The idea of passing on a treasured family cabin to future generations can be very important for many families. Some families have been fortunate enough to have property that they have used for recreation, family gatherings and getaways for years in the Brainerd Lakes Area. The challenge for many families can be when and how to pass that property on…
Times are a changing! We have all been working so hard to adapt and adjust. Our “normal” everyday activities and routines look so different these days. We all tackle these changes in very different ways. Maybe it is calling a friend to see how they are surviving children at home, all day every day or buying groceries for a neighbor.…
If you read our law firm’s articles on a regular basis, you likely have gained a basic understanding of estate planning and the documents that make up an estate plan. During this unprecedented time, we also hope that we have conveyed the message that now more than ever it’s important to complete your estate plan. In this article and in…
Many people are nervous right now and want to get “their affairs in order”. Not a bad idea. The problem, however, is that many rush to judgment and tend to do a quick fix rather than doing it the right way. The intent of this article is to simply list some common mistakes… Many have a will but don’t want…
It’s sad and unfortunate that we feel that we have to write this article, but it’s important to let you know that criminals are quickly developing scams and fraud schemes to take advantage of the COVID-19 crisis. First, find reliable sources of information and when in doubt, stop and verify. The Minnesota Attorney General, the Better Business Bureau of Minnesota…
The worldwide outbreak of COVID-19 can’t be ignored or denied. It’s safe to say that most of us did not expect an outbreak to develop so quickly or the dramatic changes a pandemic brings to our communities, workplaces, and lives. As we stay home, stay away from others, and cope as best we can with this health and economic crisis,…
Trusts are an important tool in estate planning and may be created for a variety of reasons, which can include both tax and non-tax reasons. Generally a trust based estate plan, will contain a trust (or two if a couple is married and has an estate at or over the Minnesota or Federal estate tax exemption limit), pour over will,…
Death is never at the top of our list of things to think about. Sometimes ignorance is bliss. However, when we don’t take the time to address what will happen to our estate after we die, you can get some very unintended consequences. Let me give you an example. Bob and Sue met each other after their spouses passed away…
At the end of 2019, Congress passed the SECURE Act, and the President signed it in to law on December 20th. Most provisions of the SECURE Act go into effect as of January 1, 2020 but some in 2021 or later. Generally, the intent of the SECURE Act is to make saving for retirement easier for Americans. The full name…
My attempt at a little humor on a less than humorous topic. I think when most people hear about a health care directive they are thinking about forms that direct the doctors or emergency medical responders on whether or not they want to be resuscitated or intubated. Those instructions however are covered in a document that is different than your…