In today’s digital age, our lives have transcended the tangible. Photos, letters, and financial accounts, which were once stored in drawers, file cabinets and safes, are now often saved in the cloud or on hard drives. As our digital footprints grow, the importance of including digital assets in estate planning becomes...
Category: Estate Planning
Why You Should Avoid “Do-It-Yourself” (DIY) Estate Plans in Minnesota and Use An Attorney
It might seem tempting to try to save money and do your own estate planning. However, using an attorney for estate planning in Minnesota has many advantages over a do-it-yourself (DIY) approach. Here are some reasons why you should consider using an attorney:
Complexity of LawsCryptocurrency & Estate Planning
What is Cryptocurrency?
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Cryptocurrency is a digital currency that can be used to buy goods and services online. You can buy cryptocurrency or “mine” cryptocurrency using computer technology. Cryptocurrencies are becoming a modern investment opportunity.
There are thousands of different cryptocurrencies that are traded publicly...
Choosing a Guardian for Minor Children
If you are a parent and you are considering estate planning, one of the most difficult decisions you will have to make is choosing a guardian for your minor children. It is not easy to think of anyone else, no matter how loving, raising your child. Yet, you can make a tremendous difference in...
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What Your Loved Ones Absolutely Need to Know About Your Estate Plan
The conversation about a person’s last wishes can be a difficult one for both the individual who is the topic of conversation and his or her loved ones.
The end of someone’s life is not a topic anyone looks forward to discussing. It is, however, an important conversation that must be had so that the...
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3 Estate Planning Mistakes to Avoid
Recent studies have shown that only a little more than half of all Americans have a Will or Trust document in place to direct their estate after they pass away, and that the vast majority of those documents have not been updated in the last five years.
Even worse, it’s been reported that...
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Borrowing From Your Retirement Accounts: Issues to Consider
So you have credit card debt, overdue mortgage payments, or suddenly need to buy a new car. We’ve all been there. You need money now, and your retirement accounts continue to climb. Fortunately, many employers allow you to take out loans on these accounts, but should you really begin spending that money before...
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Preserving and Protecting Documents Is Part of Healthy Estate Planning
In the unsettled time after a loved one’s death, imagine the added stress on the family if the loved one died without a will or any instructions on distributing his or her assets. Now, imagine the even greater stress to grieving survivors if they know a will exists but they cannot find it!
The Critical...
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What happens if you are bequeathed a car that no longer exists? The ABCs of Ademption
If you’re involved in settling a loved one’s estate, you may come across the curious word “ademption”. Ademption describes what happens when something designated in a will no longer exists.
What is Ademption?
Say, for example, your uncle dies and leaves for you in his will an old-school Harley Davidson motorcycle. However, if your uncle crashed...
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A Living Will or Health Care Power of Attorney? Or Do I Need Both?
Many people are confused by these two important estate planning documents. It’s important to understand the functions of each and ensure you are fully protected by incorporating both of these documents into your overall estate plan.
What is a Living Will?
A “living will,” often called an advance health care directive, is a legal document setting...
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