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Role of the Successor Trustee
When creating a trust, it is common practice that the person doing the estate planning will name themselves as trustee and will appoint a successor trustee to handle matters once they pass on. If you...
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Stepparent Adoptions in Minnesota
Stepparent Adoptions Stepparent adoption is the most common form of adoption in the United States. Once the adoption is finalized, the stepparent assumes full financial and legal responsibility for...
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What is a Successor Trustee
A Minneapolis Estate Planning Lawyer Defines a Successor Trustee and Explains Why You Should Have OneYou did everything right. You sat down with a lawyer, paid her to draft your estate plan, created a...
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Do I Really Need Advance Directives for Health Care?
Many people are confused by advance directives. They are unsure what type of directives are out there, and whether they even need directives at all, especially if they are young. There are several...
View ArticleA Discussion About Wills, Part 1: You Really Do Need a Will
A Minneapolis Estate Planning Lawyer Discusses Why You Need a WillBelieve it or not, my busiest time of year is around the holidays and New Year's. I can only guess that it has to do with family...
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A Discussion About Wills, Part 2: Is a copy of a will sufficient?
A Minneapolis Probate Lawyer Discusses the Issue of Using a Will Copy in a Probate Many people keep their important documents at home where they are easily accessible. It’s not at all uncommon to find...
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Leaving a Timeshare to a Loved One
Many of us have been lucky enough to acquire timeshares for the purposes of vacationing on our time off. Some of us would like to leave these assets to our loved ones. If you have a time share, you...
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When to Involve Adult Children in the Estate Planning Process
Individuals who are beginning the estate planning process may assume it's best to have their adult child(ren) join them in the initial meeting with an estate planning attorney, but this may cause more...
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Refusing a Bequest
Most people develop an estate plan as a way to transfer wealth, property and their legacies on to loved ones upon their passing. This transfer, however, isn’t always as seamless as one may assume,...
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What Happens If Your Heir Doesn't Want What You Are Giving?
Minneapolis Probate Lawyer What To Do if You Don't Want What Is Left To You There was a time, in the not too distant past, when inheriting something was a benefit and nothing but good news. But,...
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A Discussion of Wills, Part 3: Beware of “Simple” Estate Plans
Minneapolis Estate Planning and Probate Lawyer Explains the Dangers of Getting a "Simple Will"“I just need a simple will.” It’s a phrase I hear practically every other day. From the client’s...
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Changing Uses for Bypass Trusts
Minneapolis Estate Planning Lawyer Explains the Reasons Why You May Want a Bypass TrustEvery year, each individual who dies in the U.S. can leave a certain amount of money to his or her heirs before...
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First Party and Third Party Pooled Income Trusts, Explained
Generally, a "pooled trust" holds assets for people that have a disability, and/or elderly individuals. The trust is established and run by a not-for-profit organization, which will establish separate...
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For How Long Should a Business Keep Tax Records?
Minnesota Estate Planning Lawyer Talks About the Issues Related to Keeping Tax RecordsThere are many reasons for retaining tax records. They can be a useful guide for business planning, for tracking...
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Should You Just Add Your Kid to Your Bank Account?
Minnesota Probate Lawyer Discusses the Issues with Simply Adding A Child to Your Bank Account If I had a dime...Why don't I just add my adult child to my bank account? She helps me with all my bills...
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Executors Fees
An executor's fee is the amount charged by the person who has been appointed as the executor of the probate estate for handling all of the necessary steps in the probate administration. Therefore, if...
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Choosing a Guardian for Minor Children
If you are a parent and you are considering estate planning, one of the most difficult decisions you will have to make is choosing a guardian for your minor children. It is not easy to think of...
View ArticleThe Expenses of Probate, PART I: WHO PAYS THE FEES FOR A PROBATE WHEN SOMEONE...
Minnesota Probate Lawyer Explains Who Is Responsible for Paying Probate Fees Recently, a client came to me to assist her with handling her mother’s estate. Her mother was sick for many years and had...
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Is There Anyway a Disinherited Child Could Receive an Inheritance From an...
If your estate plan and related documents are properly and carefully drafted, it is highly unlikely that the court will disregard your wishes and award the excluded child an inheritance. As unlikely...
View ArticleTHE EXPENSES OF PROBATE, PART II: WHAT ARE THE FEES FOR PROBATE
A Minneapolis Probate Attorney Explains the Fees Associated with Handling a Probate In Part I of this series, I explained who is responsible for paying the fees to start a probate. This post discusses...
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