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How Do You Limit Your Estate Tax Liability in Minnesota?

Minnesota imposes a tax on the estates of individuals who are residents of the state when they die or who own tangible property in Minnesota. The tax filing threshold is $3,000,000, which is much lower than the federal estate tax. Using strategies like revocable living trusts and lifetime gifts helps to strategically reduce estate size to limit or avoid estate taxes.
A couple learning how to limit or avoid Minnesota estate tax
Different Types of Wills in Minnesota

Different Types of Wills in Minnesota: Understanding the Right One for You

Familiarize yourself with various wills - simple, testamentary trust, holographic, joint, living, pour-over, nuncupative and deathbed wills in this comprehensive overview. Our team will help you to choose a will type that aligns with your estate size, family dynamics and specific wishes.
wills family

Wills: Should Each Child Get The Same?

Learn when it's wise to leave your kids equal shares when drawing up a will, and what risks can come with an unequal distribution. This Investopedia article provides guidance.
Don't add minors to bank accounts

Don’t Add Minors To Bank Accounts!

Extended-Family

Communication is Key in Generational Estate Planning

For most families, the estate planning process is more involved than simply naming beneficiaries. While the primary goal of estate planning is transferring assets in an orderly and tax-efficient manner, it’s just as important to focus on preserving wealth across generations.
A couple learns how long probate takes in minnesota

These Three Things Will Force Probate!

Uncover the three key things that mandate probate before a will can be executed and assets divided.
Minnetonka MN Probate Attorneys

Transfer On Death Deed: Watch Out

Discover how a Transfer on Death Deed (TODD) can help avoid probate without a revocable trust when transferring ownership of a house after death.
health care

What Do I Need to Do When a Loved One Dies?

It’s easy to overlook an important task after a spouse or other loved one passes away – like retitling assets. It’s a little thing with big ramifications. Follow this checklist to help make a challenging time less confusing.
Is my will public record in Minnesota?

Is My Will Public Record?

irrevocable Trust attorneys

Who Can Change My Revocable Trust?

Probate court can be avoided with the right revocable trust by immediately passing assets after the grantor passes. Read our guide to learn who can change it.
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Do I Really Need a Trust and Estate Planning Lawyer?

Some people don’t think you need an attorney if you want to set up a revocable trust, but the truth is, your trust is one of the most important documents you’ll ever create. Having your revocable trust set up with the assistance of an experienced attorney ensures that it will protect your assets and that your wishes will be honored. Book a call today to get started!

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