Think Before You Transfer

Jennifer Santini / October 17, 2013

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

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

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

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

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 […]

James Dean

Jennifer Santini / September 30, 2013

February 8, 1931 – September 30, 1955 James Dean was an American actor who had a very short career but who left a surprisingly lasting legacy. James Dean died at the young age of 24 in a car crash. He is best known for his role in Rebel Without a Cause, but his performances in […]

IRS Adopts “State of Celebration” Rule

Jamie Held / September 26, 2013

According to the IRS, same-sex couples who were legally married in a jurisdiction recognizing their marriage will be treated as a married couple for federal tax purposes, regardless of where they currently reside.  Revenue Ruling 2013-17 reassures “legally married same-sex couples that they can move freely throughout the country knowing that their federal filing status […]

Florence Griffith Joyner

Jennifer Santini / September 21, 2013

December 21, 1959 – September 21, 1998 Florence Griffith Joyner, also known as Flo Jo, passed away fifteen years ago today at the young age of 38. Griffith Joyner was an American track and field star, who most notably won three gold medals and a silver medal in the 1988 Olympic Games in Seoul, South […]

And the Huguette Clark estate drama continues

Maggie Green / September 20, 2013

Huguette Clark’s estate litigation reaffirms some lessons that we already know.  Primarily, caretakers and advisors must take precaution when conflicts of interest arise, namely when they receive more benefits from a client than they would otherwise receive for their services. We all know that, as advisors, we should take extra steps to ensure that the […]


Jayne Sykora / September 16, 2013

Oftentimes, some property in a decedent’s estate will be unique and difficult to value, like: a business, artwork, jewelry, collectibles, or real estate. Oftentimes the value will be needed to help complete an inventory in a probate and/or to determine any estate tax impact on the estate.  Additionally, objective appraisals can also help minimize or […]

Renter’s Rights At Death

Jennifer Santini / September 12, 2013

We have written at length about the various estate administration tasks that arise when an individual passes away. One major task for the estate administrator (either personal representative or trustee) or family members is cleaning out the decedent’s home. When the decedent owned his or her home, the estate administrator has time to get the […]

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