On Tuesday, Minnesota voters will decide the fate of a proposed state constitutional amendment banning same-sex marriage. Since the Minnesota Defense of Marriage Act already bans same-sex marriage, some may wonder what will change if the amendment passes. As it turns out, the marriage amendment would have several significant legal consequences. These include: See more ›
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Life Insurance & Minnesota Estate Tax
There are a number of good reasons to buy life insurance, but one of the most compelling ones is to provide for your children in the event that something happens to you before they are old enough to care for themselves. In many cases, even parents who are not particularly wealthy carry $1 million or more in life insurance in order to plan for this relatively unlikely but tragic possibility. See more ›
Posted in Estate Planning
Revocable Living Trusts: Myth vs. Fact
One of the most common myths about estate planning today is that everyone’s estate plan, without exception, should include a revocable living trust. Celebrity personal finance commentator Suze Orman is a particularly prominent spokesperson for this point of view. Of course, Orman is not an attorney. (If she were, she would know better than to give blanket legal advice to people in all 50 states.) She is, on the other hand, the owner of a company that sells a prefabricated estate planning kit, which naturally includes a revocable living trust. See more ›
Posted in Estate Planning
A Surprise Same-Sex Inheritance Ruling
As reported in the Star Tribune and on Minnesota Public Radio, Minnesota’s 4th Judicial District Court issued a surprise decision this week, finding that the state’s Defense of Marriage Act does not apply in probate court. So what does this mean for same-sex couples in Minnesota? See more ›
Posted in Nontraditional Families
Is Your Out-of-State Will Valid?
If you have moved to Minnesota from another state and you already have a will that you made in that state, you may be wondering whether your will is valid in Minnesota. Generally, the answer is yes; the Minnesota courts do recognize out-of-state wills. However, there are a few important things to consider: See more ›
Posted in Estate Planning