Death may be universal, but how it has been handled varies significantly from culture to culture. Below is a very small sampling: Ancient Egypt Funerals, or the rituals surrounding death, were at the heart of public life in ancient Egypt. The pyramids, Valley of the Kings, and King Tut’s tomb are all evidence of the […]
The duty of independence requires that the trustee remain independent from and impartial to the various beneficiaries. Bogert’s Trusts and Trustees explains, “A trustee who holds for successive beneficiaries owes a duty to them to administer the trust with impartial consideration for the interests of all the beneficiaries. He [or she] should not unnecessarily show […]
Naming a Guardian for your minor child(ren) is a difficult task. There is no perfect choice because there is no second you. However, it must be done. The alternate to you naming a Guardian is a judge, who does not know you, your children, or the guardian options, making the choice for you. WHO TO […]
This past year a college friend passed away. I realized that this was the closest and most poignant death I faced since joining Facebook and realized that this social media outlet has changed the process of grieving.
As many of you Epilawg readers know, we provide a free Health Care Directive form on this site for Minnesota residents. We’ve heard from some of you that you’re (pleasantly) surprised about the form. Many believe that you need an attorney to complete a Health Care Directive in Minnesota, which is not true. An attorney […]
The duty to follow the written trust instrument is fundamental to a successful trusteeship. This duty requires a trustee to, “carry out the directions of the testator or the settlor as expressed in the terms of the trust.”[1] If a trustee’s actions are questioned, a court will look to the trust instrument when assessing whether a trustee […]
Are you and your spouse both U.S. citizens? If not, the foreign citizenship of you and/or your spouse may have a surprising estate tax impact. THE MARITAL DEDUCTION If an individual’s estate exceeds the estate tax exemption amount ($1 million for federal and Minnesota estate taxes in 2011, if no Congressional action), he or she […]
“Basis” is not something that is simple to explain these days. Up until last week, the basis rules that apply to decedents in 2010 were in limbo. This article WILL NOT cover the advanced estate planning issue of basis allocations in 2010 and how they relate to the federal estate tax. Instead, this is an […]
“Man’s best friend” Ironically, the phrase “man’s best friend” was coined by an attorney. In 1869, a man’s dog was shot and killed by his neighbor; he hired three attorneys to sue the man who shot his dog. One of the three attorneys used the phrase “man’s best friend” during his closing argument to the […]
Business succession planning is an important issue that should be addressed not only as part of an individual business owner’s estate planning process, but also by all of the owners of family-owned and closely-held businesses. Whether a business is owned by a single individual or a large group of investors or family members, everyone with […]
Each year thousands of people who will be getting married need to consider whether or not they will change their last name. This no longer applies just to women. More often, men are considering changing their last name and more same-sex marriages are occurring. If an individual does decide to change his or her last […]