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Many Minnesota residents set up their estate plans to try to keep a particular piece of real estate or a business in the family. To achieve this goal, they may set up trusts, conditions in a will or other instruments to direct the behavior of their heirs and...
Minnesota Twins fans disappointed in the team's performance this season may be surprised to hear this, but the Major League Baseball team has been valued at $578 million. That's good news for the Pohlad family, who control the franchise they inherited from owner Carl...
According to one recent study, the 76 million members of the Baby Boom generation are inheriting $8.4 trillion from earlier generations. Much of this money is coming at a time when the economy is sluggish, and when younger generations are stuck with student loan debt...
When Minnesota residents set up a trust, they appoint a trustee to be in charge of the principal assets to provide for the beneficiaries. The trustee has a fiduciary duty to the trust, to ensure that it is financially solvent, so that it can provide for the...
Minnesota residents have no doubt heard of the debates over federal estate taxes, which pop up every few years in Congress. However these taxes, derided as "the death tax" by opponents, affect relatively few families. Currently, estates can transfer up to $5,250,000...
When actor James Gandolfini died from a heart attack last month at the age of 51, many of his fans in Minnesota were stunned. As it turns out, the star of "The Sopranos" had planned for the possibility that something like this could happen.News media recently reported...
When a person dies unexpectedly without a will in Minnesota, it is common for family members to argue over who gets the money, the house or other property. But there are many other assets that can make up the dead person's estate.In one unusual recent case, a probate...
Minnesota residents may have been following the recent reports of the poor health of the famous former South African President Nelson Mandela. As of this writing, Mandela, 94, was hospitalized with a lung infection. As he lay in a hospital bed, some of his family...
A valid will represents a person's wishes for what is to be done with their property after their death. Since the person is not around anymore to clarify those wishes, Minnesota courts try to stick as close as possible to what the will specifies. However, first, the...
There has been a lot of hand-wringing in the media in recent years about what will become of the millennials, the generation of Americans now coming into their early twenties. Magazines, television newscasters and websites all want to know if these social media...