In Minnesota, it is important to know which assets are excluded for Medicaid/Medical Assistance (MA) eligibility purposes when contemplating MA Long-Term Care benefits for individuals who are 65 years of age or older, blind, or disabled. This article focuses on excluded assets for MA eligibility purposes, and will not detail income requirements, asset allowances for […]
A trust instrument, under the new Minnesota Trust Code (“MN Trust Code”) in Minn. Chapter 501C, can be drafted* in a multitude of manners to convey the settlor’s intentions. The terms of the trust instrument can be drafted contrary to certain provisions in the MN Trust Code. Such terms of the trust instrument will govern […]
It has been mentioned here on Epilawg a few times already that Minnesota adopted a new trust statute. The specifics of the Minnesota Trust Code can be found in Minn. Ch. 501C (“MN Trust Code”) and has come to fruition by the countless hours and effort of a committee of local trusts and estates attorneys. […]
Recently I read about a course that is offered by New York’s Zen Center for Contemplative Care called “How To Live This Year As If It Were Your Last.” The course is led by two Buddhist monks, who inform the students on the first day of class that they have nine months to live. For […]
Former NBA and reality TV star, Lamar Odom, was found unconscious on October 13, 2015, and remains hospitalized in Los Angeles. Odom and his wife, Khloe Kardashian, had been separated for years and were in the middle of a divorce that had not been finalized, allowing his estranged wife to serve as his health care […]
DWI’s are much more common than you may think. In fact, someone within your group of friends and/or family likely has a DWI, even if you don’t know about it. And let’s be clear, getting a DWI doesn’t make someone a criminal or even a bad person. In all likelihood, it was a mistake, a […]
Bucket Lists have grown in popularity in the last few years. While it might seem important that you go skydiving, and swim with the dolphins before you die I would suggest taking a look at the below list and giving these items priority. Many of these items have been discussed in detail in other posts […]
As I wrote in my past article, Hands Off, Creditors!, when someone passes away intestate in Minnesota there are several assets that pass to a surviving spouse and/or children free from claims and creditors. As a reminder, those assets are: The homestead (under Minn. Stat. §524.2-402); Exempt property, which includes one vehicle (regardless of value) […]
In the four years since this site last addressed Donor Advised Funds, this tax planning tool has grown significantly in popularity. Between 2011 and 2013, total assets in Donor Advised Funds grew from $38 billion to almost $54 billion, and the trend doesn’t seem to show any signs of slowing down. While many advisors consider […]
As a freelance probate and estate planning legal assistant/paralegal (call me what you like) I work with a lot of real estate documents. Most commonly I’m involved in preparing and recording… Quit Claim Deeds transferring property into a trust; Deeds of Distribution distributing property out of an estate; Trustee’s Deeds (along with an accompanying Certificate […]
Maintaining passwords is an evolving game. Experts recommend that you keep different passwords for each online account, all with at least 8 characters comprised of uppercase, lowercase and at least one number/symbol. Personally, this is too much for me to keep track of and so I use a password manager. Many of you may be […]