So a funny thing happened when we introduced an amazing new idea to the funeral service industry. Using one-off manufacturing technologies, we were able to completely reinvent what was known as the common cremation urn. So a funny thing happened when we introduced an amazing new idea to the funeral service industry. Using one-off manufacturing […]
Occasionally a client will ask her attorney to serve as trustee (or trust protector). Any attorney considering acceptance of a fiduciary appointment must be mindful of several practical and ethical considerations. First, the attorney should determine whether her professional liability insurance covers acting as a fiduciary. The attorney should then consider the following ethical obligations […]
Since January 1, 1996, the State of Minnesota has taxed the income, both ordinary and capital gains, of what Minn. Stat. § 290.01, subd. 7b(a) defines as a “resident trust.” Such a trust is one that is not a grantor trust for tax purposes and that either (1) was created under the will of a […]
Fiduciary selection is often given insufficient consideration in estate planning engagements. Too often the process of choosing a fiduciary is limited to the consideration of which family members are disqualified from acting as trustee; with little or no consideration of the skills required of a trustee. An attorney must help her client understand the fiduciary’s […]
I’m twenty-four. I don’t have a home, a family I support, or any of the assets I typically see in an estate plan. On top of that, I’m young and plan to live at least into my sixties, so what is the point in investing in an estate plan? Over the past year learning more […]
I read a lot. I much prefer non-fiction over fiction though the other day, the (very) fictitious article entitled, “Whole Life Insurance vs. 529 College Savings Plans…Who Wins?”, got my interest as no other piece of fiction that I can recall. The author’s position (which I deduced from the title alone), is that whole life […]
A commonly overlooked piece of a person’s financial affairs is their digital footprint. In today’s digital world, online accounts to manage investments, savings, expenses, etc. are becoming more and more conventional. If tragedy strikes and you become incapacitated or if there is a death, would your family know how to access your online accounts? Where […]
As most know, on December 22, 2017, President Trump signed significant tax changes into law. Known as the “Tax Cuts and Jobs Act”, these changes have a significant reach in virtually every facet of the financial world. Here are a few things to keep a watch on with respect to estate planning. Tax Exemptions: A […]
Definition of Terms “Alkaline hydrolysis” (coined “wet cremation”) means the reduction of a dead human body to essential elements through a water-based dissolution process using alkaline chemicals, heat, agitation, and pressure to accelerate natural decomposition; the processing of the hydrolyzed remains after removal from the alkaline hydrolysis vessel; placement of the processed remains in a […]
Ownership of a Cemetery Lot Purchasing a cemetery lot is not an absolute title to the land, but it is sometimes designated as an easement, privilege, right (of burial), or license. Despite this, an owner is able to sue cemetery owners or strangers for disturbing the lot without consent while the lot is used as […]
Cremation, Burial, Whole Body Donation: Who Can Decide? The right to control the remains of a dead human body, including the location and conditions of final disposition, vests in the people listed below, in order of priority, unless other directions have been given pursuant to the decedent’s valid Will or Advanced Directive: The agent(s) listed […]