I read a very interesting article last week regarding the necessity of doing some end-of-life planning amid the current pandemic. The article centered around a 75-year-old Washington woman who contracted COVID-19 and as a result, passed away. The article discussed her advanced health care directives and end-of-life planning. Planning that allowed family members to implement […]
The Problem with DIY Estate Planning
A number of do-it-yourself options—including books, software and websites—allow you to generate a will or other estate planning documents for a fraction of the cost of hiring an attorney to prepare your will. While the upfront savings are enticing, there is no shortage of “horror stories” involving DIY wills and the resulting long-term emotional and […]
If a party fails to file their case within one year, do they have any recourse?
In Minnesota a lawsuit can be commenced by notifying the defendant. No immediate court filing is necessary. In Gams, the Minnesota Court of Appeals faced the question of whether the recent rule requiring the filing of a civil action within one year of commencement is absolute. Beginning July 1, 2014, the Minnesota Supreme Court, through […]
Tax Considerations During Estate Administration
If you are serving as personal representative administering the estate of a loved one, among your most important duties are ensuring that all of the decedent’s tax returns are filed and any taxes are paid. The following are the main categories of taxes that you should be considering. Decedent’s Final Income Tax Return As personal […]
Using a Qualified Domestic Trust to Qualify for the Estate Tax Marital Deduction
One of the key concepts of estate tax planning for married couples is the ability to defer estate taxes until the death of the second spouse. Any property that passes to the surviving spouse reduces the size of the deceased spouse’s taxable estate. This is known as the marital deduction. However, if the surviving spouse […]
