Federal Estate Tax for 2019 The Internal Revenue Service announced recently that the Federal Estate & Gift Tax exemptions will be increasing for 2019. In 2019, individuals will be able to pass up to $11,400,000 free of any estate tax upon their death. The estate tax is unified with the gift tax, so an individual…

Choosing a Family Member as Trustee If you want your trust to last decades for your children, choosing the right trustee is critical to the trust’s longevity and ultimate success. Initially you may think that a family member, (“Uncle Bobby” to your children), will be the best choice as trustee.  After all, Uncle Bobby understands…

Joint Tenancy – A Common Form of Ownership in Minnesota for Real Estate Most married couples own their homes as joint tenants. In Minnesota, if you own property as joint tenants, and one joint tenant passes away, the surviving joint tenant (aka the surviving owner) will automatically be the sole owner of the property (provided…

WARNING:  Many people believe once they set up a Revocable Living Trust and transfer assets into the Trust, those assets are protected from lawsuits against them.  This is absolutely not true. While Trusts commonly provide asset protection for beneficiaries, few Trusts protect assets owned by the person who created the Trust from their own creditors…

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