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April 2016 Archives

Estate planning provides valuable documents for the future

The most important of the estate planning documents in Minnesota are very much like the most important documents in other states. The important concepts and practices of estate planning thus represent a fairly uniform body of law nationwide. It is highly beneficial in several respects for an individual to go through the process and have the most useful instruments drawn up to cover his or her particular needs and wishes.

Biggest estate plan error is not having one

The word "estate" can be a tricky one for people to get their head around -- perhaps especially in Minnesota. The vast majority of hard working individuals probably don't think of their single family home or apartment, or other personal treasure, as an estate. But by strict definition an estate is more broadly framed. It means the net worth of a person at any given point in time. And it doesn't matter if you are alive or dead.

Treasury's new tax rules could have far-reaching implications

There's still a certain amount of reeling going on in the wake of the decision by Pfizer and Allergan to scrub their merger and acquisition plans. Anyone who is tuned into the business news of the day knows that the $160 billion sale of Pfizer to Allergan got shelved because new rules issued by the U.S. Treasury Department left the latter essentially too small to invert.

Putting our trusts in names of pets comes late to Minnesota

Some readers may remember the headlines when hotelier Leona Helmsley died and famously made her dog, Trouble, heir to a $12 million trust fund. That's something that loving pet owners in Minnesota can't do as part of their appropriate estate planning right now, but that could soon change.

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Dunlap & Seeger, P.A.
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Rochester, MN 55904

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