Most people creating an estate plan hope to leave their children, grandchildren and other family members most of their property. It is also a common practice for people to leave their pets or companion animals to family members as well. While it is possible to treat...
Here’s why do it yourself (DIY) estate planning is a bad idea
There are many reasons why people continually put estate planning on the backburner. Some people do so because they’re afraid it will cost too much. Others are concerned about making important decisions that could impact their loved ones. There are also people who...
Why use an incentive trust?
Trusts give you a lot of estate planning options if you’re particular about how you pass your money on to the next generation. A will allows you to simply leave assets to people, but maybe you want to have a say in how you leave those assets or how your heirs use...
Planning to pass your business on to the next generation: Use these tips
As a family business owner, perhaps the most important part of your estate planning is doing business succession planning. You need to know how to leave the company to your heirs. Now, perhaps you don’t want to leave the company to your children, or maybe they don’t...
Creating a succession plan well in advance is good business
You’ve spent most of your time on the two great endeavors of your life, both raising your family and growing your business. They will each likely have some hardships when you’re no longer around to take care of them, but you can ease the transition by planning for the...
Can I avoid probate with a living trust?
Estate planning can be a confusing process. But as tedious as it may seem, having a poorly made will can lead to even bigger headaches for your loved ones. If you are thinking about your estate plans, you may be wondering how to best protect and transfer your assets....
Effective Methods Of Reducing Estate Tax
As someone who lives in Minnesota and has a valuable estate, you may have concerns about how much of it your beneficiaries will ultimately lose to estate taxes. While the threshold for having to pay estate taxes changes from one year to the next, if your estate has a...
Reasons To Start Estate Planning Now
Unfortunately, many young people do not see the point in creating estate plans in their 20s and 30s. Once you marry or have a child, you need to start planning for the future, and it is never too soon to develop an estate plan. Many people do not start thinking...
Are You Planning Your Estate The Right Way?
Most people know they need an estate plan in place for when they eventually pass away. This can be easier said than done. A lot of people have no idea where to start with their estate plans, which is why it is crucial to set some clear, attainable goals. For starters,...
Talk To Your Family About Your Will
Many Hollywood films have glorified the "reading of the will." In these scenes, loved ones learn what they will receive from the deceased party during a physical meeting with the lawyer. Most of the time, there is some surprising information, such as one person...
