Cost and convenience are often deterrents to completing an estate plan. Consequently, many individuals and couples turn to “Do-It-Yourself” (DIY) options. Plenty of DIY options exist: websites, other online applications, books with CDs, etc. These options are admittedly less expensive; however, you get what you pay for … and that is not much. These options […]
I cannot emphasize enough to my clients the importance of beneficiary designations. A beneficiary designation describes how your assets will be distributed upon your death. It is a form you complete with a financial institution (or your Human Resources department) pertaining to certain assets, for example, when you establish a life insurance policy or create […]
When I ask a probate client if the decedent (or decedent’s predeceased spouse, if any) received medical assistance, I often receive a confused look. I make this inquiry because if the decedent (or decedent’s predeceased spouse) received medical assistance there may be a medical assistance lien filed against real property owned by the decedent. Before […]
In my practice, I am regularly asked many questions about completing a Health Care Directive: Who should I name as my health care agent? Can I name all __ (pick a number) of my kids? What if my agent lives out of state? What if my wishes change regarding the instructions listed? What if technological […]
Pop star Britney Spears found herself in the news again last week, when the story broke that the 29-year old singer’s father will remain her conservator for the remainder of the year. Three years ago, Spears became subject to a court-ordered conservatorship and guardianship when she had several public meltdowns and was ultimately placed on […]
Employer: Co-Owner of The Law Firm of Roberts & Stotzheim, PLLC Position: Attorney Location: St. Paul (a proud resident for 15 years) Education: J.D. – Hamline University Questions How long have I been practicing? I have been an attorney since 2006. What led me to estate planning? When I worked for Judge Yunker, it seemed […]
Epilawg first brought you the story of Wellington R. Burt on May 24, 2011, in Unusual Will Provisions in a Multimillion Dollar Estate. The saga appears to have finally been laid to rest, 92 years following Burt’s death. Burt’s $100 million to $110 million estate was distributed to 12 heirs who did not even know the man […]
Wellington R. Burt made millions off Michigan’s lumber industry and Minnesota’s iron mines. At one point, Burt ranked among the eight wealthiest men in America. He died on March 2, 1919, leaving an estate estimated, at the time, at $40 million to $90 million. For some his death marked the beginning of a long wait. […]
Many people are breathing a sigh of relief now that the deadline (April 18 this year) for individual income tax returns has passed. But, did you remember to file your Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return? Gift Tax Returns were due on the same day as your individual income tax return.
Probate, among other things, is intended “to promote a speedy and efficient system for liquidating the Estate of the Decedent and making distributions to his successors.” A traditional probate administration is neither “speedy” or “efficient” for a small estate; therefore, Minnesota law provides an alternative if the net value of the Decedent’s probate assets do […]
Call it coincidence or fate but Al Barnes, the 85-year-old Scandia, Minnesota man at the center of a court battle between his wife and his doctors regarding his treatment, passed away on Monday morning; the same day a ruling was expected from the Hennepin County Probate Court to allow the removal of life support.