Probate or Non-Probate Asset?
At the end of the life of our loved one or family member, there are many issues that will need to be sorted through. This includes not only the grieving process, but also arranging the funeral and notifying relatives. In most cases, this will also include initiating probate. Probate is the process by which the […]Read More
What If the Estate Is Insolvent?
At the end of the life of your family member or loved one, there are many issues to take care of. These issues include planning the funeral, notifying relatives, and cleaning out the residence if he or she does not have a surviving spouse or partner. One step that needs to be taken in most […]Read More
Equitable Distribution and Offsets
There are many steps to take when trying to settle a divorce. The issues range from spousal maintenance to child custody to division of marital assets. In Minnesota, marital assets and marital debts are subject to an “equitable distribution” by the judge. The judge will examine a specific list of factors that are set out […]Read More
Selling Assets During Probate
During probate, there are a number of tasks that must be accomplished by the personal representative. The personal representative, also sometimes called the executor in other jurisdictions, is responsible for notifying potential heirs and beneficiaries, providing legal notice to creditors, filing an estate inventory, and a litany of other tasks. One important job of the […]Read More
Non Probate Assets and Debts of the Estate
Probate is a technical sounding term to many non-lawyers, but it is really just the legal process of properly paying the debts owed by the decedent and his or her estate, as well as distributing the remaining estate assets to the beneficiaries designated in the decedent’s will or by Minnesota law. The personal representative of […]Read More
Why Leaving Assets Outright to a Beneficiary Can Backfire
The cornerstone of many estate plans is the last will and testament. Your will provides you with the chance to make sure that your assets are distributed to the particular beneficiaries you name. Your will is your best chance to tell the probate court exactly how you want your estate handled. Many people think of […]Read More
Special Issues for High Net Worth Divorce
We all work diligently to ensure the financial security for our families. Careful planning, scrupulous saving, and hard work can result in a comfortable lifestyle for you and your family. This financial comfort and security, however, does not always promise a happy marriage, and even wealthy individuals may find their relationship failing and are now […]Read More