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...
Blog
Estate Valuation
What happens if debt is not paid off by an executor?
When a Minnesota resident dies, they have often accumulated debt. It is important to address this debt when the affairs are sorted out. If there is debt that is not paid off by an executor, there can be some problems. Paying off the estate's debts is one of the...
How to determine the value of an estate
When a person passes away, their heirs and other family members are there to help settle the estate. This can be a complicated process, especially if the person has quite a few assets that need to be settled. An estate needs to have a valuation completed, but how is...
Helping you resolve estate valuation issues during probate
Nowadays, individuals in Minnesota and elsewhere understand the importance of establishing an estate plan. Taking this step not only protects the individual and their wishes when it comes to property and asset distribution, but it also protects the loved ones of the...
Estate probate and creditor claims
When a family member dies, their estate may wind up in probate. The probate process in Minnesota can be complicated and involve many different interested parties. One of those parties may be creditors. When an estate is in probate, there is often a personal...
What is estate mediation?
When someone dies, they typically leave their estate to their loved ones. Occasionally, disputes arise regarding the estate among those who are left behind. In these circumstances, estate disputes can become complicated and stressful. Estate mediation is one way to...
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...
Estate valuation of household property
Being an executor of an estate in Minnesota carries numerous responsibilities which, if not properly performed, can lead to court battles among heirs, family members and creditors. Estate valuation of household property is one of these important responsibilities.Every...
How is the value of an estate calculated?
When a Minnesotan dies, their estate is an important legacy that they leave behind. For tax purposes, the value of the estate needs to be calculated. There are two ways for an estate valuation to take place.One valuation that is made of an estate is the date of death...
We competently handle disputes with taxing authorities
Last week's post on this Saint Paul, Minnesota, estate litigation blog discussed the "step-up basis" and its importance in putting the correct value on a probate estate. Arguments over what basis to apply to a piece of property, however, are just one of the many...