952.358.7400
Share

Trusts

Wednesday, March 4, 2020

Coronavirus / COVID 19: Your Family Needs a Plan, Part 1

A Minnesota Estate Planning Attorney Explains that Estate Planning is Always Important: Not Just During Global Scares

You can’t open any news course, or social media platform, without being inundated with news, rumors, pictures or stories about coronavirus. In fact, I’ve had several clients reach out to me to discuss their estate plans given the fear of incapacity or death.

Given the relatively early stages of the coronavirus, it’s difficult to predict the long-term impacts it will have on us.  While I can’t offer much in the way of medical guidance, as an estate and trust attorney, I can discuss the ways in which you can prepare your family for any legal ramifications if someone is sick or worse.

So far, it appears that most of the deaths linked to coronavirus are for people who are over the age of 60.


Read more . . .


Thursday, October 10, 2019

Impact of Court Challenge of Minnesota Trust Taxation


Challenges to Minnesota’s trust taxation have weaved their way through the court system. Those who incurred tax liability on trusts fought the taxation and won. After appeals affirmed lower court decisions, the issue was finally submitted to the U.S. Supreme Court.
Read more . . .


Tuesday, August 13, 2019

Minnesota Trust Taxation


On June 28th, the Supreme Court denied review of a Minnesota case regarding the state’s taxation of trust income. The 2014 case was about Minnesota’s taxation of the income generated by four trusts. While the trustee, William Fielding, paid the tax bill, he filed suit after he was denied a $1 million refund, which represented the difference between taxes owed as a resident trust and taxes owed as a non-resident trust. The creator of the trust, or “grantor,” was a Minnesota resident and so was one of the trust beneficiaries during the tax year at issue.

Additionally, the trusts were created in Minnesota and the trust held investment stock in a Minnesota corporation.


Read more . . .


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.


Read more . . .


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!


Read more . . .


Friday, July 14, 2017

Living Trusts Vs. Wills: Choosing the Right Estate Planning Tool


There many types of estate planning tools and each one offers benefits and drawbacks. Some tools work better to accomplish certain goals than others. In addition, some individuals or families may not need to utilize certain options, while others will need a variety of more complex choices.

Revocable living trusts and wills are similar because they allow you to name beneficiaries for your property. These are both perhaps some of the most widely used estate planning tools, but they accomplish diverse goals.
Read more . . .


Thursday, July 13, 2017

7 Secrets to Drafting a Successful Will.

Writing a Will is something everybody should do.  With a Will, you can name a guardian for your minor children, decide who gets your assets, and appoint someone to sort out your estate.  A properly drafted Will should help maintain family harmony, negate confusion and minimize any time your family has to spend in court.  A Will certainly shouldn’t cause family conflict or confusion or require your family to spend thousands of dollars and hours in court just to determine your wishes.  However, since you won’t be around to witness how your Will actually functions, you should take steps now to ensure that your Will does exactly what you want.  Below are the 7 Secrets of a Successful Will:

Read more . . .


Monday, May 1, 2017

Pet Trusts…Because Fido is Not a Piece of Furniture


Q: How do I provide for my pet’s future care if I die or become disabled first?

Your pet trusts you with its life. She curls up at your feet in the den. He waits at the window-- tail wagging-- eager for your return home.

Have you ever thought about what would happen to your pet if you didn't make it home? Would your pet be protected if death or disability struck you first?

If you consider your pet a member of the family then you should consider a pet trust.


Read more . . .


Tuesday, March 15, 2016

Prepare Your Trustee to Manage Your Trust.

One of the jobs of a Minnesota trust lawyer is to help clients choose the person who will be responsible for a trust that has been set up.  This trustee has several very important jobs, and things will go smoother if he or she is aware of these responsibilities up front.  Here is some good information that should be shared with a trustee in order to administer the trust with as little difficulty as possible when the time comes.

Read more . . .


Sunday, December 27, 2015

Holiday Talks, Part 3: Discussing Your Parents’ Estate Planning Needs

As I discussed in Part I of this series, your parents may feel reluctant to discuss details of their estate plan.  For many personal matters such as finances and health care wishes are to remain private. But, it’s important to have this discussion so long as you are operating with the proper intentions.

Read more . . .


Sunday, December 20, 2015

Holiday Talks, Part 2: Discussing Your Estate Plans With Your Adult Children

It is a common occurrence to have clients come to me after a parent died and say “I didn’t know XXX (fill in the blank) about my Mom or Dad.” Many parents feel reluctant to discuss financial and estate matters with their children. However, any good estate planning attorney would encourage (even urge) you to have this discussion. 

Read more . . .


Archived Posts

2020
2019
2018
2017
2016
2015
December
November
October
August
July
June
May
April
March
February
January
2014
2013
December
November
October
September
August
June
May
April
March
February
January
2012
December
November
October
September
August
July
June
May
April
March
February
January
2011
December
November
October
September
August
July
June
May
April
March
February
January
2010

← Newer12 3 4 5 6 Older →


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

© 2020 Unique Estate Law | Disclaimer
5901 Cedar Lake Rd., Minneapolis, MN 55416
| Phone: 952-358-7400

Practice Areas | Fees | COVID-19

TwitterLinked-In PersonalLinked-In CompanyBlog RSS

Attorney Website Design by
Amicus Creative


9.3Chris Tymchuck