The Right Time To Get Out

Jennifer Santini / November 18, 2013
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Last week the company Snapchat, and its founders, made headline news when they rejected a $3 billion deal from Facebook. Why did they reject the offer? It has been reported it was because they felt there was more to earn down the road. Did they pass up a deal of a lifetime? Or will they […]

Estate Planning Tips for the Sandwich Generation

Erika Stein Rosenhagen / November 12, 2013
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While long proven to be a delectable meal, a sandwich as applied to the “sandwich generation” is significantly less appealing. For many of us, we are facing a time where our parents and our children need us simultaneously – and frequently this is occurring during a period in our professional lives when our employers’ and […]

Norman Rockwell

Jennifer Santini / November 8, 2013
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February 3, 1894 – November 8, 1978 Norman Rockwell is an American artist, whose works of art often portrayed a certain innocence regardless of the subject of the paintings. Rockwell was born in New York City and began his career as an illustrator. He painted his first cover for The Saturday Evening Post when he […]

The Debt Left Behind by a Spouse

Jayne Sykora / November 4, 2013
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As discussed in a previous post, preparing for a death of a spouse can be extremely difficult and nearly unbearable to even think about. However, it is important to understand the financial impacts so that, if and when the time comes, the surviving spouse is equipped with the right information and is organized. This preparation […]

Doris Duke

Jennifer Santini / October 28, 2013
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November 22, 1912 – October 28, 1993 Doris Duke was the sole child of the tobacco tycoon, James Buchanan (“Buck”) Duke, and inherited a large portion of his estate upon in his death in 1925. While it is not exact, Ms. Duke inherited  tens of millions of dollars in trust. On her 21st birthday, she […]

Property and Revocable Trusts – MN Estate Tax Update

Maggie Green / October 23, 2013
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Individuals that own property in multiple states often consider placing the property into a revocable trust for planning purposes. While this can be an effective planning technique, there are some important points to consider. For purposes of the new Minnesota estate tax [2], a Minnesota resident’s gross estate includes any property that is physically located […]

Think Before You Transfer

Jennifer Santini / October 17, 2013
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Clients often talk about transferring property either to other individuals, into a trust, or into a pass-through entity for a wide array of reasons. One of the top reasons is typically to avoid probate. Another reason can be for tax purposes. However, with the change in Minnesota law, there may now be adverse consequences to […]

Your Assets Matter

Jamie Held / October 15, 2013
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A while back I introduced the topic of Revocable Trust versus a Will.  This post explores the first consideration in making this decision … what type of assets do you own, how are they owned and how do you feel about probate.

Cancellation of Debt

Jayne Sykora / October 10, 2013
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We have written here at Epilawg about a handful of tax topics, mostly related to estate or gift taxes. What has not been discussed is cancellation of debt (C.O.D.) taxation, which could have quite an impact on a person’s estate. What is C.O.D.? Depending on the circumstances, cancellation of debt taxation may arise if you […]

Beneficiary Designations and Estate Planning for Retirement Accounts

Maggie Green / October 7, 2013
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One of the most commonly overlooked items I see in client’s estate plans and during probate administrations is retirement accounts and their beneficiary designations. I think this has to do with the cumbersome nature of updating beneficiary designations.  You call the plan administrator or custodian who sends you paperwork with tiny print and all sorts […]

MNsure Enrollment Opens

Jennifer Santini / October 1, 2013
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The new insurance marketplaces, including MNsure, are set to open today for enrollment (although the latest news is that the exchange will not go live until later this afternoon). Coverage is set to begin on January 1, 2014. These new insurance marketplaces are the cornerstones of the Affordable Care Act. They are to provide a […]