Trusts & Estate Planning Archives

March 23, 2020 Dunlap Seeger

Parents May Worry About Sibling Conflict When Estate Planning

Having children can be the biggest joy of many Minnesota residents’ lives. Of course, siblings do not always get along, and it can often be difficult for parents to make decisions that will be good for everyone. As a result, some parents may struggle with estate planning. It is not uncommon for sibling rivalry to affect estate plans and the probate process. Some siblings may fight over assets or have other disputes that could lead to probate litigation. Parents who want to More +

February 28, 2020 Dunlap Seeger

Succession Planning for Small Businesses is Important

Family-run business owners have to make sure that they have a plan for what’s going to happen with the company if they pass away. Part of this has to do with the estate plan that they set up. Having everything in order with their personal estate plan can help to provide for their family members, which may make it easier for the business’ staff to focus on running the company. It is important to get your plan in place as More +

February 25, 2020 Dunlap Seeger

Estate Planning After Welcoming a Child is Vital

Welcoming a child into a family changes life completely. Whether through birth or adoption, changing the family dynamic in such a way warrants important planning for the future. As a result, new parents in Minnesota may want to consider starting estate planning or updating their already-existing estate plans. One major estate planning document that new parents may want to create or update is a will. Though a will is an important planning document for anyone, it is especially important for new parents More +

February 11, 2020 Dunlap Seeger

Outdated or Missing Information Can Hinder Estate Planning

Creating a will is a useful first step to creating an estate plan. However, if Minnesota residents stop their estate planning process there, they may miss out on some useful tools that could help them address more aspects of their lives and estates than just their property. Plus, if individuals took a set-it-and-forget-it approach to their wills, it is possible the information is outdated. Certainly, a will can have benefits that other estate planning tools cannot. For example, parents can use More +

February 03, 2020 Dunlap Seeger

Avoid These Simple but Costly Estate Planning Errors

Wanting to do what is best for one’s family is not always easy. Some Minnesota residents may think that they have done the right thing by creating an estate plan for their loved ones to follow, but too many people make errors while estate planning. As a result, families may not have as smooth a probate process as a loved one may have intended. One issue that some people may overlook is the expenses that can come along with closing an More +

January 22, 2020 Dunlap Seeger

Discretionary Trusts Can Be Useful When Estate Planning

Many Minnesota residents may want to use their estate plans to protect assets for beneficiaries. Fortunately, trusts are one estate planning tool that can easily achieve this goal. In particular, discretionary trusts can ensure that beneficiaries are not at unnecessary risk of losing their assets. Assets in a discretionary trust are managed by another person. As the name suggests, the assets are handled at the discretion of another party. As a result, the beneficiaries cannot demand a distribution and cannot tell the More +