How Minnesotans Who Move Out of State May Still be Taxed in Minnesota (Part 2)

minnesota skyline

(Part 2 of 2) By Natalie A. Roberts The State of Minnesota imposes both income taxes and estate (sometimes called “death”) taxes. In Part 1, we looked at income taxes, which are state-level taxes imposed on the taxable income of a Minnesota resident or part-time resident. This article will briefly examine the issue of residency […]

2021 Tax and Estate Planning

house next to calculator

The media has reported widely upon the need to provide funding for governmental programs, whether those stemming from the COVID pandemic, those needed to address climate change, or those focused on improving our nation’s aging infrastructure. Washington is actively seeking ways to pay for such programs, and to reduce (or at least not increase) the […]

How Minnesotans Who Move Out of State May Still be Taxed in Minnesota (Part 1)

minnesota skyline

The State of Minnesota imposes both income taxes and death taxes. This article will briefly examine the issue of residency for purposes of state-level income tax. Part 2 will look at state-level estate taxes (also known as “death taxes”) imposed on the taxable estate of a decedent.   Income Tax   Most people believe that […]

What Is a “Land Trust”?

woman writing a contract with a house in the background

Before becoming an estate planning attorney, I used to hear the term “land trust” and wonder about it. The public often misunderstands the nature of this type of trust and its purposes, attributing different benefits to such a trust than those actually conferred. A land trust, which is a trust owning real estate, really has […]

Why NOT To Use Target Ages in Your Trust

Why Not To Use Targeted Ages In Your Trust

A well-crafted estate plan accomplishes multiple objectives. First, the plan ensures that your property and money (your “assets” or “estate”) go to the persons you want, transfer in the way that you want, and are received at the time you think best for your beneficiaries. Secondly, a solid estate plan will include strategies for asset […]

Three Tips for Talking About Your Estate Plan During the Holidays

The holidays are here, bringing the joyous season of gathering with family and loved ones into full swing. It is the time to slow down, get caught up with loved ones, and enjoy the family, and experience quality time around the dinner table. It is also a great idea to take this opportunity to review […]

Cryptocurrency and Estate Planning: What You Need to Know

Cryptocurrencies have been making headlines as of late, with more and more investors wanting in on this digital currency. Cryptocurrencies are attractive to some of us because they are unregulated, decentralized, and anonymous. While secrecy is useful in some areas of life, when it comes to estate planning it can lead to disaster. Indeed, your […]

5 Common Estate Planning Mistakes, You Wish Your Parents Knew

estate planning mistakes causing angst

Sadly, most Americans are indifferent to estate planning – at best – or completely ignore the issue – at worst. When it comes to estate planning, however, there are just some mistakes that you cannot afford to make. Below are five of the most critical estate planning mistakes. Not having any estate plan. This is […]

Liability Planning Tips for Physicians

a doctor needing liability insurance

You probably know that the practice of medicine is a profession fraught with the risk of liability.  The risk is not limited to medical malpractice lawsuits! It’s the entire scope of business risk, including employment-related issues, negligent or dishonest business partners and employees, contractual obligations, and personal liabilities.  Unfortunately, in our litigious society, physicians are […]