It is a common misconception that estate planning is only necessary for the wealthy or those with a spouse and children. However, all individuals, no matter what their financial situation may be, can benefit from preparing for the future with estate planning tools, too. An estate plan includes more than creating a Will or trust […]
It is a common misconception that estate planning is only necessary for the wealthy or those with a spouse and children. However, all individuals, no matter what their financial situation may be, can benefit from preparing for the future with estate planning tools, too. An estate plan includes more than creating a Will or trust […]
As reported on Forbes.com, September was World Alzheimer’s Month. It hasn’t been officially extended to October but the topic is so relevant that we should continue to consider the impact of the disease on our society. In particular, the impact of the disease on individual sufferers and their families. Here are a few relevant points […]
Anyone who attended a Twin Cities Pride event this summer can attest to the vitality of Minnesota’s gay, lesbian, bisexual, and transgender (GLBT) community. The turnout and support for the GLBT community proved Minneapolis deserving of the honor, “Gayest City in America,” bestowed on the city earlier this year by The Advocate. As an estate […]
Revocable trusts have many benefits. They typically allow for a smooth transition of assets when an individual dies, they can avoid the probate process, and they may incorporate transfer tax planning techniques such as disclaimers, QTIP trusts, and GST provisions (to name a few). While these benefits are great, the unsung heroes of the revocable […]
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 […]
Clients can become confused and overwhelmed by the various roles and individuals named in their estate plan. In a previous post, I outlined the traditional key players in a typical estate plan. However, guardians, conservators and custodians are three roles that can come into play when an individual has not properly planned and therefore, clients […]
Growing older is a fact of life, but how and where we age is a matter of personal choice. Whether you are a member of Gen Y, Gen X, the Baby Boom, or the Silent Generation, you have an opportunity to define the next years of your life on your own terms. But it’s an […]
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 […]
We often talk about new parents needing an estate plan to ensure they have guardians appointed for their minor children (see the recent article Appointing a Guardian for Minor Children). However, older parents with adult children should also be encouraged to have an estate plan in place. We find that most individuals truly understand the […]
Succession Planning from a small business owner’s perspective It has been covered a lot – and in this very blog – so you may have heard it before: succession planning for business owners is essential. Stuff happens, and when it does, Business Owner, you need to be sure that your business survives by explicitly specifying […]