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. 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 […]
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, […]
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 […]
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 […]
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 […]
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 The statute was originally enacted in 2011 (and has subsequently been updated).
On June 12, 2014, the U.S. Supreme Court ruled on a divisive bankruptcy and estate planning case. At issue was whether an individual retirement account (“IRA”) that a debtor inherited was exempt from the debtor’s bankruptcy estate under the Bankruptcy Code. The Bankruptcy Code permits a debtor to protect assets that are in a “retirement […]
I love finding new estate planning authors and professional bloggers to follow. They inspire me improve my writing and help me think of better ways to discuss estate planning concepts with clients. Two women in particular, Natalie Choate and Deborah Jacobs, are definitely worth following. So, if you are looking for talented, professional estate planning […]