Who Cares If Stretch IRAs Are Eliminated?

Chris Revak / August 29, 2013
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Only wealthy people benefit from the “loophole” anyways. Retirement plans were never intended to be an estate planning tool. It won’t impact me. I don’t care. These are some of the comments in the press right now regarding proposed legislation to end the ability of heirs to take inherited IRAs out over their life expectancies […]

Summary of changes to the MN Statutory Short Form Power of Attorney

Maggie Green / June 19, 2013
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Minnesota’s legislators have been busy working up new and exciting changes to Minnesota’s estate planning landscape. Perhaps less controversial and less exciting, (and, some would argue, more concrete) than the new Minnesota Gift Tax, this article will summarize some of the changes made to the Minnesota Statutory Short Form Power of Attorney document.  With its […]

Mom, Dad, are your financial affairs in order?

Jamie Held / July 13, 2012
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While speaking to clients regarding their estate plan, the topic of conversation often shifts to … “I wonder if my parents have done any planning?” As we get further into the discussion of expenses – the cost of funerals, burials, cremation, estate administration, etc., I regularly hear … “I am concerned about my parents’ financial […]

Economic Update

J.B. L'Esperance / May 9, 2012
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Our good fortune has continued with expanded growth in the markets.  This is typical of an election year and if history is any indication, there should be more of this to come.  The Dow Jones Industrial Average is up over 13,000 and the NASDAQ Composite has reached a new high as well (much of this […]

Arresting Motion: Estate Planning for Artists

Christi Cottrell / February 14, 2012
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“The aim of every artist is to arrest motion, which is life, by artificial means and hold it fixed so that a hundred years later, when a stranger looks at it, it moves again since it is life.” ~William Faulkner, Author and Nobel Prize Laureate. Part I: The Big Picture. As an estate planning attorney, […]

Teach Your Children Well Part 3: Financial Education for Teenagers

Eric Simonson / March 17, 2011
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Earning and handling income Older children (especially teenagers) may earn income from part-time jobs after school or on weekends. Particularly if this money supplements any allowance you give them, wages enable children to get a greater taste of financial independence. Earned income from part-time jobs might be subject to withholdings for FICA and federal and/or […]

Teach Your Children Well Part 2: Financial Education for Younger Children

Eric Simonson / March 13, 2011
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Take it to the bank Piggy banks are a great way to start teaching children to save money, but opening a savings account in a “real” bank introduces them to the concepts of earning interest and the power of compounding. While children might want to spend all their allowance now, encourage them (especially older children) […]

Teach Your Children Well Part 1: Basic Financial Education

Eric Simonson / March 10, 2011
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Even before your children can count, they already know something about money: it’s what you have to give the ice cream man to get a cone, or put in the slot to ride the rocket ship at the grocery store. So, as soon as your children begin to handle money, start teaching them how to […]

Teach your Children Well: A Three-Part Series on Financial Education

Maggie Green / March 10, 2011
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A large piece of estate planning involves deciding how to transfer assets to children and descendants. We ask (1) At what age will your children be responsible; (2) Do you want them to inherit large sums of money at age 21; and (3) Will they be mature enough at age 30? Often times, the answers […]