While many people in Minnesota may be fans of Stan Lee's comic book art and creative work, they may not want to emulate his estate planning choices. The 95-year-old man passed away in November 2018, survived by his 68-year-old daughter. In 2017, his wife of 70 years...
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Estate Planning And Probate
Following up to implement an estate plan
Many people in Minnesota work hard to draw up their estate plans. They think long about the way they want to divide their assets and work with lawyers to draft, complete and execute the necessary documents. Still, even after signing off on wills, trusts and powers of...
Estate planning for young Minnesota residents
Estate planning is rarely a high priority for young people in Minnesota and around the country, and studies reveal that three in four American millennials have not drafted a last will and testament. This can be a delicate subject even for those who expect to live for...
Parents can plan for their children’s future
There are a number of ways that Minnesota parents can use estate planning documents to make sure their children are cared for in the future. In fact, estate planning is perhaps most critical for people who are also parents. By creating key documents like wills, trusts...
Avoiding potential problems with estate plan surrogates
There is a potential "time bomb" hidden in some estate plans in Minnesota. Specifically, a possible source of unexpected problems is the individual named to act on behalf of the person making the estate plan. Actions taken by one or more parties named to oversee an...
Changing interest rates can affect estate planning
Trusts are an important part of estate and financial planning for many people in Minnesota. The current interest rates can play a major role in determining which type of trust will be the most beneficial to heirs. After years of lower rates, interest rates are rising,...
Understanding pour-over wills
There are many reasons why a Minnesota resident with a trust-based estate plan may fail to place their assets into the trust during their lifetime. However, if there is no other will that dictates what should happen to the assets, the inclusion of a pour-over will can...
Tips for choosing the right trustee
Trusts may be an excellent tool for some people in Minnesota who are creating an estate plan. They are designed to provide a number of benefits including the ability to pass assets such as IRAs on to beneficiaries in a way that will defer or avoid taxes while growing...
Prince’s heirs still awaiting money from his estate
In Minnesota, an executor and attorneys may have collected some money from the estate of the late musician Prince, but none of his heirs have received anything yet. Prince did not leave a will, and after two years, the probate process is still ongoing. Probate is the...
An estate plan is the only way to ensure end of life wishes
Most people understand the value of a will and intend to create one. The question is when. Wills and other estate plans tend to fall into the "I'll do it later" category as daily life takes priority. Most research finds that only half of Americans have an existing...