Love is in the February Air

February 2017

February is generally known as the month of love, and it had me thinking about marriage. So, I hopped onto Urban Dictionary* to see how others define it. Among the traditional definitions, I found a few gems such as “the number one cause of divorce” and “the most successful wealth transfer scheme ever invented.” Now,… Read more >

Changes to Estate Tax Exemptions 2017

November 2016

Annual Exclusion for Gifts As of January 1, 2017 the annual exclusion amount for gifts will stay at $14,000. This means that individuals can gift up to $14,000 to any person without incurring a gift tax or having to make any required filing. The amount in excess of the $14,000 will simply reduce the federal… Read more >

Lessons to be Learned from Celebrity Estate Planning Miscues

April 2016

The recent death of Minnesota music legend Prince Rogers Nelson, known to the world simply as Prince, brings to the forefront the importance of proper estate planning to ensure that you ultimately control the disposition of your estate. On Tuesday of this week, Prince’s sister, Tyka Nelson, commenced a probate proceeding by filing a petition… Read more >

Estate Planning for New Parents

March 2016

New parents estate planning often falls toward the bottom of people’s “to-do” lists.  This is especially true for young adults and people who find planning for incapacity or death to be unsettling.  If you have put estate planning off, regardless of your reasoning, now is the time to do it; particularly with estate planning, sooner… Read more >

Changes to Estate Tax Exemption Amounts

January 2016

Below is a summary of the Minnesota estate tax exemption and federal estate and gift exemption amounts for 2016. Please let us know if you have questions regarding the status of the laws. Minnesota Estate Tax Exemption As of January 1, 2016, the Minnesota estate tax exemption amount has increased to $1.6 million, up from… Read more >