Taxes
The following articles detail some of the issues concerning the role of taxes in Minnesota Estate Planning and Probate.
Estate Planner's Arsenal: The Irrevocable Life Insurance Trust
03/16/2013 - The "Estate Planner's Arsenal" series highlights specific estate planning tools and their uses. An Irrevocable Life Insurance Trust ("ILIT") is a relatively straightforward estate planning tool that is used primarily for reducing or avoiding estate taxes, as well as maintaining more control ...
Estate Planner's Arsenal: Disclaimer Trust
10/18/2011 - The "Estate Planner's Arsenal" series highlights specific estate planning tools and their uses. The Disclaimer Trust is an increasingly popular method for married couples to fully utilize the marital deduction in order to decrease possible estate taxes upon the second spouse's death, thus prese...
Gifting Tip - Appreciable Assets and Basis
07/10/2011 - Here are some gift giving tips and strategies if you are planning on making a lifetime gift of property, as opposed to money. When you give someone property during your life (like stocks or land), that recipient of the gift gets a "carryover basis" in the property. For example, if you pai...
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...