By default, everyone has an estate plan. There is a common misconception that only the wealthy need an estate plan, but the bottom line is that one way or another, your assets will pass to another person or group of people at your death. There are a…
Read More
We’ve previously discussed the basic Medical Assistance rules in Minnesota. If you missed that blog post, you can read it here. Beyond the basics are spousal impoverishment rules. As we previously mentioned in order to qualify for Medical Assistanc…
Read More
Meeting with an estate planning attorney can seem overwhelming. And when your attorney starts using terms like “intestate succession,” “attorney-in-fact,” or “probate,” it can feel like they are speaking a different language. In this arti…
Read More
Often times when individuals execute advance directives, they have a preconceived notion of the aliment or incapacitating situation they might find themselves in, in the future. People also often execute these documents with the intent that they will…
Read More
With the aging population, estate planning has shifted to more than drafting a plan to devise your assets when you pass away. Planning for and protecting your assets from the high costs of nursing home and long-term care is a crucial issue that needs…
Read More
With a new year come new estate tax exemption rates. Although estate and gift taxes are sometimes thought of as taxes that do not change that much, that has definitely not been the case in recent memory. In fact, there have been fairly significant ch…
Read More
The IRS recently released proposed regulations that address issues with the new estate and gift tax exclusions that were increased as part of the Tax Cuts and Jobs Act enacted last year. Under the new tax law, the estate and gift tax exclusion amount…
Read More
The IRS recently announced that retirement savers will be able to save even more in 2019. This is great news for anyone that saves through individual retirement accounts like 401(k) plans, IRAs, and ROTH IRAs! The higher contribution limits also give…
Read More
As estate planning attorneys, we are often asked by heirs and other family members for copies of probate documents or a deceased person’s will. Sometimes, people are looking for probate records to see whether or not a probate has been started.…
Read More
In our earlier post on guardianship and conservatorship for minor children, we discussed how to go about nominating a guardian and conservator for your children. But what happens when disability, incapacity, or incompetence renders an adult incapable…
Read More
Share