In a previous post, I have detailed what it means to own real estate as joint tenants. The lengthier terminology for this type of titling is joint tenants with rights of survivorship. This means that when two people, usually a married couple, own real estate as joint tenants, when one of the joint tenants passes […]
All of us attorneys here at Epilawg regularly talk with prospective clients in person, on the phone, and by email to educate and answer questions about estate planning. Regardless of the person, their family, the size of their estate or a variety of other unique characteristics, nearly all prospective clients have the same initial question: […]
May 10, 1899 – June 22, 1987 Fred Astaire was born Frederick Austerlitz in Omaha, NE. His father anglicized the family name during World War I to Astaire. By the age of four, Astaire began taking ballet lessons and only a few years later began studying at a performing-arts school in New York. It was […]
Minnesota’s legislators have been busy working up new and exciting changes to Minnesota’s estate planning landscape. Perhaps less controversial and less exciting, (and, some would argue, more concrete) than the new Minnesota Gift Tax, this article will summarize some of the changes made to the Minnesota Statutory Short Form Power of Attorney document. With its […]
I recently came across this TED Talk by Judy MacDonald Johnston and thought she did such a great job starting the discussion on end-of-life planning that I had to share it with our readers. The video is worth watching (it is a short 6 minutes) and should be shared with any loved ones who are unwilling […]
April 25, 1917 – June 15, 1996 Ella Fitzgerald was a great American singer, who got her start when she entered an amateur contest at the Apollo Theater in 1934. Ms. Fitzgerald’s career spanned decades and “[b]y the 1990s, Ella had recorded over 200 albums.”1 Ms. Fitzgerald was diagnosed with diabetes later in life and […]
Aside from taxes, the topic that can typically cause the most confusion is the issue of which assets will pass to your loved ones tax free – and which are subject to estate taxation. Knowing your estate… There are costs associated with probate and those costs can be significant if you have not planned properly. […]
November 20, 1925 – June 6, 1968 Forty-five years ago, our country was in a state of political unrest with the divisiveness of both the war in Vietnam and the war for equality in the Civil Rights Movement. 1968 saw the assassinations of two great men – Martin Luther King, Jr. and Robert F. Kennedy. […]
Nowhere are you more generous than with your family. Whether you are saving for your children’s education, helping with the purchase of a first car, or helping to plan a wedding, your family is first in your mind and in your heart. This generosity often plays out in perhaps the most tangible way when planning […]
Last month, the Minnesota Legislature passed the Omnibus Tax Bill. Erik Doerr wrote a great overview of the Tax Bill for Epilawg, check it out here. My article below will focus on the new (or reinstated) Minnesota Gift Tax. The Minnesota Gift Tax law will operate similar to the Federal Gift Tax. It includes an annual exclusion. […]