Archive for August 23, 2016

What Does “Per Stirpes” Mean?

Estate Plan“Right of representation” and “per stirpes” are two ways of describing the same method for dividing the assets of the deceased, but what do the phrases mean?

A second way of dividing a deceased person’s assets in Minnesota is “per capita at each generation”.

Translation?  » Read more..

Naming Life Insurance Beneficiaries

Headline of Life Insurance for background

Chances are that you no longer remember whom you’ve named as the beneficiary of your life insurance policy. You should find out. Why? The beneficiaries that you listed with your life insurance company trump any beneficiary designations that you may have made via your Minnesota Will.

It’s also important that your loved ones know that you have a life insurance policy and where to find it.  Otherwise, the life insurance money may go unclaimed! » Read more..