There was a time, in the not-too-distant past, when inheriting something was a benefit and nothing but good news. But, with the crash of ’07 and the subsequent plummeting of real estate values, that’s no longer true. Probate lawyers such as myself are increasingly answering the question: What if I don’t want it? For instance,…
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Understanding Generation-Skipping Transfer Tax in Estate Planning
Ever wondered what happens when wealth skips a generation in your family? Picture inheriting assets from your grandparents, only to face unexpected tax hurdles later. This scenario reflects the essence of the Generation-Skipping Transfer Tax, a concept often overlooked in estate planning discussions. This blog will look at how wealth transfers across generations can possibly…
Continue reading…Don’t Let Your Ex Get Your Money. A Recent Court Decision May Allow Your Ex to Get Your Money!
A Minnesota Estate Planning Lawyer Explains a Recent Court Decision Affecting the Life Insurance Proceeds for Divorced Couple A recent decision by the U.S. Court of Appeals for the Eighth Circuit should cause anyone who has been divorced scrambling to ensure his or her beneficiaries are property listed on life insurance or retirement accounts. Namely,…
Continue reading…19 Smart Ways to Protect Your Assets
Minneapolis Estate Planning and Probate Lawyer Explains How to Protect Your Assets Smart Way #1: Make a promise to yourself — now. Make a personal commitment to yourself and your family that you will do everything possible to protect your family and your assets. Smart Way #2: Identify your personal and financial goals. If you…
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8 Reasons Young People Should Write a Last Will and Testament
A Minneapolis Estate Planning Attorney Discusses the Reason Young People Should Think About Their Estate Plans Imagine if writing a last will and testament were a pre-requisite to graduating from high school. The graduate walks across the stage, hands the completed will to the principal, and gets the diploma in return. It might sound…
Continue reading…Estate Planning Lessons, Part 2: Marriage Is Not Enough – You Must Get a Financial Power of Attorney Now
This continues my series on lessons I learned in handling the estates of my parents who both passed away last year. This post will discuss reasons why you should plan things now – do not wait! I am an estate planning attorney with the knowledge and experience to handle complex issues but found myself running…
Continue reading…Should You Borrow From Your Retirement Account?
Borrowing from your retirement accounts: Issues to consider So you have credit card debt, overdue mortgage payments, or suddenly need to buy a new car. We’ve all been there. You need money now, and your retirement accounts continue to climb. Fortunately, many employers allow you to take out loans on these accounts, but should you…
Continue reading…Unique Estate Law: 2012 Wrap Up for a Nontraditional Law Firm
An Estate Planning Attorney Provides a Personal Review of 2012 The state of the firm For Unique Estate Law 2012 was a fantastic year. The firm beat projections and I was able to assist more clients than ever before. I had referrals from a wide range of sources and a constant stream of clients coming…
Continue reading…How To Prepare for a Meeting with an Estate Planning Attorney
Preparing to Meet With an Estate Planning Attorney A thorough and complete estate plan must take into account a significant amount of information about your assets, your family, your property, and your wishes during and after your life. When you make your first appointment with an estate planning attorney, ask the attorney or the paralegal…
Continue reading…Estate Planning for Unmarried Couples
A Minneapolis Estate Planning Attorney Examines the Importance of Estate Planning for Unmarried Couples Estate planning is important for everyone. We simply don’t know when something tragic could happen such as sudden death or an accident that could leave us incapacitated. With proper planning, families who are dealing with the unexpected experience fewer headaches and…
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