carry liens, loans, or are wrapped…
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4 Tips to Avoid a Will or Trust Contest Fighting over provisions in your will or trust can derail your final wishes, rapidly deplete your financial legacy, and tear your loved ones apart. However, with proper planning, you can help your family avoid…
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How Fast Can a Physician’s Estate Exceed $3 Million? Faster Than You Think If you’re a physician practicing in Minnesota, chances are your estate may already be bumping up against — or exceeding — the state’s $3 million estate tax e…
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Who Really Owns the Farm Equipment? Why It Matters for Estate Planning When it comes to farm equipment, ownership isn’t always as clear as people think. Over the years, machinery gets bought, sold, handed down, or co-owned without much formal d…
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