Leaving a Timeshare to a Loved One

Minnesota Estate Planning Lawyer Discusses the Issues with Leaving a Timeshare to a Beneficiary  Many of us have been lucky enough to acquire timeshares for the purposes of vacationing on our time off.  Some of us would like to leave these assets to our loved ones.  If you have a time share, you might be…

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What is a Successor Trustee

A Minneapolis Estate Planning Lawyer Defines a Successor Trustee and Explains Why You Should Have One You did everything right. You sat down with a lawyer, paid her to draft your estate plan, created a living trust and named each other as trustees. But, the unthinkable happened and your spouse died before you did. You…

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Can You Remove A Trustee?

A Minneapolis Estate Planning and Probate Attorney Talks About the Process of Removing of a Trustee In creating a trust, the trustmaker must name a trustee who has the legal obligation to administer it in accordance with the trustmaker’s wishes and intentions. In some cases, after the passing of the trustmaker, loved ones or beneficiaries…

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Testamentary vs Revocable Living Trust

The world of estate planning can be complex. If you have just started your research or are in the process of setting up your estate plan, you’ve likely encountered discussions of wills and trusts. While most people have a very basic understanding of a last will and testament, trusts are often foreign concepts. Two of…

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What is a Pooled Income Trust and Do I Need One?

A Pooled Income Trust is a special type of trust that allows individuals of any age (typically over 65) to become financially eligible for public assistance benefits (such as Medicaid home care and Supplemental Security Income), while preserving their monthly income in trust for living expenses and supplemental needs. All income received by the beneficiary…

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How Do You Put Assets Into Your Trust?

A Minneapolis Estate Planning Attorney Answers the question: What Does the Term “Funding the Trust” Mean?   If you are about to begin the estate planning process, you have likely heard the term “funding the trust” thrown around a great deal. What does this mean? And what will happen if you fail to fund the…

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