In the News – Be Inspired By La Crosse, WI


April 29, 2014
avatar

On CBS Sunday Morning this past Sunday, the whole program was dedicated to life and death. One particular story that stood out was on La Crosse, WI. In La Crosse, WI, “…96 percent of the people who passed away here had created advance directives. That’s the highest percentage of end-of-life planning in a nation where […]

Estate Planning Myth #6: I must avoid probate


April 24, 2014
avatar

This issue varies significantly based upon where you live. In Minnesota, unlike some other jurisdictions, the probate avoidance opportunity doesn’t always rise to the level of necessity. The benefits of avoiding probate include: not incurring the time delay, avoiding the expense of court filing fees or attorney’s fees for opening the probate and administering the […]

Estate Planning Myth #5: Equal is Fair


April 22, 2014
avatar

I have noticed that many clients use the words “equal” and “fair” interchangeably in the discussion around leaving assets (especially to children and grandchildren). Unfortunately, when thinking through the ramifications of equal treatment, it often starts to not look as fair to all takers. One example involves the family business where one of the client’s […]

Estate Planning Myth #4: Anyone can write a simple will


April 16, 2014
avatar

This is somewhat correct: I clearly remember reading anomalous cases in law school about concepts like Holographic Wills and whether something as simple as “I leave everything to my wife” is a Will. A gentle reminder: I was reading these stories in a case book, which means these were matters that wound up being litigated. […]

Basics of Minnesota Medical Assistance


April 14, 2014
avatar

Over half of the population will require long-term care at some point in their lives.  Paying for long-term care is a topic that many people avoid addressing until the last minute; however, due to the rising costs of skilled nursing care it should really be addressed sooner rather than later.  In Minnesota the average daily […]

Estate Planning Myth #3: All I need I can find on legal zoom


April 11, 2014
avatar

Yes, there are forms out there, and yes, many documents that attorneys draft begin from a template or form. However, consider these two major points for discussion with this myth: first, the law is full of variation from state to state and forms may or may not be drafted with your state’s peculiarities in mind, […]

Estate Planning Myth #2: Death Taxes Only Affect the Super Wealthy


April 8, 2014
avatar

One wonderful thing about the first session of the 113th Congress was its efforts to enact a taxing scheme allowing an exemption from estate taxes for those with less than $5 million (indexed to inflation), and making permanent the concept of portability. These codified changes taken together mean that married couples with a combined net […]

Epilawg Series: Top Ten Estate Planning Myths


April 1, 2014
avatar

One of our great contributors here at Epilawg is Erika Stein Rosenhagen, an estate planning attorney practicing in Minnesota. Over the next month and a half we will be featuring a series of posts from Erika highlighting the top ten estate planning myths: what they are, why they are incorrect and items to consider about […]