Diminished Capacity and Estate Planning

Courtney Sebo / June 30, 2017
avatar

As anyone who has created an estate plan knows, in order to finalize the plan, you must sign documents.  These documents may be wills, trusts, powers of attorney, health care directives, deeds, or any other related form or document.  In order to sign these documents, a person must have sufficient capacity, otherwise the documents may […]

Estate Planning: Planning for the Physical Care of Children in Minnesota

Michael Divine / August 16, 2016
avatar

This article discusses some of the legal documents that can assist in planning for the physical care of a minor child in the event of a parent’s death or incapacity. Minnesota law provides that a parent may appoint a guardian over a minor child by will, designation of standby guardian, or certain other signed writings […]

SECTION 179 – WHAT IS IT AND WHAT IS NEW FOR 2016

Erik Doerr / July 18, 2016
avatar

Recently we have been meeting with many of our clients to discuss operational results for the first half of the year. Generally speaking, business is up from last year for my clients. As a result, people are starting to think about the higher tax bill they are likely to encounter. With higher tax bills looming […]

Life Insurance for Family Business Owners

Bob Cohen / April 5, 2016
avatar

Owners of family businesses often find themselves in a dilemma over how to treat their adult children fairly when one or more is interested and capable of taking over the business and the other adult children are not.  Certainly, the owners are not about to turn over their life’s work to anyone (their closest kin […]

The Power to Revoke at Any Moment

Sarah Sicheneder / March 17, 2016
avatar

A popular saying goes “bad planning on your part does not constitute an emergency on my part.”  Estate planners cannot rely on such platitudes.  It is our job to fix bad planning especially in emergency situations which often involve quickly revoking one or all prior estate planning documents.  This article provides guidance on revoking the […]

Is the will I had drafted in another state OK to use in Minnesota?

Philip J. Ruce / September 21, 2015
avatar

  Minnesota is a pretty amazing state. We have great parks, great educational and business opportunities, great health care, and — let’s face it, — we’re ridiculously good looking.[1] But for all its up-sides, those perks come with a cost. First, Minnesota can be an expensive place. Also, it gets cold. So it’s no surprise […]

Robin Williams’ Estate: (Update) Subject to Probate?

Kim Prchal / September 15, 2015
avatar

In August 2014, I posted an article about Robin Williams’ estate plan.  Now, 13 months after his death more details have been revealed regarding his estate plan and unfortunately, the court battles have begun. So the good news.  Robin did have an estate plan; an updated estate plan to boot.  He was married in 2011, […]

The Expert Institute’s Best Legal Blog Competition

Jayne Sykora / September 8, 2015
avatar

Epilawg is in the running for The Expert Institute’s Best Legal Blog Competition! The competition will run from August 27th until the close of voting at 12:00 AM on October 9th, at which point the votes will be tallied and the winners announced. We would love it if you took a moment to support Epilawg by voting for […]

Drafting Considerations from a Corporate Trustee

Robyn Ingber / August 27, 2015
avatar

As a Relationship Manager for a corporate fiduciary, I am often asked by my peers in the estate planning community about typical problem areas to keep in mind when drafting a trust document. Here are three topics to closely consider to ensure the grantor’s intentions are met: Outside Resources A standard question most planners will […]

Delegation of Powers by Parent or Guardian

Anna Lima / August 20, 2015
avatar

Parents, legal custodians, or legal guardians periodically find themselves in a position that necessitates granting power to another adult regarding the care, custody, or property of a minor child or incapacitated person (ward). Examples may include a vacation out of state or country, a long term illness, or other extenuating circumstances.  One way to delegate […]

Qualified Small Business Deduction

Jamie Held / November 26, 2014
avatar

The Qualified Small Business Deduction (“QSBD”) under Minn. Stat. § 291.03, provides an additional deduction for Minnesota estate tax purposes for the value of qualified small business property passing to a qualified heir. The statute was originally enacted in 2011 (and has subsequently been updated).