As tax season is wrapping up I’ve found myself busy with a few estate tax returns, and wanted to share 7 Tips to keep in mind when completing a United States Estate (and Generation-Skipping Transfer) Tax Return – aka the 706. The federal form (coming in at 31 pages before any schedules and supporting documentation […]
This is a first in a series of posts discussing different aspects on the new statute, Minnesota’s Uniform Trust Code (UTC), which becomes effective January 1, 2016. While this series will be useful information for all Epilawg readers, it is geared towards those readers that are attorneys, fiduciaries and their clients. At long last, Minnesota […]
Designation of Standby or Temporary Custodian for your Child So, you and your spouse are finally ready to take that vacation to Mexico – without the kids. The flights are booked, your bags are nearly packed and thoughts of warm weather and a beach are in the forefront of your mind . . . as […]
Collecting Final Wages from Your Employer Most of us don’t work for free. If your employer hasn’t paid you all of the wages you’ve earned, then that’s exactly what you’d be doing. What follows is a quick guide on what to do if your employer owes you wages. The rules for wages due to an […]
I really don’t know how probate got such a bad reputation, but in my experience it isn’t that bad. As other contributors to Epilawg have noted (see for example: Estate Planning Myth #6: I Must Avoid Probate), Probate can be a pretty painless process. Closing an Informal Probate illustrates that point perfectly. In 3 easy […]
We’ve written before about prenuptial agreements (“prenups”), which are agreements entered into by a couple before marriage that most often outline the ownership and division of property should a marriage end either by divorce or death of one of the spouses. In previous posts, Jen Santini provided a general overview of prenups and Erika Rosenhagen […]
Oftentimes, on the cusp of starting a new business, a business owner(s) is excited, slightly anxious, and cautiously optimistic about the future. In this haze of excitement, what often is not discussed, considered or even understood, is what happens if the business does not succeed, or, the owner(s) simply wants out. According to the Small […]
One thing I learned quickly after becoming an estate planning attorney is that there are often times when my clients’ wishes are not the same as what I would do in their particular situation. For example, the first few times I encountered clients who wished to disinherit their children for reasons more emotionally driven than […]
Last fall, I covered the basics on conservatorships (see: Conservatorship Basics Part 1 and Part 2). As a review, a conservatorship is needed when an adult individual is impaired to the extent of lacking sufficient understanding or capacity to make or communicate responsible personal decisions, and who has demonstrated deficits with managing property and business […]
The 2015 Minnesota Legislature may adopt the Uniform Trust Code. The proposed legislation would provide new rules regarding the administration of trusts, codify some common laws and clarify procedures available to those involved with the administration of trusts. Take a look at this review on JD Supra that outlines the changes and impact that the proposed legislation will have […]
Last week, Facebook announced that users of the social media website could designate a “legacy contact,” who would be able to control and manage the user’s Facebook page once the user passed away. The legacy contact would have some limitations to what they can do with the user’s account but they would be able to […]