Like any other complex subject, estate planning has its share of myths and misconceptions. Understanding the top three estate planning myths will help you to create and maintain a plan that will work the way you expect it to work when it’s needed.
Believe it or not, in the U.S. it isn’t easy to disinherit your spouse. But the same is not true for other family members – generally, you can use your estate plan to disinherit your brothers and sisters, your nieces and nephews, or even your very own children and grandchildren. (more…)
This is a question that I hear quite a bit. This answer can also vary from person to person. It is true that regardless of the size of your estate, the law provides a method to give your property to your heirs. Most commonly this is done through a Will. (more…)
A question that often comes up for both my Real Estate clients and Estate Planning clients concerns the signatures required for Deeds. This is very much a question when it comes to married persons. This most commonly comes up when dealing with the gamily homestead. Minnesota has an easy method to remember this. You should always think “One to sell and two to buy.” Generally speaking, it only takes one spouse’s signature to buy property, but it takes both signatures to sell. (more…)
Most parents want to treat their children fairly in their estate planning, and many assume that means having their children inherit equally. But fair does not necessarily mean equal. There may be special circumstances to consider. (more…)