When Will the SECURE Act Become Law? On May 23, 2019, by a vote of 417 to 3, the US House of Representatives passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 (H.R.1994). The SECURE Act will now head to the Senate for review. How long the Senate may take to…

When establishing a trust, you need to give serious thought to choosing your successor trustee—the person who will administer your trust once you’re no longer able to do so. This individual ideally should be: Someone you trust implicitly.Someone who is organized, responsible and meticulous.Someone who can remain steadfast to your wishes in the face of…

While it is an honor to be named as an executor of a will or estate, it can also be a daunting responsibility and a thankless job. Being an executor (now known as a personal representative) requires a high level of organization, foresight, and attention to detail to meet responsibilities and ensure that all beneficiaries…

Can you hand-write your own will in Minnesota? Yes and No. These types of wills are typically known as “holographic wills”. A holographic will is a will that is written in your own handwriting that does not need to be witnessed when signed. The thought process behind permitting holographic wills is that it would be…

Considering the many types of trusts available, creating an estate plan that works can seem daunting.  However, that’s where estate planning attorneys come in. We study the laws so that we can design a plan which addresses your specific situation.  Here’s a look at the basics of ten common trusts to provide a general understanding….

Many estate plans today contain trusts that will continue on for the benefit of a spouse’s lifetime and then will continue on for the benefit of several generations.  Because these trusts are designed to span several decades, it is important for the grantor (trust creator) to consider including “powers of appointment” in the trust to…

In the United States, approximately seventeen percent (17%) of people remarry after the first marriage ends. Somewhat surprisingly, the remarriage rate has dropped for each age group with the exception of the 55-and-older group (57% in 2013 versus 42% in 1960). If you remarry, there is a significant risk that your assets do not end…

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…

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