Bitcoin and Cryptocurrencies are relatively new, and not going anywhere. In fact, they may make up a substantial portion of some people's estate. In today's video we look at some of the issues that Bitcoin and Cryptocurrencies bring to estate planning and how to go about addressing them.
Read MoreRevocable Living Trusts are not the only way to avoid probate. Sometimes, avoiding probate is simply a matter of reducing one's probate assets below the threshold to allow a probate alternative to be used. In today's video we look at two ways to convert probate assets into non-probate assets: the Transfer on Death Deed and the Pay on Death Account.
Read MoreTaxes are a fundamental part of estate planning. While not everyone's estate (or rather relatively few estates) will ever pay estate taxes, that doesn't mean taxation issues are unimportant. In today's video we look at the concept of step up in basis, and how it affects the vast majority of estates that include real estate or other select assets.
Read MoreIn today's video we look at how Attorney Fees are assessed in Probate. How are they calculated, and what are some of the dangers with each computation?
Read MoreIn today's video we explore Attorney Fees in Estate Planning. How are fees calculated and what should you look out for when talking with an attorney?
Read MoreIn today's video we explore Advance Mental Health Care Directives. What are they, what should be included, and can they even be done in Minnesota, a state without a mental health care directive or psychiatric directive statute? (Hint: They can!)
Read MoreIn this Part II of a two part series, we explore three additional myths about revocable living trusts.
Read MoreIn today's video we discuss three of the top 6 myths about revocable living trusts.
Read MoreWhether or not someone is another's child is a complicated question. In today's video we look at the statutory definition of "child" and run some hypotheticals regarding whether or not a person in a situation is another's child. Finally we look at three key ways that this matters in any probate.
Read MoreThere is a lot of paperwork and documentation that goes into a probate. In today's video we take the position that we are an interested party in a probate, but not the personal representative. What are the notices and documents we will or may receive in the mail during the process? What do they mean?
Read MoreCreditors do not have a claim on every asset in probate. In fact, some assets are explicitly exempt from creditor claims by statute. In today's video we discuss what is an exempt asset. We go over the three types of exempt assets – homestead, selected property, and family allowance – and how they interact with probate, as well as how classifying assets properly can avoid probate through a summary distribution.
Read MoreIn today's video, Affidavit for Collection of Personal Property Part II, we look at an estate planning strategy for avoiding probate that does not use a revocable living trust. In fact, we show how an estate worth greater than $1 million can be administered as a small estate using an affidavit for collection of personal property.
Read MoreIn today's video we discuss small estate administration. An affidavit of personal property is a probate alternative that allows an interested person to manage and close the estate without going through the entire probate process. The gross estate must be worth less than $75,000 and it must be solvent.
Read MoreIn today's video we discuss the difference between formal and informal probate. Why might you want one over the other? Which one is more expensive? Why might you be forced into one or the other?
Read MoreIn the last video we discussed how to get appointed as a personal representative. In today's video we flip it on its head – how can you get rid of a personal representative, or prevent someone from being appointed as personal representative?
Read MoreIn today's video we discuss the process of getting appointed as personal representative. Who can legally qualify and what is the priority of appointment. Also, what happens when two people want to be co-personal representatives, or what if nobody wants to be personal representatives? It's a complicated process, so join us as we break down some of the complexities.
Read MoreProbate assets are those assets that are distributed through the probate process. In today's video we explore what these assets are and how to convert a probate asset into a non-probate asset.
Read MoreIn today's video we embark on a multi-video journey through probate. This, of course, with a 20,000 foot view of what is probate. In the forthcoming weeks we'll look at various procedures and information about the Minnesota probate process.
Read MoreSometimes when one is anticipating that someone will challenge their will, they want to provide extra proof of “testamentary capacity” – i.e., that they were of sound mind when they signed their will. One way to attempt to do this is to video record the signing of the will. In today's video we discuss the pros and cons of video recording a will, and look at what some of the alternatives may be.
Read MoreMost people don't think about estate planning until they have a kid, a house, some assets, or even until they are retired. But there are some aspects of estate planning that are important for people who are turning 18 and leaving the house or going to college. In today's video we discuss what estate planning is and is not important for someone turning 18.
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