Sonny Bono, the singer, songwriter, restauranteur, former Mayor of Palm Springs, and former Congressman, died in a tragic ski accident in Nevada in 1998 at the age of 62. His net worth was just under $2 million at the time of his death, yet Bono did not have a will. Apparently, he meant to have…

With all the information out there regarding wills, trusts, estate planning, and probate, how can you figure out what is right for you and your family? Here is a quick way to get you started with analyzing whether you need a will or trust in Minnesota. You want to avoid probate. Probate has a bad…

If you think you only need to create discretionary lifetime trusts for young beneficiaries, problem beneficiaries, or financially inexperienced beneficiaries, then think again.  In today’s age of lawsuits and high divorce rates, discretionary lifetime trusts should be considered for all of your beneficiaries, minors and adults alike. What is a Discretionary Lifetime Trust? A discretionary…

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…

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