People need fiduciaries for a variety of reasons, but this article is written with elderly people who are incapacitated by dementia in mind. Dementia is an umbrella term that describes a variety of diseases that affect memory, attention, language, and problem solving abilities to such an extent that daily living is seriously affected. I […]
We have had many posts related to choosing guardians for your children should something happen to both parents before their children reach the age of majority: Appointing a Guardian for Minor Children, How to Choose A Guardian, among other miscellaneous references to the importance of having an estate plan when you have minor children. As […]
When a trust is created, it is always important to choose the right trustee. Generally, a trustee should be an individual(s) or company that is detail-oriented and will follow all required fiduciary duties. In previous posts, a trustee’s fiduciary duties and responsibilities have been outlined and discussed. Normally, a trustee is all that is needed […]
March 2, 1917 – December 2, 1986 Desi Arnaz died at the age of 69 of cancer. He was from Santiago, Cuba and move to the United States with his family when he was young. He began his career as a musician and made his way to Broadway. He met his famous wife, Lucille Ball, […]
As previously written in Trusts and Minnesota Farmland, the Corporate Farm Act imposes restrictions on the ownership of farmland here in Minnesota. Among other things, it requires that certain entities such as Partnerships, LLCs, and Trusts qualify under Minnesota Statute 500.24 in order to hold title to farmland. The result is that if an individual […]
September 5, 1946 – November 24, 1991 It has been over 20 years since the face of the band Queen, Freddie Mercury, passed away at the age of 45. Mercury was born in Zanzibar and ultimately moved to England in 1964 to flee the Zanzibar Revolution. In 1970, Queen was formed. Mercury worked with the […]
What is a Spendthrift Trust? A spendthrift trust is one in which the right of a beneficiary to future payments from the trust cannot be voluntarily or involuntarily transferred by the beneficiary or reached by the beneficiary’s creditors. While in trust, assets are unattainable until they are distributed. The beneficiary of a spendthrift trust does […]
I am familiar with the American Cancer Society; as I am sure most people are … their healthy living campaigns, push for early detection, and tireless efforts researching cancer causes and cures. However, the American Cancer Society offers a great deal more, particularly in the area of supporting those currently undergoing treatment for cancer. I was […]
Let’s face it. Needing to buy life insurance for your kids tops the list of Things No One Wants to Think About. It’s difficult to look at the long-term and financial reasoning behind a topic which is full of emotion. Parents often can’t address it and many life insurance agents don’t broach this awkward conversation. […]
This is the final post in a three part series on pre-planning for your death. In the first part, terms related to pre-planning for your death were defined. In the second part, exactly what happens to your remains after you die was covered. Now, steps to pre-planning your funeral will be discussed. This series is […]
One of the main goals at Epilawg is to help you plan your own epilogue to your life. Many of the posts here discuss passing on what you’ve accumulated during your lifetime to your loved ones. However, what if everything you accumulated throughout your life is lost because of your health? Because you did not […]