In today's video we look at the Charitable Remainder Trust - what they are and how they are an excellent tool for both charitable giving and for stretching an inheritance in a trust. We look at both the CRAT (Charitable Remainder Annuity Trust) and the CRUT (Charitable Remainder Unitrust) and how...
In today's video we look at "mirror wills" - wills made by a couple where the agreement is that when the first dies, all of their assets go to the survivor, and when the survivor dies, all of the assets are distributed to the couple's chosen devisees. While this is a very common strategy for marr...
The common misconception is that if you have a Revocable Living Trust, you won't have a will. This is true and not true at the same time. In today's video we look at the Pour Over Will, an estate planning instrument that supplements a Revocable Living Trust by (1) acting as a catch-all, (2) prote...
Not many people run into trusts on a daily basis. We talk a lot about different kinds of trusts on this channel, but perhaps we've been taking for granted that everyone knows what a "trust" actually is. In today's video we talk about what a trust actually is and break down trusts into three categ...
Bitcoin and Cryptocurrencies are relatively new, and not going anywhere. In fact, they may make up a substantial portion of some people's estate. In today's video we look at some of the issues that Bitcoin and Cryptocurrencies bring to estate planning and how to go about addressing them.
Revocable Living Trusts are not the only way to avoid probate. Sometimes, avoiding probate is simply a matter of reducing one's probate assets below the threshold to allow a probate alternative to be used. In today's video we look at two ways to convert probate assets into non-probate assets: the...
Taxes are a fundamental part of estate planning. While not everyone's estate (or rather relatively few estates) will ever pay estate taxes, that doesn't mean taxation issues are unimportant. In today's video we look at the concept of step up in basis, and how it affects the vast majority of estat...
In today's video we look at how Attorney Fees are assessed in Probate. How are they calculated, and what are some of the dangers with each computation?
In today's video we explore Attorney Fees in Estate Planning. How are fees calculated and what should you look out for when talking with an attorney?
In today's video we explore Advance Mental Health Care Directives. What are they, what should be included, and can they even be done in Minnesota, a state without a mental health care directive or psychiatric directive statute? (Hint: They can!)
In this Part II of a two part series, we explore three additional myths about revocable living trusts. These myths are: Myth 4: Revocable Living Trusts Protect Assets From Creditors Myth 5: Revocable Living Trusts Always Cost Less in Administration than Wills Do In Probate Myth 6: Asset...
In today's video we discuss three of the top 6 myths about revocable living trusts. Myths in this Part I of a two part series include: Myth 1: People Cannot Challenge a Revocable Living Trust Busted: Yes, they certainly can. There are procedural differences and different notice requirements, ...
Whether or not someone is another's child is a complicated question. In today's video we look at the statutory definition of "child" and run some hypotheticals regarding whether or not a person in a situation is another's child. Finally we look at three key ways that this matters in any probate.
There is a lot of paperwork and documentation that goes into a probate. In today's video we take the position that we are an interested party in a probate, but not the personal representative. What are the notices and documents we will or may receive in the mail during the process? What do th...
Creditors do not have a claim on every asset in probate. In fact, some assets are explicitly exempt from creditor claims by statute. In today's video we discuss what is an exempt asset. We go over the three types of exempt assets – homestead, selected property, and family allowance – and how they...
In today's video, Affidavit for Collection of Personal Property Part II, we look at an estate planning strategy for avoiding probate that does not use a revocable living trust. In fact, we show how an estate worth greater than $1 million can be administered as a small estate using an affidavit fo...
In today's video we discuss small estate administration. An affidavit of personal property is a probate alternative that allows an interested person to manage and close the estate without going through the entire probate process. The gross estate must be worth less than $75,000 and it must be sol...
In today's video we discuss the difference between formal and informal probate. Why might you want one over the other? Which one is more expensive? Why might you be forced into one or the other?
In the last video we discussed how to get appointed as a personal representative. In today's video we flip it on its head – how can you get rid of a personal representative, or prevent someone from being appointed as personal representative?
In today's video we discuss the process of getting appointed as personal representative. Who can legally qualify and what is the priority of appointment. Also, what happens when two people want to be co-personal representatives, or what if nobody wants to be personal representatives? It's a compl...
Probate assets are those assets that are distributed through the probate process. In today's video we explore what these assets are and how to convert a probate asset into a non-probate asset. If you have a question about probate, please contact Signature Law for a free consultation!
In today's video we embark on a multi-video journey through probate. This, of course, with a 20,000 foot view of what is probate. In the forthcoming weeks we'll look at various procedures and information about the Minnesota probate process. If you have questions on the probate process, contact Si...
Sometimes when one is anticipating that someone will challenge their will, they want to provide extra proof of “testamentary capacity” – i.e., that they were of sound mind when they signed their will. One way to attempt to do this is to video record the signing of the will. In today's video we di...
Most people don't think about estate planning until they have a kid, a house, some assets, or even until they are retired. But there are some aspects of estate planning that are important for people who are turning 18 and leaving the house or going to college. In today's video we discuss what est...
You've watched some videos, learned about estate planning, put together your needs and wants, attended an initial consultation, come up with an estate planning strategy, and turned it over to the attorney to do their thing. A week or two later you get an email with a link to an encrypted file con...
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