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A trust is just one of many estate planning tools that a Minnesota resident can choose. A recent post on this blog discussed how a trustee in Minnesota has a right to make reasonable investment decisions on behalf of the trust and its ultimate beneficiaries. While...
Most Minnesota attorneys do their work honestly and competently. Unfortunately however, there are some who use their legal knowledge and skill to their own advantage and at their client's expense. In the context of a will or a trust, this often happens when an...
In Minnesota, administrators of family trusts, often called "trustees" have a lot of power. Sometimes, they are in control of millions, or even tens of millions, of dollars in assets. With this power comes a lot of responsibility. Minnesota trustees have an obligation...
The last several posts on this blog have discussed the valuation of stock or other types of interest in a business within the context of probate litigation. Although valuing an interest in a business is simple enough for stocks that are traded on the open market, it...
As the last two posts on this blog have discussed, sometimes the crux of asset disputes following a person's death, or even during his or her life, center around the ownership of a business.Many businesses in Minnesota, including small family businesses and farming...
Last week's post discussed a recent case in which the outcome of a significant probate dispute will depend on who owns one share of stock in a multimillion dollar company. The post raises important questions as to how stock shares and other similar property gets...
Even as far north as Minnesota, people have heard of the professional football team called the "Saints" and may have heard of the professional basketball team called the "Pelicans." These teams have been owned for a long time owned by a Southern billionaire....
Last week's post discussed how the value of an estate may be a hot point of contention in a probate dispute. After all, how property is valued can dramatically affect a person's inheritance, enough that it may be worth the legal costs of pursuing a lawsuit.However,...
While much of probate litigation involves issues like whether a will is valid or whether an executor has overstepped his or her authority, another important area of probate litigation consists of those cases that involve the value of an estate.Many times, when...
Although other states may have a so-called "dead man's" statutes on the books, the Minnesota has for quite some time rejected the approach favored in such statutes. Instead, Minnesota law opts to rely on the truthfulness of witnesses in probate disputes."Dead man's"...