Gifting Opportunities During an Economic Downturn

May 2020

While the current COVID-19 environment has depressed stock prices and likely the value of many businesses, there are potential opportunities for those looking to shift assets to the next generation. In Minnesota, the current state estate tax exemption amount is $3 million per person and the top marginal estate tax rate is 16%. The Minnesota estate… Read more >

Paying Attention to Tax Filing and Payment Deadlines Extended Due to COVID-19 – Trusts & Estates Edition

April 2020

The IRS and Minnesota Department of Revenue have announced extensions to certain tax return filing and tax payment deadlines due to the COVID-19 pandemic. Generally, these deadlines mirror each other, but they sometimes diverge. Additionally, the Minnesota Department of Revenue will almost always revise a particular Minnesota tax filing and payment deadline only after the IRS announces… Read more >

Curbside Signings + Other Estate Planning Options During COVID-19

April 2020

Estate planning is proving to be a topic on everyone’s mind during the uncertainty we are facing today as a global community. If you have been putting off completing or updating your estate plan, it is undeniably the time to bring it from the bottom of the list to the top and FMJ’s Trusts & Estates attorneys are… Read more >