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Friday, April 19, 2019

Providing for a Special Needs Child in Your Estate


Every parent worries about what will happen to their children after they die. This is particularly true for parents of special needs children, for whom there is unfortunately not always assurance of financial security.

The good news is that parents of special needs children have an estate planning option at their disposal to provide some security for their child—and that parents do not have to dip into their retirement savings in order to take advantage of this option! Even better, this option allows parents to not risk alienating any other non-special needs children they have, as it avoids the thorny estate planning issue of naming a child as a preferred beneficiary. 

What is this amazing option? It’s a

Read more . . .


Monday, March 11, 2019

Make Estate Planning Your New Year’s Resolution!


Many of us made New Year’s resolutions at the start of 2019. Many times, our resolutions involve improving our financial health, taking up a new hobby, or finally doing something we’ve put off for a long time. Why not combine all three and make your 2019 New Year’s resolution planning your estate?

At Unique Estate Law, we understand that Read more . . .


Sunday, February 10, 2019

Common Mistakes People Make When Estate Planning


At Unique Estate Law, we know that estate planning can seem complicated. If you try to do it on your own, without the benefit of an estate planning attorney, it usually is! However, even if you consult with an experienced estate planning attorney, there are some mistakes we, unfortunately, see people make when they begin or reengage in the estate planning process.

Taxes


One of the most common issues we see with estate planning clients is that estates do not leave enough revenue to pay estate taxes after the estate holder passes. This often means that the beneficiaries of the estate plan are forced to sell property like homes, boats, cars and other items simply to pay off their estate tax debt. An experienced estate planning attorney will help you carefully plan your estate so as to ensure that you avoid entangling your beneficiaries in these kinds of issues.
Read more . . .


Friday, January 25, 2019

Selecting a Trustee: What Are a Trustee’s Duties and Responsibilities?


A trust allows you to provide for others, and all trusts are managed by an individual known as a trustee.  It is important to select an appropriate and responsible trustee to ensure your intent is carried out and that your loved ones and other beneficiaries are cared for.
Read more . . .


Friday, December 21, 2018

When Should You Start Thinking About Estate Planning?


One of the most common questions we get at Unique Estate Law is when you should start thinking about estate planning. While earlier is always better, we know that everyone’s life circumstances are a little bit different, and your estate planning needs are unique from someone else’s. Having said that, there are a few indicators which can be signs that it is time for you to start the estate planning process.
Read more . . .


Monday, November 5, 2018

What Do You Need to Know About Probate?

If you have ever considered or participated in estate planning, the term “probate” has likely come up. What is probate and why is it important? Is probate helpful or harmful to your estate planning? Read on to learn more.

Simply put, probate is the legal process by which a person’s property is transferred to recipients after they die. The court supervises this process to ensure an estate is appropriately and completely collected, managed, and distributed. Not all of a deceased person’s assets are automatically part of this process, however, as the deceased may have set up certain accounts or legal structures to prevent their property from being transferred in this way.

The probate process occurs whether or not the deceased has created a will. If a person dies and has a valid will, probate is required to ensure the provisions of that will are implemented. This is because courts want to make sure that the terms of the will are effected as the decedent intended, to the extent that is possible. If the decedent had no will, a court is needed to ensure the decedent’s assets are distribute according to the state’s intestacy laws—which is a fancy way of describing the laws which describes who has priority and how much they can inherit from a decedent. In these situations, courts will oversee the process to make sure that beneficiaries are given what the state law says they are entitled to receive.


Read more . . .


Tuesday, October 23, 2018

Do Your Adoption NOW!


A Minneapolis Estate Planning Lawyer Stresses the Need for LGBT Couples to Complete Their Adoptions NOW!!! 

I'm sure you're now aware of the current Federal Administration's continued hostility toward the LGBT community. It's more important than ever that you take steps NOW to protect yourselves in any way you can! If you and your same-sex spouse or partner have a child together, you need to do a step-parent (or second-parent) adoption as soon as possible. The process can take several months so starting the process sooner is a good idea.

Should I adopt my child even if my name is on the birth certificate?

The landmark Supreme Court case of Obergefell v. Hodge recognized for the first time same-sex marriage at the state and federal level.
Read more . . .


Friday, October 12, 2018

Is a Pour-Over Will Right for You?

Estate planning can be complicated. One of the biggest reasons it can be so difficult is that there is so much at stake: your legacy, your assets, and the well-being of your heirs. Another reason is that the terminology is often very confusing. If you are not an estate planning attorney, you likely do not know what many words and concepts associated with estate planning mean. One common example of this is something called a “pour-over” will. This is an incredibly common and important estate planning tool, but one most people do not know anything about. Read on to learn more about whether a pour-over will could be right for you.

What is a Pour-Over Will?

You likely know that a will is a legal instrument you use to specify who gets what pieces of your estate after you pass away. A pour-over will is a kind of will that ensures that any assets you have which are not explicitly accounted for in your will are placed into a trust at the time of your death. Think of it as one final protective sweep of your assets.


Read more . . .


Saturday, October 6, 2018

What Do You Need to Know About Leaving Your Estate to Charity?


From tax perks to ensuring that a cause you support is furthered, there are many benefits to leaving your Minnesota estate to charity.  However, there are also some important considerations you should take into account before doing so.

Why Should You Leave Your Estate to Charity?

Generally, there are two reasons people choose to leave their estate to charity: altruism and tax benefits.  Giving your estate to charity ensures that your legacy will be furthering a cause you believe in.  The financially practical argument for leaving your estate to charity is that in doing so you can save significantly on income and estate taxes.
Read more . . .


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.


Read more . . .


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.


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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| Phone: 952-358-7400

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