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Minneapolis Estate Planning and Probate Lawyer Blog

Monday, September 17, 2018

Updating Your Estate Plans After a Divorce

If you are currently going through a divorce, or have recently gone through a divorce, you are likely focused on important topics like child custody, division of assets, and alimony. However, you should not neglect another important topic: your estate. Many individuals who go through a divorce dread adding another task to their to-do list, however it is critically important you take the time to update your estate plans if you and your spouse are separating.


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Thursday, August 9, 2018

Transferring Real Estate After Death: What You Need to Know

Ensuring that your loved ones are cared for after you die is important. If your estate contains real estate, that property will likely be seen by your surviving loved ones as extremely valuable, so it is important to understand your options for distributing it through your will after you die to reduce the potential for conflict and ensure your wishes are honored.

What Are the Different Types of Titles, and How Are They Transferred?

First, you need to know what kind of title to the property you have. This can often be accomplished by reading through the deed which transferred the real estate to you. The deed will contain language describing how you own the property, which determines how it can be transferred.


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Tuesday, July 10, 2018

Pet Trusts: Caring for Your Pet After You Pass

We love our pets as much as we love our family. Trusts can be set up to take care of our families after we die, but what about our pets? Until 2016, Minnesota had no laws allowing for this sort of posthumous care.


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Friday, June 8, 2018

Maximizing Your Retirement Accounts for Your Beneficiaries

Q: How much of my retirement accounts will my heirs get to keep when I die?

If you have a retirement account such as a 401(k) or an IRA, and you have designated a beneficiary for the account without consulting a skilled Minnesota estate planning attorney, your intended beneficiaries may end up inheriting an income tax burden…and significantly less of the total account proceeds than you think.

 


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Thursday, May 10, 2018

Digital Property and Minnesota Estate Planning


Q: What happens to my online assets upon my death?

The cyberworld we live in requires unique estate planning.

Truth be told, many of us have difficulty being separated our cell phones and tablets for minutes – – much less an eternity. But have you ever considered what would happen to all of your online accounts after you’re gone? Just like your other more tangible property that you plan to distribute after you die, you have Read more . . .


Wednesday, April 11, 2018

Dying in Your Teens

Q: Does a teenager need an estate plan?

Understandably, people don't like to think about their own death and they certainly don’t want to think of their child dying. Consequently, they may not see a Minnesota estate planning lawyer for the first time until they reach a milestone like a marriage or the birth of a child.


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Wednesday, March 14, 2018

What Are Federal and Minnesota Estate Taxes?


Estate taxes are essentially a tax on the transfer of your assets to others after you pass away. Anything that is left in your estate when you pass will be taxed. However, estate taxes only “kick in” once you pass a certain threshold because assets below that amount are exempt entirely. 
There is a federal estate tax and some states, like Minnesota, impose their own state estate tax as well. This tax applies to property owned in Minnesota, regardless of whether you are considered a resident.
Read more . . .


Monday, February 5, 2018

When Heirs Cry: The Impact of Prince Dying Without a Will


Q: Do I need a will?

Minnesota's unique estate law headline case of recent years --if not of all time --involves the administration of the estate of the late artist, Prince.

For many, Prince was a living legend in the music industry. However, after his untimely death in 2016 from an accidental overdose of painkillers, he became the poster child for why you need


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Thursday, February 1, 2018

Minnesota Guardianship - What Is a Court Visitor?


A Minnesota Guardianship Lawyer Explains the Role of a Court Visitor in Guardianship Proceedings

In order to assist with understanding how this may work, let’s use a hypothetical.

Your aging father has been diagnosed with Alzheimer’s. He doesn’t have a Health Care Directive and he no longer has the capacity to sign one. You come to my office to work with an experienced Minnesota guardianship lawyer and we file the petition to have the court appoint you as his guardian. After we file the petition, the court will appoint a Court Visitor.
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Thursday, January 18, 2018

Marriage is NOT ENOUGH. LGBT Rights Still Threatened Under the Current Administration

When the US Supreme Court ruled that gay marriage should be recognized across the US, the LGBT community breathed a sigh of relief. The community thought they could relax and this would take off the pressure of fighting for so many rights.

Many clients told me they no longer felt the need to adopt a child in situation where one wife was the birth parent. They felt that marriage would protect the rights of the non-bio parent. They are wrong!


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Sunday, December 10, 2017

Why DIY Estate Planning is Usually a Bad Idea


Q: Should I hire an attorney to do my estate plan?

With a law practice named Unique Estate Planning, what do you think the answer will be?

Seriously though, trying to do your own Minnesota estate planning is just asking for trouble.
Read more . . .


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From within Hennepin County Unique Estate Law represents clients throughout Minnesota, including Minneapolis, Edina, Bloomington, St. Louis Park, Minnetonka, Plymouth, Wayzata, Maple Grove, St. Paul, and Brooklyn Park.


9.3Chris Tymchuck

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