There is often confusion about what to do when a beneficiary inherits a retirement account. The answer is… it depends. There are different factors to determine the best course of action, such as the beneficiary and the age of the decedent. For purposes of this article, the term “retirement account” will be used to encompass […]
Although most of us would consider our estate planning attorney to be superhuman, the fact of the matter is that sometimes they are unable to perform their duties. In a recent case, the district court found that the physical and mental ailments of an estate planning attorney did not provide reasonable cause for the estate […]
Escheat is the forfeit of all property to the state when a person dies without heirs, descendants, or named beneficiaries. Escheat of property occurs when it appears from a petition or application for probate, or otherwise in a proceeding in a court, that a decedent left surviving no spouse or kindred. A court then will […]
June 3, 1926 – April 5, 1997 As the website of the Allen Ginsberg Estate states, Allen Ginsberg was a “Renowned poet, world traveler, spiritual seeker, founding member of a major literary movement, champion of human and civil rights, photographer and songwriter, political gadfly, teacher and co-founder of a poetics school.”1 Ginsberg is one of […]
Earlier this month, Supplemental Needs Trusts were discussed. Today, we’ll focus on Special Needs Trusts. A Special Needs Trust is a tool in which a person with a disability is able to retain their assets by placing them into a trust to use the assets to supplement the government benefits the disabled person will receive […]
May 31, 1819 – March 26, 1892 It is the 120th anniversary of Walt Whitman’s death. Walt Whitman spent his life writing poems, essays and working as a journalist. Probably his most famous work was Leaves of Grass, a collection of poems that Whitman began working on in 1850 and continued revising throughout the rest […]
Personal representatives and trustees are commonly responsible for distributing real property from an estate or trust to its designated beneficiaries. Such distributions present unique challenges for personal representatives, trustees, and beneficiaries alike. To this end, there are several considerations that should be made prior to distributing real property from an estate or trust.
Across the board, the significant majority of personal injury lawsuits and workers’ compensation claims are resolved through settlement. The reasons for the high percentage of cases that settle are myriad. Our crowded court system and resulting delays can wear down litigants; the increase in alternative dispute resolution helps cases resolve before trial; the inherent unpredictability […]
A few months ago, I wrote about the importance of having life insurance to help provide for your family upon your death. Today I write about life insurance again, but from a different perspective: what if something unexpected happens to your child? I know that no one likes to think about this scenario, but just […]
• Name: Janelle A. Schrupp • Employer: Schrupp Law, PLLC • Position: Attorney • Location: 7760 France Ave S., Suite 215, Edina, Minnesota • Education: St. Olaf College, William Mitchell College of Law How long have you been practicing? Since October, 2008 What led you to practice in the area of estate planning? I went […]
February 2, 1905 – March 6, 1982 It has been 30 years since Ayn Rand passed away. However, her philosophical and political theories are still common in debates today. Her two most famous novels, The Fountainhead and Atlas Shrugged have been used by the right-wing to bolster their argument for pure capitalism and smaller government, […]