Naming an executor is one of the most important decisions that an adult can make when estate planning, given the control over that individual’s legacy that an executor will ultimately be empowered by. Yet, this decision is too often made quickly and/or based on...
A trustee has an obligation to the beneficiaries of an estate. Specifically, they have a fiduciary duty. They should act in the best interests of beneficiaries by properly managing trust resources. Their goal should be to optimize what beneficiaries ultimately receive...
When you die without a will, known legally as dying intestate, you leave the distribution of your estate up to state law, not personal intent. In Minnesota, a specific order of inheritance applies, and who gets your assets depends entirely on your family structure at...
Estate planning in Minnesota often brings up one major concern: how to pass on property without dragging your family through probate. A transfer-on-death deed (TODD) offers a straightforward way to make that happen, especially when you want clarity, control and...
Estate planning is crucial for unmarried LGBTQ+ couples to protect their partners. Without legal safeguards, partners risk losing their inheritance and are unable to make medical decisions on behalf of their partners. This is especially important as many couples...
Blended families have become relatively common. When parents with young children divorce, they may eventually find new romantic connections. If they marry someone who also has children from a prior relationship, what results is a blended family. The parents each have...
In the digital age, our online identities and assets form a significant part of our lives. From social media accounts and digital photo libraries to cryptocurrencies and online subscriptions, these assets hold both financial and sentimental value. Because of the high...
Trusts are a must-have estate planning tool because they offer flexibility and control over asset distribution after the grantor’s passing. However, disputes can arise, and beneficiaries may have legitimate concerns about a trust’s administration. In Minnesota, trusts...
Caregivers help to support those who are vulnerable and incapable of meeting certain needs for themselves. Children require caregivers, as do those with disabling medical conditions. Many older adults, especially those with health challenges, also require caregivers...
The estate planning process isn't just about drafting wills and funding trusts to guide the probate process. It also frequently involves planning to keep certain assets out of probate court altogether. Attaching a payable on death or transfer on death designation to a...