Trusts

Trusts are legal entities created to preserve, invest and distribute resources. There are different kinds of trusts that people can create to leave a specific legacy and protect their loved ones’ interests. A spendthrift trust is one of the more common kinds of trusts...

Maybe you have a spouse who no longer has access to some of your property because they have previously tried to use shared assets to buy illegal drugs. Perhaps you have had to have some very uncomfortable conversations with your middle child because of their alcohol...

You may have heard of dynasty trusts, which are sometimes called bloodline trusts. The purpose of these is to help ensure that family wealth is kept within the “bloodline” as it’s passed from one generation to the next while minimizing estate, transfer and gift taxes...

If you have put off drafting your estate plan due to some complex situations involving your future beneficiaries and heirs, it is not too late to take control of the situation now. The problem might be that some potential beneficiaries may not be able to successfully...

A trust is an estate planning instrument that allows you to nominate a third party, legally known as a trustee, to hold assets on behalf of the designated beneficiaries. This estate planning tool specifies exactly when and how assets are to be passed on to the...

Choosing the right trustee can be as important as choosing to create a trust in the first place. Without the right person administering the trust, all of your careful planning could go to waste.  Some people are quick to name a specific individual of the person they...

There are a number of reasons why individuals fund trusts. They often do so to shield assets from creditors if they were to face a lawsuit. A testator may also do so to preserve their eligibility for Medicaid and other government benefits. Some individuals may also...

If you’re like many Minnesotans, you own a lakeside vacation home or mountain cabin here — or maybe in Wisconsin or up in Ontario. Or, perhaps you have a place in Florida or Arizona where you escape the brutal cold for a few weeks or longer every winter. If this home...

Maybe one reason you’ve been postponing your estate planning is that you want to leave an equal share of your assets to all of your adult children, but you’re concerned about what one (or perhaps more) of them will do if they inherit a large amount of money. You don’t...

You love your child very much, but the reality of their future is that they may not be able to take care of themselves alone. For this kind of situation, a special needs trust can be invaluable. With a special needs trust, you can help protect your child’s...