“Son, we have decided that your brother is going to lead our family company.” Those of us who are “Minnesota nice” have a difficult time initiating difficult conversations, especially with family. For example, have you and your spouse had conversations about his or her wishes to remarry if you die? (without naming names, of course). […]
“How Much Rent Can I Legally Charge my Mother-in-Law?” Even before the outbreak of COVID-19 last March, I was interacting with an increasing number of clients considering multi-generational living arrangements. According to an article last week in the Wall Street Journal, the incidence of these multi-generational living arrangements, defined as multiple adult generations living together […]
“Golf is a game whose aim is to hit a very small ball into an even smaller hole with weapons singularly ill-designed for that purpose.” Winston Churchill. As a golfer, I have come to realize, through many poorly-played rounds, that the use of the correct “tool” (that is, club selection) is of critical importance in […]
“The only thing constant in life is change.” Heraclitus, Greek philosopher. Ahead of the upcoming November election, this month’s update provides a brief overview of those policy positions of Joe Biden and Donald Trump that impact estate planning decisions. I am by no means attempting to endorse a candidate, to or to predict the outcome. […]
How are you going to remember these tumultuous days of the 2020 coronavirus pandemic? My three kids were each given a writing journal by my mother, who encouraged each of them to write about daily life in the midst of a pandemic, both for themselves and for future generations. Earlier this week, I also helped […]
Over the past few weeks, our firm has continued to operate as normal. We have hosted face-to-face meetings in our office, as well as video calls, telephone calls and emails. We have, however, observed an increase in the number of new or existing clients who are addressing while in a “self-quarantine” or “shelter in place” […]
Everyone completing an estate plan must give consideration to the individuals (or entities) making decisions on your behalf in the event of your incapacity or death. If you are married, you would likely name your spouse as the first “agent.” However, you would still name someone to serve if you (or, if married, both you […]
Congress and President Trump recently enacted legislation that, while providing some candy in the average taxpayer’s Christmas stocking, also includes a small lump of coal. This post (i) makes you aware of the recent legislation that marks the official death of the so-called “stretch IRA,” and (ii) provides the relevant federal and Minnesota state transfer […]