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When establishing a trust, one of the key decisions someone must make is choosing a trustee. This often leads to an important question: can a trustee also be a beneficiary of the same trust? The answer is yes, but it is important to carefully consider the...
When you set up your estate plan, you should also include a legal, financial and healthcare power of attorney. This can be one person, or you can choose separate individuals for these roles. Because these individuals could gain control over your finances, legal...
After you die, your estate will likely undergo the probate process. This legal process involves formally recognizing the existence of a will and appointing the executor to administer the estate. Once the probate process concludes, according to the American Bar...
A personal representative, sometimes called an executor, is someone that the decedent chose, or who the court appointed, to settle his or her estate based on the directions in his or her will. This person is one of several fiduciaries that could be associated with the...
Even when a Minnesota resident puts in a lot of thought, time and careful planning into their estate plan, something can still go wrong. Family members sometimes do not agree on certain aspects of a trust. There can be sibling rivalries, second marriages, and problems...
No matter how well planned a Minnesota resident's estate plan is, there can still be disputes among family members. There are many Minnesota residents who have created a trust. But, there are times when these trusts result in a dispute.A trust dispute is different...
When a person in Minnesota sets up a trust, they will name a certain individual as the trustee. This is an important role that comes with significant responsibilities. Most trustees want to properly fulfill their role as trustee, including the fiduciary duty they have...
Many people in Minnesota are growing older. The baby boomer generation has amassed wealth that has never been seen before in the United States. Those born in the 20s and 30s will pass $12 trillion to the next generation, while baby boomers are estimated to leave more...
When a loved one passes away, they often leave an estate behind for their loved ones to figure out. These estates can cause a family stress and disagreements. Those who are put in charge of an estate may not be doing their duty as far as trust administration and there...
Financial exploitation of the elderly is a problem in Minnesota and across the country. There are many ways that an elderly person can be exploited, but financial abuse can have serious implications on a person's financial well-being. There are certain risk factors a...
