Every state that recognizes trusts as legal entities imposes fiduciary duties upon the Trustee of such trusts. These duties may have different names in different jurisdictions, but ultimately a breach of fiduciary duties means that the Trustee failed to fulfill their duties as expressed in the trust instrument and under local law. This article examines a case ripped from the headlines that demonstrates the importance of choosing the right individuals to serve as fiduciaries. Read on to learn … [Read more...] about Estate Planning and Baseball
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Proper Estate Planning Brings Peace of Mind During a Disaster
Estate planning isn’t just about securing your legacy—it’s about protecting your assets and loved ones when disaster strikes. Updating an outdated Estate Plan or creating a new one provides a set of instructions for your family regarding what you want to happen during your life if you lose the ability to communicate that and at death. It provides comfort and a sense of control. This article will serve as a guide to getting more out of your Estate Plan during a disaster. Read on to learn more. … [Read more...] about Proper Estate Planning Brings Peace of Mind During a Disaster
What Can I Do If I Suspect Elder Abuse or Neglect in Minnesota?
It can be difficult enough watching an elderly loved one struggle with the physical and/or mental deterioration that goes along with aging. Worrying about how caregivers are treating an elderly loved one adds another layer onto normal concerns about older family members. If you begin to suspect that your loved one is being abused or neglected, however, it is time to act. To help you decide how to proceed, the Grand Forks elder law attorney at Thompson Law explains what you can do if you suspect … [Read more...] about What Can I Do If I Suspect Elder Abuse or Neglect in Minnesota?
Is There a Small Estate Probate Process in Minnesota?
If you recently lost a loved one, and you are in charge of administering the estate that was left behind, you are likely feeling a bit intimidated by the prospect of dealing with the legal system. While it is always best to consult with an experienced probate attorney before doing anything, you should learn what you can about the Minnesota probate process as well. Minnesota, like most states, offers an alternative to probate for small estates. To help you decide if the estate you are … [Read more...] about Is There a Small Estate Probate Process in Minnesota?
Litigation…a Necessary Evil?
Anyone creating an Estate Plan wants to ensure that the plan will work as intended and will withstand legal challenges. Sometimes though, beneficiaries need to bring a legal contest to enforce the terms of the decedent’s plan and force fiduciaries to act in accordance with their duties. This article examines a recent court case that could have ended in a failure of the decedent’s Estate Plan. Read on to learn more. … [Read more...] about Litigation…a Necessary Evil?
Avoiding Probate in Minnesota: Strategies and Tools
While the distribution of your assets may be the primary focus of your estate plan, you may also choose to include additional goals in your estate planning process. For many people, probate avoidance is a common estate planning goal because it can save your loved ones time, stress, and money while still ensuring your estate is distributed according to your wishes. Probate is the legal process through which a deceased person's estate is administered, but it can be a lengthy and costly process. … [Read more...] about Avoiding Probate in Minnesota: Strategies and Tools
Andrew Knutson on Legacy of Agriculture Podcast
Listen to this episode of the Legacy of Agriculture podcast, join your host Chris Bair and Special Guest Andrew Knutson as they discuss the expected changes to the American tax system in 2025 and beyond, and what those changes could mean for you. Listen on Legacy of Agriculture site. … [Read more...] about Andrew Knutson on Legacy of Agriculture Podcast
Bridging the Past and Future
The best Estate Planners stay current on the latest trends. The American Academy of Estate Planning Attorneys held its semi-annual conference providing education on selected topics designed to inspire excellence in its Members. Read on to learn more about the unique experience at the Fall Summit 2024 Conference. … [Read more...] about Bridging the Past and Future
Pumpkin Kisses and Harvest Wishes
As the spooky season transitions into the season of Thanksgiving, it’s important to remember our why. Most of us do what we do for our families and loved ones. As the holiday season approaches, do something that will have a lasting impact on your family. Create a comprehensive Estate Plan. Make sure that you take the time to consult a qualified Estate Planning attorney who can provide advice regarding all the elements necessary to complete your plan. Read on to learn more. … [Read more...] about Pumpkin Kisses and Harvest Wishes
Comprehensive Guide to Trust Administration in Minnesota
Administering a trust is an important responsibility that requires a thorough understanding of both the legal and practical aspects involved. If you have been appointed as a Trustee in Minnesota for the first time, it is crucial to be well-prepared for the role. It is always best to work closely with an experienced attorney to ensure that you avoid making costly errors. To get you prepared, the attorneys at Thompson Law offer a comprehensive guide to trust administration in … [Read more...] about Comprehensive Guide to Trust Administration in Minnesota
