Summary of changes to the MN Statutory Short Form Power of Attorney

Maggie Green / June 19, 2013

Minnesota’s legislators have been busy working up new and exciting changes to Minnesota’s estate planning landscape. Perhaps less controversial and less exciting, (and, some would argue, more concrete) than the new Minnesota Gift Tax, this article will summarize some of the changes made to the Minnesota Statutory Short Form Power of Attorney document.  With its […]

TED Talks: Prepare For A Good End Of Life

Jennifer Santini / June 17, 2013

I recently came across this TED Talk by Judy MacDonald Johnston and thought she did such a great job starting the discussion on end-of-life planning that I had to share it with our readers. The video is worth watching (it is a short 6 minutes) and should be shared with any loved ones who are unwilling […]

Ella Fitzgerald

Jennifer Santini / June 15, 2013

April 25, 1917 – June 15, 1996 Ella Fitzgerald was a great American singer, who got her start when she entered an amateur contest at the Apollo Theater in 1934. Ms. Fitzgerald’s career spanned decades and “[b]y the 1990s, Ella had recorded over 200 albums.”1 Ms. Fitzgerald was diagnosed with diabetes later in life and […]

Will my heirs get everything?

Mathew Coyle / June 11, 2013

Aside from taxes, the topic that can typically cause the most confusion is the issue of which assets will pass to your loved ones tax free – and which are subject to estate taxation. Knowing your estate… There are costs associated with probate and those costs can be significant if you have not planned properly. […]

Robert Francis Kennedy

Jennifer Santini / June 6, 2013

November 20, 1925 – June 6, 1968 Forty-five years ago, our country was in a state of political unrest with the divisiveness of both the war in Vietnam and the war for equality in the Civil Rights Movement. 1968 saw the assassinations of two great men – Martin Luther King, Jr. and Robert F. Kennedy. […]

Spendthrift Trusts: Sometimes it’s What You Don’t Give That Matters Most

Philip J. Ruce / June 5, 2013

Nowhere are you more generous than with your family.  Whether you are saving for your children’s education, helping with the purchase of a first car, or helping to plan a wedding, your family is first in your mind and in your heart.  This generosity often plays out in perhaps the most tangible way when planning […]

Minnesota Gift Tax 2013

Maggie Green / June 3, 2013

Last month, the Minnesota Legislature passed the Omnibus Tax Bill.  Erik Doerr wrote a great overview of the Tax Bill for Epilawg, check it out here.  My article below will focus on the new (or reinstated) Minnesota Gift Tax. The Minnesota Gift Tax law will operate similar to the Federal Gift Tax.  It includes an annual exclusion. […]

Implementing a No-Contest Clause

Erin Hoolihan / May 30, 2013

Many people realize when creating a will the possibility that a beneficiary could contest their wishes if an uneven or unexpected distribution takes place.  When creating a will, some may wish to favor one beneficiary over another, while others may wish to benefit a non-profit or charity instead of a familial beneficiary.  The most likely […]

2013 MN Omnibus Tax Bill

Erik Doerr / May 28, 2013

I wanted to write and let you know the latest on the bill that has made it through both the house and the senate in Minnesota and was signed into law by Governor Dayton on May 23, 2013.  Here are the highlights as they apply to income, gift, and estate taxes.  There are a number […]

Domestic Asset Protection Trusts

Jayne Sykora / May 22, 2013

Often, clients ask if there is way to shelter their assets from creditors. In Minnesota, the short answer is: no. However, in a handful of states, there is a trust that could allow for someone to shelter their assets from potential creditors – or at least, minimize what the creditors could obtain. While we have […]

5 Quick Tips for Trustees on Upholding Fiduciary Duties & Avoiding Conflicts

Margie Jennings Meier / May 20, 2013

Serving as a trustee is not to be taken lightly. This is because in the context of trusts and estates, a fiduciary relationship exists between the trustee (a/k/a fiduciary) who holds and keeps a property interest for the benefit of one or more other people (a/k/a the beneficiaries). A fiduciary relationship has both legal and […]

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