Archive for January 28, 2014

Did Mom Loan or Gift Money to Brother?

Whether Mom intended the cash that she gave to your brother to be a loan or a gift can be a contentious issue when it’s time to divvy up Mom’s estate after Mom’s death.

Mom may have wanted everything she owns divided equally among her three children.  But what about that money that Mom gave to your brother before her death?  Was it an outright gift? Was it a loan which was to be repaid? Was it an advance against brother’s share of Mom’s estate?  Will brother end up with more than his one-third share in the end? » Read more..

Why You Need an Estate Plan

Consider these consequences if you die in Minnesota without an estate plan: » Read more..

Claiming Residence in Another State to Flee Minnesota’s Taxes?

If you’re trying to avoid Minnesota’s estate, gift and income taxes by claiming another state as your state of residence, Minnesota’s tax collector – the Minnesota Department of Revenue – will be watching. » Read more..

Questions to Ask Your Parents

Sometimes it’s hard for family members to get the conversation started regarding estate planning, so try these questions as an aid to this important discussion:

  1. Do you have a Will?
  2. Do you have a Health Care Directive?  » Read more..