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Estate Planning

Having the proper planning in place will depend greatly on your individual circumstances. Having only a Will may lead to probate. At the same time, having a Revocable Trust is not right for every individual or family. We listen intently to our client's goals and objectives to determine which estate planning techniques are appropriate for each situation. Our estate planning services include:

  • Wills
  • Revocable Living Trusts
  • Irrevocable Trusts
  • Powers of Attorney
  • Health Care Directives
  • HIPAA Waivers
  • Charitable Trusts
  • Irrevocable Life Insurance Trusts (ILITs)
  • Estate Tax Minimization Strategies
  • Gift Tax Minimization Strategies
  • Asset Protection
  • Divorce Protection for Beneficiaries
  • Estate Planning for Blended Families
  • Advanced Estate Planning Strategies
  • Family Limited Partnerships
  • Planning for Agricultural/Farmland

Probate

When a loved one dies, it is imperative that you meet with a qualified professional to ensure that the estate is administered properly. Failing to do so can result in unnecessary taxes, court fees, attorney fees, and even personal liability of the executor. Our firm routinely handles probate matters and advises personal representatives (executors) on how best to administer the estate while limiting their own personal liability.

Trust Administration

The trust administration process is similar to the probate process in that you must collect all of the assets, and pay valid debts, taxes and last illness expenses. Once that is complete, you will distribute the assets according to the terms of the trust document. Unlike probate, however, this is all done privately without court involvement. Because of this, the trust administration process is usually much quicker than the probate process.

Estate and Gift Tax Returns

  • Preparation and Filing of Minnesota and Federal Estate Tax Returns
  • Preparation and Filing of Federal Gift Tax Returns