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Estate Planning

Friday, May 24, 2019

Trust and Estate Mediations


A mediation is when a neutral third party, the “mediator,” aids disputing parties in reaching a resolution to the conflict through a structured, interactive process. There are many types of conflicts involving a trust or estate that benefit from being resolved through mediation. It does not matter whether or not the disagreement has risen to the level where the parties are already entrenched in litigation. Mediation may still be an option. It is a valuable option when you consider the time and money the parties will save with mediation as they avoid more time in court.
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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.
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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.
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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.
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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.
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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.


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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.
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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.


Read more . . .


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.

 


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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5901 Cedar Lake Rd., Minneapolis, MN 55416
| Phone: 952-358-7400

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9.3Chris Tymchuck