» Estate Planning

Introduction In April 2024, Minnesota enacted significant updates to its transfer on death deed (TODD) law. These changes aim to simplify property transfers, avoid probate, and provide clarity for homeowners and beneficiaries. This law became effecti… Read More

Understanding Estate Administration in Minnesota: Is Probate Always Necessary? Estate administration in Minnesota is a complex process, but understanding when a probate is necessary can help ease the journey. Often our first task when we meet with yo… Read More

When navigating the complexities of estate planning, many recently widowed spouses do not realize that they have a once-in-a-lifetime opportunity to make a crucial tax election. This often overlooked decision for surviving spouses is the portability… Read More

Death is a personal and private affair that affects the deceased’s close family and friends. However, there is at least one aspect of death that may require state oversight: probate. Probate is the court-supervised process of either (a) carrying ou… Read More

For many business owners, their business is one of the most valuable and important things they own. When it is time to sit down and create an estate plan, it is critical that business owners plan for their business just as they would plan for their h… Read More

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… Read More

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… Read More

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… Read More