COVID-19 Relief for Estate and Gift Q&A from the I.R.S.

COVID-19 Relief for Estate and Gift Q&A from the I.R.S.

On April 23, 2020 the I.R.S. posted information on issues raised by the COVID-19 relief time extension granted to taxpayers to fulfill their estate, gift and generation-skipping tax obligations.  Below is are the questions and answers provided by the I.R.S..  The...

2020 Tax Reference Guide

Our friends at Business & Estate Advisers, Inc. in Wayzata have put together the following 2020 Tax Reference Guide for our Wayzata law firm.  If you have questions about the impact of 2020 tax law on your estate plan, we’d be happy to discuss it with you. ...
How to Limit Your Minnesota Estate Taxes

How to Limit Your Minnesota Estate Taxes

Does Your Estate Plan Limit Minnesota Estate Taxes?  If Not, Here are Some Things for Married Minnesota Residents and Nonresident Minnesota Property Owners To Consider Minnesota is an equal opportunity estate taxing authority: it taxes residents and nonresidents...
Beyond rivalry:  Talking about money with siblings

Beyond rivalry: Talking about money with siblings

Insights from the Ameriprise Financial Family Wealth Checkup study Key Points Nearly two-thirds of siblings talk about money with each other While financial conflicts are rare, they usually involve issues regarding parents Uniting to deal with money issues can help...

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...