Estate executors have an important job to do for all people who have an interest in the estate. In Minnesota, there are many duties they are delegated to take on. When these duties are not completed, it can lead to probate complications among heirs &...
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Heirs & Beneficiaries
Trustee compensation can be tricky
When a trust is established for Minnesota residents, there is often a trustee that is named. The time when a trustee is needed is when the decedent has passed away and the trustee needs to take care of the trust. This can be an emotional time and can cause many family...
What to do if your spouse leaves you out of the will
It can be a shock to learn that your spouse did not include in his or her will. Finding out that you have been left nothing can be quite devastating, especially if your spouse was the main wage earner. If you find yourself in this situation in Minnesota, is there...
What are omitted children in Minnesota wills?
Most Minnesota residents understand that when they die, their property is passed to individuals related to them who are called heirs. These individuals can take the property of the deceased individual either based on a statute the state has set up to govern such...
Do you have a loved one who may be suffering from exploitation?
When a Minnesota resident has a relative that is incapacitated in some way, they are often good at taking care of them. These vulnerable adults depend on others for almost every need they have. It is important that they are well protected and receive good care. When...
IRA trusts protect heirs
Sometimes, limits should be placed on property going to heirs and beneficiaries. Providing an heir with unlimited access to an inherited individual retirement account may be unwise if the heir has debt or money management problems. Naming an IRA trust as a beneficiary...
Mistakes can burden estate planning in Minnesota
Poor estate planning can cause financial consequences and potential litigation for heirs and beneficiaries in Minnesota. Some typical mistakes have complicated inheritance.For example, the failure to place a see-through provision in a trust can impose high tax...
Heirs unprepared for wealth transfer
The composition of families of the baby boomer generation have been less traditional, due to more couples entering into second marriages or living together without getting married. A recent report from BMO Wealth Management found this could greatly complicate...
Fight over estate may be at an end
Court battles over a frozen food magnate's estate that spanned from Minnesota to Florida over a period of 5 years and cost millions of dollars may be at an end. Heirs and beneficiaries fighting over Jeno and Lois Paulucci's estate may have reached a potential...
What does a trustee’s duty of impartiality entail?
Among other obligations, a Minnesota trustee has a legal duty to deal impartially with each and every beneficiary of a Minnesota trust, meaning that all people or organizations that stand to benefit financially from the trust have to be treated equitably. While this...