Trust Backup Planning
Backup planning for a trust or estate plan starts with addressing bad day scenarios. Selecting an alternate trustee is not good enough when [Read More]
Category: Trusts and Succession Planning
Trusts should always take a holistic view of a client’s unique circumstances. This law office helps Clients to establish trusts tailored to their particular needs and wishes, taking into any account business requirements, family specifics, and relevant risk factors.
Trusts and Succession Planning
Asset Protection Trust – What Does It Do?
An Asset Protection Trust provides asset protection for the beneficiaries that could be available from giving those same assets to your [Read More]
Inflation Planning Within an Estate
Inflation impacts the estate planning process too. Granting a trustee these specific powers to account for money problems due to inflation can [Read More]
Skipping GST Tax or Working Around It?
The GST Tax is somewhat defined under Chapter 13 of our tax code. The name of the game is finding ways to reduce estate taxes that [Read More]
Thrift Savings Plans and TSP Beneficiary Forms
Thrift Savings Plans and their accompanying beneficiary forms can cause unintended pitfalls for our military and civil service families [Read More]
EDB or Eligible Designated Beneficiary
There are 5 categories of an EDB or Eligible Designated Beneficiary. As described in Section 401(a)(9)(E)(ii) of the code, an EDB is: The Surviving Spouse [Read More]
Separate Trusts for Retirement Benefits Sometimes Stink
Separate trusts for retirement benefits is a common question amongst families wishing to transfer an IRA or 401(k) onto children or grandchildren. Often the [Read More]
Registered Agents for a Business in Minnesota
Registered Agents and trustees serve a business in different capacities. An agent’s job is to be available for service of process while trustees [Read More]
Trust Types and Trust Goals Are Not The Same
Trust types are as endless as paint colors. You never know until it dries. For this reason, starting with a trust goal is more significant because [Read More]
Living Trust: My 1⃣ Sentence Definition
A living trust in Minnesota is as simple as creating a piece of paper that outlines transfer rules and beneficiaries. The trustee of a living trust has the [Read More]