http://www.mnprobateestate.com Liftoff to Space Exploration. en-us Sat, 16 Mar 2013 15:12:03 -0500 http://www.mnprobateestate.com/feed.xml http://www.mnprobateestate.com/article/irrevocable-life-insurance-trust The "Estate Planner's Arsenal" series highlights specific estate planning tools and their uses. An Irrevocable Life Insurance Trust ("ILIT") is a relatively straightforward estate planning tool that is used primarily for reducing or avoiding estate taxes, as well as maintaining more control ... Sat, 16 Mar 2013 15:12:03 -0500 http://www.mnprobateestate.com/article/irrevocable-life-insurance-trust http://www.mnprobateestate.com/article/estate-planning-for-pets Pets are quite often seen as part of the family and much like their own children, pet owners worry about their pet's care after the owner's death.  Under Minnesota law, pets are considered property.  They cannot directly inherit property, own property, or be the beneficiaries of a trust.  So,... Thu, 14 Mar 2013 11:42:15 -0500 http://www.mnprobateestate.com/article/estate-planning-for-pets http://www.mnprobateestate.com/article/how-your-house-is-titled A common estate planning mistake is not knowing how your house or other real estate is titled, or incorrectly assuming that your house is titled a certain way.  When multiple people (most often a married couple) purchase a home, they are given the option to take title as joint tenants or as ten... Wed, 13 Mar 2013 09:49:10 -0500 http://www.mnprobateestate.com/article/how-your-house-is-titled http://www.mnprobateestate.com/article/unmarried-cohabitating-couples-estate-planning Many people in long-term relationships live with their significant other, but for any number of reasons choose not to get married.  Estate planning is especially important for people in this situation if they expect their significant other to inherit property from them upon their death. A pers... Tue, 08 Jan 2013 16:33:01 -0600 http://www.mnprobateestate.com/article/unmarried-cohabitating-couples-estate-planning http://www.mnprobateestate.com/article/prenuptial-agreement-minnesota Once stigmatized (perhaps unfairly) as a bad omen to a marriage, prenuptial agreements (ante-nuptial or premarital agreement) are increasingly popular methods of family and estate planning.  They are a useful tool that can serve several important purposes.  Minnesota law provides for certain r... Tue, 04 Dec 2012 15:33:59 -0600 http://www.mnprobateestate.com/article/prenuptial-agreement-minnesota http://www.mnprobateestate.com/article/choosing-fiduciary-guardian-trustee A fiduciary is a person or an institution that you give the power to act on your behalf or administer your affairs according to the terms you lay out in your estate planning documents.  They have a "fiduciary duty" to act in good faith according to your wishes and the terms you set out defining... Thu, 25 Oct 2012 14:19:15 -0500 http://www.mnprobateestate.com/article/choosing-fiduciary-guardian-trustee http://www.mnprobateestate.com/article/choosing-fiduciaries-personal-representative A fiduciary is a person or an institution that you give the power to act on your behalf or administer your affairs according to the terms you lay out in your estate planning documents.  They have a "fiduciary duty" to act in good faith according to your wishes and the terms you set out definin... Fri, 12 Oct 2012 14:02:15 -0500 http://www.mnprobateestate.com/article/choosing-fiduciaries-personal-representative http://www.mnprobateestate.com/article/when-to-review-your-estate-plan If you already have estate planning in place, you are ahead of the game.  However, estate planning is not a one-time event, but is a lifelong process - especially when you start early.  It is a good idea to review your plan at least every two years to ensure that the plan still reflects your c... Thu, 20 Sep 2012 11:06:38 -0500 http://www.mnprobateestate.com/article/when-to-review-your-estate-plan http://www.mnprobateestate.com/article/what-happens-if-i-dont-have-a-will You're constantly told by attorneys, financial advisers, etc. that you need to have a Will (or some form of estate planning).  So, what happens if you die without having created a Will?  Here's a list of some important things you cannot do if you do not have a Will when you pass away. Minnes... Wed, 22 Aug 2012 13:19:17 -0500 http://www.mnprobateestate.com/article/what-happens-if-i-dont-have-a-will http://www.mnprobateestate.com/article/common-probate-avoidance-tools The "Estate Planner's Arsenal" series highlights specific estate planning tools and their uses. Clients often state that their main estate planning goal is to avoid probate.  This article does not comment on whether probate avoidance is a good thing, as that depends on everyone's unique perso... Sat, 28 Apr 2012 10:42:44 -0500 http://www.mnprobateestate.com/article/common-probate-avoidance-tools