One thing I learned quickly after becoming an estate planning attorney is that there are often times when my clients’ wishes are not the same as what I would do in their particular situation. For example, the first few times I encountered clients who wished to disinherit their children for reasons more emotionally driven than […]
Last week, Facebook announced that users of the social media website could designate a “legacy contact,” who would be able to control and manage the user’s Facebook page once the user passed away. The legacy contact would have some limitations to what they can do with the user’s account but they would be able to […]
If you have a current estate plan, as you know, we recommend that you review it on a regular basis. If there are changes that need to be made, it can be done through an amendment or codicil or through drafting the plan from scratch. Clients often think it is easier (and cheaper) to do […]
It will be the 8th anniversary of James Brown’s death on Christmas of this year and yet his estate still has not been administered according to his wishes in his Will. As we have witnessed with other celebrity estates, Mr. Brown’s estate is locked up in disputes between family members contesting the Will, fiduciaries’ decisions, […]
It is hard to believe we are at that time of year again when a new year will be upon us in only a matter of days. The countdown is on – only 30 days until 2015. Here are a few reminders of things to do before we say goodbye to 2014. Take Your Required […]
Estate planners do encourage clients to be specific with their various bequests within their estate plan. When describing gifts of both real and tangible personal property or defining beneficiaries, we want the assets and individuals to be identifiable. However, it can actually cause problems when clients get too specific and potentially lead to unintended complications […]
“Protecting Your Afterlife in the Digital Realm” Once again the discussion about planning for your digital assets received national attention on CBS Sunday Morning. The segment features various companies* that are helping individuals protect their digital assets and leave a digital legacy, such as Cirrus Legacy, If I Die, and LifeNaut. Additionally, it shares some […]
We’ve said before that Minnesota is not a favorable state in which to die because of the state’s estate tax laws. Some believe that the same is true for other tax reasons as well. While Minnesota does offer a lot to its residents, which attracts them to make Minnesota their home, there are people who […]
Unfortunately no matter how close a family might seem, it always has the potential to endure disputes between members either during everyone’s lifetimes or after someone has passed away. The fights can get ugly and feelings can get hurt. But often the disputes could have easily been avoided, or resolved, if individuals remembered the lessons […]
If you are a U.S. citizen, resident alien, or certain nonresident alien, you are required to report any foreign financial assets that meet the reporting threshold to the IRS. There are different filing requirements and it just depends on the type of assets and the reporting thresholds to determine the filings an individual is required […]
Employer: Stone Arch Law Office, PLLC Position: Attorney Location: Minneapolis Education: University of Minnesota (B.A.), William Mitchell College of Law (J.D.), Thomas Jefferson School of Law (LL.M.) How long have you been practicing? I opened my practice in February of 2014 after spending six years in trust and estate administration. What led you to practice […]