NEWS & INSIGHTS

Have You Done Your Annual Business Updates?

Have You Done Your Annual Business Updates?

It’s not uncommon in our office to sit down with a new business client, ask to see the corporate records, and have a thick, dusty, leather-bound binder from the 1970s dropped onto the desk with a thud. We get it; business owners are busy people. Especially in a...

IRS Blesses 2nd Marriage Planning Technique for IRA

The following article was written by Charles (Chuck) Rubin for JDsupra.com.  It details a new estate planning technique approved by the IRS that may prove useful to individuals in second marriages. A common issue in planning for marriages with prior children is how to...

Estate Planning Jargon: What Does it Actually Mean?

Estate Planning Jargon: What Does it Actually Mean?

Confusion seems to abound among non-lawyers (and, unfortunately, some lawyers) about the various roles people or institutions can play in typical estate plans.  These are the “personnel decisions” in estate planning. Clients often question what it means, for example,...

Planning for Your Pet After You’re Gone

Planning for Your Pet After You’re Gone

Do You Treat Your Pet Like Family? While you may treat your pet like family, the law doesn’t.  Many people don’t realize that if not specifically accounted for in an estate plan, a pet will be treated as any other personal property.  The repercussions can range from...

Duties of the Health Care Agent

In general, the duties of a health care agent under a Health Care Directive made pursuant to Minnesota Statutes Chapter 145C are to make health care decisions for the principal when the principal, in the determination of the attending physician, lacks decision-making...

Duties of An Attorney-In-Fact

DUTIES OF AN ATTORNEY-IN-FACT (the person to whom a power of attorney is granted) In general, when someone (the principal) executes a power of attorney they grant the attorney-in-fact (the person to whom the power of attorney is granted) potentially broad powers to...

Duties and Powers of the Trustee

In general, a trustee’s duties are to administer the trust; specifically to hold, administer and distribute the assets of the trust estate in accordance with the trust agreement and applicable law. Various statutory provisions, portions of which are set forth below,...

Duties of the Personal Representative of The Estate

In general, a personal representative’s duties are to probate the decedent’s will; specifically to inventory and determine the value of the assets of the decedent’s estate, take possession of those assets, determine the liabilities of the estate and make arrangements...