Wills are contested in Minnesota and around the country for many reasons. Parties who contest wills may be beneficiaries who are unhappy with what they will receive, or they could allege that the decedent was under duress or lacked mental capacity when they wrote the...
Blog
Month: December 2020
How can you figure out if you’re an heir?
When Minnesota residents die without a will, their heirs are typically next in line to receive all their assets. If you've recently lost a loved one, you might be wondering if you're entitled to a portion of their estate. Here's how you can figure out if you're one of...
What you need to know about the alternate valuation date strategy
It is often the case that families in Minnesota and around the nation will find out about the hefty taxes they need to pay on an estate days after the relative's death. According to the IRS, holders of an estate with an accumulative value of over $11.18 million must...
How does date of death affect valuating an estate?
The value of an estate is still eligible to be taxed after the estate owner dies, creating the need for estate valuation to determine the taxes owed. For Minnesota residents who are unfamiliar with the estate litigation process, this may seem like a daunting task....
The inheritance rights of a surviving spouse
As a general rule, you are free to disinherit your spouse for almost any reason that you could imagine. However, under Minnesota law, that person may still have a claim to a portion of your assets after your passing. This may be true whether those assets were listed...
Order of inheritance: Understanding the succession plan
It is crucial that individuals in Minnesota and around the country know who will take control of their estates after they pass on. This is called the order of inheritance, and depending on your state, it will determine the people who will receive part or the entirety...
What are collateral heirs?
Ideally, when a person passes away in Minnesota, their last will and testament allows their estate to be distributed according to their wishes. Unfortunately, not everyone leaves behind a will when they die. If they don't, it's up to the judge to figure out how their...
Who gets a copy of a trust in Minnesota?
To ensure that their assets are distributed evenly after they die, many people set up trusts in their estate plans. A trust gives a person individual control of financial assets and entrusts them with distributing these assets to the beneficiaries. If you have a loved...