Questions regarding final disposition of human remains and the legal right to control such disposition sometimes become litigated issues during estate planning, long-term care planning, or probate. Estate planning and elder law attorneys should be aware of how a person purchases burial space, prepays for funeral services, or transfers/sells rights to burial space. Whether you […]
The Achieving a Better Life Experience Act (ABLE Act) was enacted on December 19, 2014. Minnesota enacted ABLE accounts into law in 2015. An ABLE account is established through a savings plan known as the Minnesota ABLE Plan in compliance with Minn. Stat. § 256Q.01. ABLE accounts are tax-exempt accounts (treated like 529 Plans) that […]
Whether you own a property as joint tenants or tenants in common can make a big difference as to what you own and how that plays out for estate planning. Joint tenants own an undivided interest in the real property whereas tenants in common own a specific percentage of the property. With joint tenancy, title […]
Until recently, vehicles in Minnesota were always considered potential probate assets if titled in the decedent’s name alone. This could cause unnecessary and prolonged hassle to surviving family members who either inherited a vehicle or were looking to sell the vehicle. Now, according to new Minnesota Statute 168A.125, vehicles may now allow a transfer-on-death (TOD) […]
As pets continue to be included in estate plans, make sure you’re aware of Minnesota’s Statutory Pet Trust. Big bucks can sometimes be at stake, as was the case here when a famous author left her cats $300,000
“D.I.Y.” You probably see that acronym often. It stands for “Do-It-Yourself” and is often used when discussing home repairs, decorating projects, or gift ideas. For example, if I need to fix a small chip in the paint on my wall, I may try to do it myself instead of hiring a painter to do it […]
Ongoing changes to family structures in modern society have increased the occurrence of half-blood survivors of decedents. When a decedent dies without a will, they are said to have died “intestate.” Each state has enacted intestate-succession laws, which provide rules for the distribution of assets in the absence of a will. These intestacy laws dictate […]
In my first Epilawg installment, I wrote on the estate-planning needs of people with diminished capacity. This blog post will dive into the discussion that takes place at a first meeting with a client. People with diminished capacity will nearly always come to the meeting accompanied by a spouse, child, or loved one. This is […]
Divorcing couples likely feel relief once they learn that the court has signed an order legally ending the marriage. However, just because the order is signed does not mean the divorce process is done – new deeds need to be recorded, mortgages assumed by one party or the other, credit cards paid off and closed, […]
As of August 1st of this year, agriculturalists will now be benefited by a change in Minnesota Statutes Section 500.24. The statute has been amended in order to eliminate the need for Revocable Trusts to file with the Minnesota Department of Agriculture. Previously, Certificate Holders, including Revocable Trusts, were required to be certified and submit […]
Life insurance is not something many people think of when it comes to estate planning. Let’s face it, it’s a boring product that people tend to think of when they are getting a mortgage! However, you may not realize that top professionals in estate planning work along with insurance pros to use life insurance as […]