Four Things to Consider About Do-it-Yourself Estate Planning Software

DIY problems; leaking pipe

As a price conscious homeowner, I am all for do-it-yourself projects to save a few dollars here and there. I often bite off more than I can chew, like the time I thought I could handle rerouting the plumbing in a bathroom. Predictably, this resulted in a flooded bathroom, water damage, and an emergency phone […]

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Minnesota Estate Tax Legislative Update – May 2017

Minnesota State Capitol and Quadriga

Minnesota Estate Tax Governor Dayton has signed the 2017 tax bill which will increase the Minnesota estate tax exemption from its current level of $1.8 million to $2.1 million for individuals dying in 2017. The legislation also adjusts the estate tax exemption in subsequent years; increasing the exemption by $300,000 per year until 2020 at […]

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How to protect your children’s inheritance from divorce, creditors, and lawsuits

Family in front of home

As divorce rates rise and society becomes increasingly litigious, asset protection has become an increasingly important aspect of estate planning. While most people understand the more common estate planning goals such as probate avoidance and limiting estate tax exposure, did you know that a carefully tailored estate plan can also provide asset protection for your […]

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Five tips for updating your estate plan during or after divorce

Couple back to back

Divorce is a difficult process, no matter how amicable the split. Between property division, potential custody disputes, and escalating legal bills, no one wants to think about more legal hoops to jump through. While updating your estate plan during a divorce may be the last thing on your mind, a failure to do so could […]

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Do I Really Need an Estate Plan? Three Questions to Ask Yourself

Contrary to popular belief, not only Warren Buffet and Mark Zuckerberg require estate plans. If you own anything when you die, you have an estate. Your estate includes personal property, real estate, retirement accounts, life insurance, and business interests. Putting a basic estate plan in place can help ease the administrative burden of your death on […]

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Thoughtful Estate Planning for Children with Substance Abuse Problems

Do you have a child who is addicted to drugs or alcohol? Do you struggle with the thought of what will happen to your child after you pass away? The last thing you want to do is to provide your drug addicted child with a blank check inheritance. This could lead to disastrous results, including […]

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Estate Planning in a Digital World

In an increasingly digital age, more and more of our most valuable assets are taking on digital forms. While most people are familiar with basic wills and trusts as management tools for bequests of tangible personal property, our digital assets are often overlooked in the context estate planning. Digital assets can account for a significant […]

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So You Want Your Child to Have the Family Home…

It seems to be a common theme. Adult child lives with parent.  Maybe this is for financial reasons, or perhaps the child is acting as caretaker.  Parent wants child to have the home at the time of the parent’s death.  If the proper planning isn’t done, however, it’s very unlikely that the transition of the […]

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Yours…Mine…and Ours – Tips on Successful Estate Planning with Blended Families

If you’re remarried, you may face some interesting planning considerations when it comes to completing your estate plan. The planning for blended families can be quite different from the planning you did in your first marriage as there is now yours, mine and ours. The key to successful planning is open communication and a full […]

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Hey Fido: Come, Sit and Stay for the News…You’re a Trust Beneficiary!

Many of us consider our pets to be part of our family. This means we worry about who will care for them in the event of our deaths, but more importantly, how do we make sure there’s enough money set aside for this purpose? Minnesota, last but not least, has finally joined the ranks of […]

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