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Probate and Estate Litigation Blog

May 2017 Archives

Exploring the basics of estate valuation

When a loved one dies in Minnesota, a personal representative may engage in estate valuation for tax purposes and for its proper distribution. A person may also calculate the value of their estate when they are alive to help them determine the value of estate, make decisions about their will and calculate taxes for their heirs and estates.

Can you disinherit your children?

In a perfect world, your children would turn out just how you wanted, and you would be able to quietly pass on with the assurance that they are doing what you preferred with your assets and money. Unfortunately, in real life, this is not always the case, and there are times when you may need to consider disinheriting your children to protect the estate you have worked so hard to build.

Handling digital assets upon death

Estate planning has long dealt with transferring property such as real estate, funds and jewelry as inheritances. Technology, however, has created new issues with the advent of digital assets such as the information stored social media, Twitter, blogs, personal or professional websites and online bank accounts. Minnesota residents may be surprised to hear, however, that many existing wills, estate plans and trusts have not properly addressed digital property, which can end up in contentious court fights.

Heirs unprepared for wealth transfer

The composition of families of the baby boomer generation have been less traditional, due to more couples entering into second marriages or living together without getting married. A recent report from BMO Wealth Management found this could greatly complicate asset distribution to heirs and beneficiaries after a parent's death. For families in Minnesota, this could lead to more legal wrangling.

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