Safely storing and sharing passwords

Maggie Green / October 7, 2015
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Maintaining passwords is an evolving game. Experts recommend that you keep different passwords for each online account, all with at least 8 characters comprised of uppercase, lowercase and at least one number/symbol. Personally, this is too much for me to keep track of and so I use a password manager. Many of you may be […]

An Introduction to Trusteed IRAs

Maggie Green / June 8, 2015
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An individual retirement account (IRA) is typically established in one of two ways. As a custodial account, where the bank or financial institution is simply acting as a fiduciary and must follow the directions of the account owner (including the instruction to cash out the entire balance). An IRA can also be held in trust (the […]

Minnesota and the UTC

Maggie Green / February 19, 2015
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The 2015 Minnesota Legislature may adopt the Uniform Trust Code.  The proposed legislation would provide new rules regarding the administration of trusts, codify some common laws and clarify procedures available to those involved with the administration of trusts.  Take a look at this review on JD Supra that outlines the changes and impact that the proposed legislation will have […]

Privacy and your estate plan

Maggie Green / January 19, 2015
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The British government announced recently that 4 million historical wills have been digitized and are now available for download by the public. As in the United States, these documents were previously available by traveling to the probate court and searching the available public records. Now anyone with an internet connection and a credit card can […]

Intestate succession for a blended family

Maggie Green / November 18, 2014
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A married couple, of which each spouse has children from previous relationships, faces certain issues with regard to distribution of their estates. The most basic of these issues involves what happens if a spouse dies without a will. When any individual dies without a will, the statutory rules for the intestate succession dictate the distribution of […]

Mother’s Day “must read” article

Maggie Green / May 12, 2014
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I have recommended Deborah Jacob’s in the past, but Advice for New Mothers – and Procrastinators is spot on. Covering all of the important estate planning issues for young parents, her advice mimics many of the suggestions I give to clients who have minor children. She provides an option for parents who cannot decide on a guardian, links to the Mummy Manual (an example of […]

The Bitter End

Maggie Green / March 19, 2014
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It’s a shocking and infrequently cited fact that the death rate among the human population in the United States is 100%. It will happen to all of us. When you think of it this way, the idea of having a Health Care Directive or Living Will is not so much a “what if” piece of […]

Organizing Your Accounts and Passwords

Maggie Green / March 5, 2014
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I emphasize to all of my estate planning clients the importance of keeping track of your assets, what they are, where they are located, etc. The reason: a Will or Trust instructs your Personal Representative or Trustee on how you want your assets to be distributed after your death, but not always what those assets […]

Trust Mills and Bad Estate Planning

Maggie Green / February 13, 2014
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I recently read this article about a so-called “living-trust mill” that is being sued by the Minnesota Attorney General. According to the article, the Minnesota Attorney General is alleging that clients of Heritage Partners were sold “boilerplate documents” assembled by a gentleman in Arizona who is not licensed to practice law in Minnesota and paid a […]

Estate denied property tax refund

Maggie Green / December 19, 2013
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The tax code is riddle with nuances. Some of these nuances are beneficial to clients, others can be frustrating. Recently, I had an estate administration client come to me with a letter from the Minnesota Department of Revenue stating that a decedent’s property tax credit was being adjusted to $0.00. Unfortunately, the letter failed to site […]

Don’t be an ostrich

Maggie Green / December 2, 2013
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I love this article by Deborah Jacobs because it brings to the forefront some important reasons to talk about estate planning. Plus, with all of the family gatherings this holiday season, the article is timely written. Everyone (well, almost everyone) has heard a horror story about an estate administration gone wrong. The once cohesive and happy family […]