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December 2013 Archives

Caring for special needs children through estate planning

Many St. Paul parents understand the importance of making sound decisions in raising their children. This may be particularly true for those who have a special needs child, as those parents face a different set of challenges and planning.

Will St. Paul kids take care when the time comes?

There is nothing more invaluable to many St. Paul residents than their children. Understandably, then, it can be difficult for individuals to imagine life for their children after they are gone, particularly for younger children who need to be taken care of until the children become adults. While these thoughts are never easy, it is essential that individuals take the time to consider what would happen to their children if something were to happen to them.

Minnesota residents seek to lower their inheritance tax burden

Saint Paul residents work hard to earn a living and provide for their families. Many would like to not only provide for their family during their life, but after death as well. However, there are certain obstacles that can complicate these desires, such as the amount of inheritance tax that may be assessed against a person's estate.

Estate planners shouldn't forget power of attorney considerations

Estate planning can be difficult. Not only does it force us to consider topics we do not like to think about, like death, but it can also be fraught with legal complexities. While these issues may be intricate and confusing for many, they are vitally important. Failing to plan an estate properly can lead to unwanted consequences. Money may end up in the hands of someone who does not deserve it, and the estate planner did not intend to receive it. To avoid these unwanted outcomes, individuals should seek legal help addressing several legal issues.

Ways to help ensure inheritances are not wasted

Those deciding how to leave their estate to their heirs may be concerned how the estate will be handled once it is passed down. This is a legitimate concern, as stories of inheritances squandered circulate in the media. In fact, a study conducted by WealthCounsel found 35 percent of people are developing their estate plan in such a way as to avoid reckless financial behavior by their heirs.