What is a probate? Probate is the court-supervised distribution of assets by an individual. When a person owns property in their own name at the time of their death, it is likely that a probate will be required. Probates can be simple or complex depending on the type of property owned or the value…
First it’s important that you and your family take time to grieve the loss of your loved one. Financial matters can wait a couple of weeks without any repercussions, so wait until you are ready. Also, don’t try and handle everything all on your own if you don’t have to. Other family members, friends and…
Minnesota – the land of 10,000 lakes – and according to data from the Minnesota Department of Revenue, about 122,000 cabins and recreational properties. Thousands of families flock to their cabin in the summer months and want to keep the tradition alive for generations to come. So how do you keep your cabin in the…
The estate planning process is a necessary step in making sure your assets and property is distributed as you wish. Congress has made changes to estate planning through the back and forth nature of estate taxes. Yet again, in 2013 the estate tax is going to change again. This can be frustrating to many estate…
Giving away millions isn’t what it used to be for wealthy Americans… In 2013, the federal gift-tax exemption rate will only allow citizens to give up to $1 million in his/her lifetime tax free. Up until then, Americans are allowed to give up to $5.12 tax-free. Also included is a rise from 35% to 55%…