It's a trick question really – how much money do you need to have to make a will. The real question is what are you trying to do. In today's video we discuss some of the reasons you may have for planning your estate, as well as some reasons you may not need to. Some of the questions you should be...
Estate planning is a complicated matter, and the pandemic has only made things more difficult. In today's video we discuss some of the ways that attorneys and the State of Minnesota have adapted to the challenges of the pandemic to make sure that the public's estate planning needs are met. Signat...
On July 30, 2020, Governor Walz announced the going back to school plan for Minnesota. Minnesota has elected to adopt an empirically based stratified plan. This means that districts, using empirical scientific data, will choose whether to open completely, stay totally remote, or use a hybrid remo...
A recent study shows that 73 percent of Americans will be dying with debt. The average debt load at death will be $61,554, including mortgage debt. So what exactly happens with this debt when you die? The answer, of course, is that it depends. Probate is the legal process for proving of a will an...
Circumstances in life change over time. People get married, have or adopt children, buy houses, and sell houses. They make new friends, get new family members, and fall out of favor with people. Just as life changes, the estate plan is a lifetime endeavor that needs updating to reflect these chan...
The internet and cloud computing have increasingly over time added a complication to what happens after our death. Our digital assets have become some of our most valuable properties. The law has been hard pressed keep up with the changing digital landscape. A Chicago nightmare Imagine the follow...
Normally, when you give someone a gift of money, they immediately get the money and the gift is concluded. At least, at law, that's how it works. And in 2020 you will be able to give a child or grandchild up to $15,000 a year without incurring gift taxes ($30,000 for married couples). But that be...
Consider the following hypothetical: A husband dies, leaving his wife $4 million. Because this is greater than the $2.7 million threshold for estate taxes in Minnesota (in 2019), $1.3 million would be taxed. If the estate tax in Minnesota were 10 percent, that's $130,000 in taxes, and not an insi...
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