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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...
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...
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...
In a perfect world, your children would turn out just how you wanted, and you would be able to quietly pass on with the assurance that they are doing what you preferred with your assets and money. Unfortunately, in real life, this is not always the case, and there are...
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...
Because the testator, or the person who authors a will, is no longer around to voice his or her thoughts or explain his or her decisions regarding who is given what, situations may arise that lead you to question a will and its contents. You cannot, however, contest a...
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...
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...
If you have a parent or loved one who has passed away, the stress of the situation may minimize some of the legal proceedings that will take place. One of these, however, is the review and execution of the will. You may find that it has been unexpectedly altered prior...
As many of our readers know, previous posts here have been following the probate litigation surrounding the death of the rock musician Prince, a man from the Twin Cities area whose estate is now being litigated in the Minnesota state courts.The latest development in...