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Estate Planning Archives

Minnesota takes the sting out of no contest clauses in wills

We recently posted tips to help you to avoid family conflicts over your estate. However, we are also mindful of the fact that some people may not be satisfied with how you have provided for them in your estate plan. For those beneficiaries of your estate, the law offers you an option that might make them think twice before pursuing a will contest.

Distribution options for an annuity beneficiary in Minnesota

When a person owns a non-qualified deferred annuity and leaves it to a designated beneficiary other than a surviving spouse, the beneficiary will then have several different options to receive the funds. It is important to understand the different options and then to choose wisely for the greatest benefit.

Minnesota estate planning and baby boomers

One of the biggest errors baby boomers tend to make is failing to complete their estate plans because they either think the plans are unnecessary or they simply put them off. Failing to complete estate plans can leave families dealing with protracted court processes and dwindling assets due to higher taxes. It is thus important for baby boomers to have not only retirement plans in place, but also estate plans.

Estate planning considerations in Minnesota

While many Minnesota residents may be familiar with the traditional big three estate planning considerations, they may not be as aware of other things that should be taken into account. Historically, estate planning has been conducted with an eye toward taxes, family and charity. With changing laws, however, these are not the only three areas that should be considered when planning an estate.

Avoid Family Conflicts by Planning Ahead

Family Feud may be a fun gameshow to watch on television, but it's not something you want to develop in the context of an estate. Unfortunately, family conflicts surrounding probate and estates can be quite common. In some cases, relationships among siblings, cousins, and even surviving parents and children are irrevocably damaged. The good news is that you can minimize the likelihood of these conflicts through advanced planning.

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