When Minnesota residents set up a trust, they appoint a trustee to be in charge of the principal assets to provide for the beneficiaries. The trustee has a fiduciary duty to the trust, to ensure that it is financially solvent, so that it can provide for the...
Blog
Month: July 2013
Wills often bring tax trouble, even when there’s no estate tax
Minnesota residents have no doubt heard of the debates over federal estate taxes, which pop up every few years in Congress. However these taxes, derided as "the death tax" by opponents, affect relatively few families. Currently, estates can transfer up to $5,250,000...
James Gandolfini’s will leaves most of estate to minor children
When actor James Gandolfini died from a heart attack last month at the age of 51, many of his fans in Minnesota were stunned. As it turns out, the star of "The Sopranos" had planned for the possibility that something like this could happen.News media recently reported...
Sometimes an estate’s greatest asset is a right to sue over death
When a person dies unexpectedly without a will in Minnesota, it is common for family members to argue over who gets the money, the house or other property. But there are many other assets that can make up the dead person's estate.In one unusual recent case, a probate...