If you’re putting together an estate plan and have a large amount of money to leave to a beneficiary as an inheritance, one thing you may be interested in is a trust. With a trust, you can leave assets to your beneficiary and protect those assets against creditors...
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Estate planning could help make school tuition less overwhelming
Sending your child to a private school or college can be a huge financial burden on families. However, many parents believe that a good education is one of the most important aspects of a child's upbringing, and they are willing to make sacrifices to ensure that they...
Is it time to update your estate plan?
Creating an estate plan is a big step forward. Not only does it protect your estate and loved ones upon your death, but it can benefit you and your family in many ways while you’re alive. While creating your first estate plan is an accomplishment in its own right,...
Examples of 3 different types of trusts
Trusts are one of the most valuable tools you have when creating an estate plan. They give you more control and the ability to dictate exactly how the assets you own move down to your heirs. A will allows you to say who gets what, but that’s about all it does. A trust...
Make a checklist to get started on your estate plan
A recent study shows only four out of every 10 American adults have an estate plan, including a will or trust to distribute their assets when they die. That low percentage has a lot to do with misconceptions over estate planning. First, you don’t have to be rich or...
A mechanic’s lien can affect an owner even when they weren’t the one who didn’t pay
When remodeling or putting an addition on a residential or commercial property, a property owner generally turns to a general contractor. The contractor then hires one or more subcontractors to complete specific tasks within the job, such as electrical, plumbing or...
The importance of contract review for developers
Real estate developers have many different details to consider when writing a contract. How much will the property cost? What will you need to do to make a profit in this venture? Do you have the protections you need if something goes wrong? The answer to many of...
Why you need a power of attorney
As we grow older, we can’t expect to always be in a sound mind to make important decisions. An unexpected accident or illness, or general old age, can cause memory loss or other impairments that can affect our judgment. This is why every Minnesotan must create a power...
4 reasons to update your estate plan
An estate plan should not be a static collection of documents. As you experience changes throughout your life, your estate plan should be updated as well. Here are four good reasons for making updates to an estate plan. 1. Your family has changed You should review...
A criminal past holds you back, but the state can push you ahead
A criminal conviction can keep dragging you down years after you’ve paid your price. Getting a fresh start could be essential to moving on, but it could take a lot of work to get the state to wipe your slate clean. Employers are 60% more likely to return your call if...