Simple Estate Planning: Lifetime Gift Giving
07/10/2011 - One of the simplest methods of estate planning is lifetime gifting of money or property. A gift is a transfer of money or property in exchange for nothing or for less than full value. Reduce Estate. Lifetime gifts are a great way to reduce a taxable estate, thus getting money out of you...
Estate Planner's Arsenal: Transfer on Death Deed
06/29/2011 - The "Estate Planner's Arsenal" series highlights specific estate planning tools and their uses. The Transfer on Death Deed ("TODD") is a relatively new tool in the Minnesota estate planner's arsenal. TODDs became available in 2008 after Minn. Stat. Section 507.071 was signed into law. The T...
Probate Alternative: Collection by Affidavit
06/25/2011 - In Minnesota, if the decedent owned probate property, but the value of the property is small enough, the legislature created a method for collecting that property without having to open a full-blown probate proceeding. This process is known as Collection by Affidavit and the requirements are s...
Will My Estate Have to Go Through Probate?
06/25/2011 - Probate protects the interests of the estate's beneficiaries and creditors by ensuring the orderly distribution of assets and payment of debts/expenses. People often confuse the probate process with estate taxes and high-value estates. However, while estate taxes can be paid during the probate p...
Estate Planner's Arsenal: Life Insurance
06/23/2011 - The “Estate Planner’s Arsenal” series highlights specific estate planning tools and their uses. Life insurance can be one of the most important and versatile tools in the estate planner’s arsenal. It can be critical in estates big and small, taxable and non-taxable. Depending on your a...
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