Inflation is the decline of purchasing power of currency and the general increase in prices of goods and services over time. This means that a unit of currency buys less today than it did in years past. Over the last few years, the inflation rate has...
It is a joyful moment in a parent's life when their child turns 18; they graduate high school, go off to college, and make plans for their future. It is also a time to consider the legal aspects of parenting an adult child.
What happens when your child turns...As an administrator or executor of an estate, you have many responsibilities to fulfill. You can make these responsibilities far less stressful and more straightforward by keeping thorough records of the estate’s finances and your actions during probate.
Legal and Financial Responsibilities in ProbateAn...
Managing an estate can feel overwhelming, but the process becomes even more complex when assets are spread across different states. Each state has its own laws, and transferring property or handling accounts outside the home state often requires additional steps. Whether it’s a cabin in Wisconsin or investment properties in Florida, dealing...
For individuals and families focused on preserving wealth across generations, dynasty trusts are an ideal estate planning tool. Designed to protect assets and provide financial security to your descendants, these trusts offer a way to bypass common challenges such as estate taxes, lawsuits, and financial mismanagement.
Mullen Law...
In times of economic uncertainty, ensuring that your estate plan is resilient is extremely important. Whether it’s a recession, inflation, or market volatility, unforeseen economic changes can affect the value of your assets and the well-being of your loved ones. There are strategic steps you can take to safeguard your estate and...
High-net-worth individuals (HNWI) face unique financial challenges when it comes to protecting their wealth. With significant assets comes the increased risk of lawsuits, creditor claims, and other financial threats. A comprehensive asset protection plan is essential to safeguarding wealth and ensuring long-term financial security for future generations.
Mullen...
Certain life events are crucial triggers for contacting a Minnesota estate planning attorney to create or update your estate planning documents. Estate planning is not just for the wealthy; it is a critical step for anyone wanting to ensure their wishes are followed and their loved ones are cared for after they...
In today’s digital age, our lives have transcended the tangible. Photos, letters, and financial accounts, which were once stored in drawers, file cabinets and safes, are now often saved in the cloud or on hard drives. As our digital footprints grow, the importance of including digital assets in estate planning becomes...
One of the most important considerations when writing a will or trust is who will inherit your estate. The process of selecting a beneficiary or beneficiaries for your assets is a personal and emotional process. There are many factors to consider:
It might seem tempting to try to save money and do your own estate planning. However, using an attorney for estate planning in Minnesota has many advantages over a do-it-yourself (DIY) approach. Here are some reasons why you should consider using an attorney:
Complexity of Laws