Posted on 9/24/2018 11:45 AM By RB Legal
A loved one died three weeks ago. You are the designated trustee, personal representative, or closest relative. You have notified family, friends, and employers. You have held the funeral or memorial service. You have secured the decedent’s home and possessions. You have looked for or located their estate planning documents, if they had them. Now what do you do?
Posted on 9/10/2018 11:36 AM By RB Legal
For married couples creating an estate plan, a trust may be a better option than a will. Trusts offer protection of assets during the couple’s lifetime as well as after the death of one of both spouses. Many kinds of trusts offer many kinds of protection. Why should married couples consider a trust?
Posted on 9/1/2018 4:00 AM By RB Legal
September 5 is International Charity Day. You may have causes or organizations that you care about. As a result, you may want to leave money or other resources toward accomplishing the goals so important to you. It is not enough to verbally tell someone about your wishes. You need to specifically express your wishes through creating and implementing an estate plan.
Posted on 8/20/2018 4:00 AM By RB Legal
If you become mentally or physically incapacitated, who do you want to manage your assets until you are able to do so yourself? Provisions in a will do not take effect unless you die. A trust, on the other hand, can take effect at any time. It can designate when and under what conditions a trustee can step in to arrange for your care, access your assets to provide that care, and manage your finances through your incapacity. The provisions can save you and your family thousands of dollars as well as avoid court proceedings and a court-appointed guardian.
Posted on 8/6/2018 10:28 AM By RB Legal
If you or your spouse dies, when it comes to providing for surviving children, sometimes a will is not enough to protect their inheritances. This is where a trust comes in. Trusts are not just for the wealthy. A trust is a legal entity that can own property and assets. Through the instructions you write into the trust, it can buy, sell, negotiate, manage, and disburse its assets for the benefit of your children. It gives you a lot of control after you pass away.
Posted on 7/17/2018 7:09 AM By RB Legal
Moving across state lines is increasingly common these days. Whether the transition is for a new job, a transfer, or to be closer to family, thousands of people relocate to Minnesota every year. Your relocation from elsewhere may affect your current estate planning. If you moved to Minnesota because of a separation, divorce, or the passing of a spouse, it is critically important to talk with a Minnesota attorney to see how that impacts your assets and beneficiaries.
Posted on 6/11/2018 4:00 AM By RB Legal
Quite simply, to let your family know your wishes, in an enforceable document, in directing how your assets will be distributed after you pass away. A Will lists the property you have and where—and to whom—you want it to go.
Posted on 3/12/2018 7:32 AM By RB Legal
Although probate may be considered a “necessary evil,” having a Court’s supervision (even limited) over the distribution of the estate can help resolve or avoid potential conflicts.
Posted on 11/13/2017 4:00 AM By RB Legal
There are all types of blended families. Generally, a blended family is defined as a family that is formed when adults join in a new relationship and both parties have children from previous relationships. My sister-in-law is an example of another type of blended family. She and her new husband both had children from previous marriages; in addition, her new husband was parenting his step-daughter who lived with him after her mom passed away. I have another friend who is raising her grandchild as her own. The trials and tribulations of these families have been celebrated in TV shows and movies such as Yours, Mine and Ours, Cheaper By The Dozen, Modern Family, The Brady Bunch, The Blind Spot and even Cinderella. Cinderella is a great example of the challenges that happen without estate planning. It may have ended happily ever after, but there were a lot of problems before “ever after.”
Posted on 10/16/2017 4:00 AM By RB Legal
Equine leases have significantly grown in popularity across Minnesota. When we talk about equine leases, we’re referring the to the umbrella that includes horses, pastures, breeding, facility, and other leases directly associated with horses and related industries. As with any other businesses leases, if not understood by both parties or drafted incorrectly, lease disputes can quickly escalate to time-consuming and costly lawsuits.