News & Resources

Many residents of Minnesota erroneously assume that they have no need for a will or estate plan because they do not have large sums of money or excessive assets. If you are one of those people, you may want to consider the many benefits and protections that are offered to you with a will. These are not just for the individual with the property, but also for their heirs and those who inherit their wealth after they die. If you have children who are considered minors, a will is especially important. An estate plan does more than determine where your money goes. It can also determine what happens to your minor children if you die suddenly. In your will, you will choose the legal guardian who takes [...]

We have covered an array of legal topics related to estate plans, but sometimes the process of setting up an estate plan or making changes to an existing estate plan can be difficult for other reasons. For example, some people may experience strong emotions as a result of estate planning, or they may be going through other issues in life which can affect their ability to work through matters related to estate planning. From anger and depression to anxiety and even fear, there are many different emotions people may experience and it is pivotal to work through these difficulties carefully. Some people may be stressed out about the idea of creating an estate plan. Or, they may have a great deal of anxiety over trying [...]

With so many components working together to form a well-rounded estate plan, you are questioning where to begin. Developing your plan will take time and is a process that you should carefully complete to guarantee that your plan is completely customized to meet the needs of your family and your lifestyle. At Dunlap & Seeger, we are committed to helping people in Minnesota recognize the importance of establishing an estate plan for their posterity. Writing a will is one of the most notable elements of creating an estate plan. This document is a place where you can make designations about who you would want to care for any dependents you have, as well as who you wish to inherit specific assets you may have that hold sentimental value to you [...]

With so many components working together to form a well-rounded estate plan, you are questioning where to begin. Developing your plan will take time and is a process that you should carefully complete to guarantee that your plan is completely customized to meet the needs of your family and your lifestyle. At Dunlap & Seeger, we are committed to helping people in Minnesota recognize the importance of establishing an estate plan for their posterity. Writing a will is one of the most notable elements of creating an estate plan. This document is a place where you can make designations about who you would want to care for any dependents you have, as well as who you wish to inherit specific assets you may have that hold sentimental value to you [...]

If you are one of the many people in Minnesota who has had an estate plan in place for a while, you might want to make now the time you re-evaluate your plan. One reason that makes this a great time to review and potentially update an estate plan is the new tax law that took effect earlier this year. As reported by Forbes, the Tax Cuts and Jobs Act affects a lot more than just your annual federal tax return and income tax payments. Your estate plan can have a significant impact on your current and future tax liability as well. Because the new law essentially reduces the benefit of itemizing deductions in what had become the traditional sense, it may be wise to investigate other [...]

As a Minnesota resident, you may be wondering what kind of state laws affect end-of-life decisions. If you want to ensure you have control over your medical care, you may follow the state’s guidelines for creating a health care directive. If you are over 18 years of age, Minnesota law allows you to make such a document, and the state even provides forms to make the process simpler. According to the Minnesota Attorney General’s Office, a health care directive contains directions and details about medical care. By creating one, you may ensure your wishes regarding medical care are clear. This may be especially important in situations where physical or mental health issues could prevent you from conveying your health care decisions. There are numerous subjects that [...]

Creating a will, naming and assigning assets to named beneficiaries is not something most Minnesota residents enjoy doing. While having a will is important for everyone, it is essential if you have a disabled child. At Dunlap & Seeger, P.A., we often assist clients in setting up a trust that ensures their child is taken care of after the parent passes away. According to U.S. News & World Report, families frequently establish a supplemental needs trust, also called a special needs trust, while the parents are still alive. By choosing this estate planning vehicle, a disabled individual can receive the benefits from the estate without jeopardizing any government aid, such as Medicaid, food stamps or SSI. This is crucial if your child has complex medical problems. The trust must [...]

When people first sit down to discuss their estate plan, they may be overwhelmed with how many options they have and how many components there are to planning an estate in Minnesota. However, if they take things slowly and take adequate time to articulate their end-of-life wishes and desires, they may be more productive at putting together a well-rounded estate plan that will give them confidence and peace of mind. According to Ameriprise Financial Inc., there are several considerations that people should take into mind before making any designations on their estate plan. Some of the important aspects they should think about include the following: ~The number of their current assets and the potential for growth. ~The amount of debt they have accumulated and their ability [...]

Having a baby is a happy event for most couples, but it is one that comes with big responsibilities. One thing that many new parents might not want to think about is what will happen to their children if both parents pass away. While it is a horrifying thought, taking the time to make plans in case this happens can give you peace of mind to know your children have the best chance to continue on safely after you pass away. Your estate plan is the key to taking care of your children if something happens to you. The plan should be comprehensive so that it covers many different aspects of the children’s lives. If you are one of the almost 64 percent of Americans without [...]

Once you have finalized your estate plan in Minnesota, you breathe a breath of relief. A burden has been lifted and you suddenly feel at ease about being able to provide direction and comfort for your family when you pass away. At Dunlap & Seeger, we have helped many people with the development of an estate plan that meets their personal needs. One of the important aspects of having an estate plan is maintaining it and keeping the components up-to-date. Leaving it to sit on a shelf until it is needed is risky should your life’s circumstances change. For example, perhaps one of the heirs you have listed has passed away. Or maybe familial differences have altered your list of beneficiaries. Other changes in your life may leave [...]

When people recognize a need to begin planning their estate, they may be instantly overwhelmed with the breadth of important decisions that are awaiting them. However, when people in Minnesota put in adequate time learning about the purpose and function of an estate plan, they may be much more confident and effective in putting together a comprehensive document that accurately depicts their final wishes. Because estate planning is such an involved process that addresses many key issues including distribution of assets, allotment of property, guardianship of minors and even health care or financial proxy information, mistakes can undoubtedly be made. Serious mistakes, however, can compromise the effectiveness of a person’s plan so it is critical that they avoid errors that could put them at risk. Forbes suggests [...]

Imagine you’re planning your estate, trying to decide how you want to distribute your assets after you die. This money and other property is the product of a decades-long and prosperous career. You’ve only managed to hang onto it because you’re frugal and wise about managing money. In fact, everyone in your family is excellent at conservatively managing their money, too — except for your daughter. She’s a free-spirited, self-sabotaging “spendthrift.” In other words, if you give her a few hundred dollars, she’ll spend it on something frivolous before it gets in her hands. All that being said, you love her from the bottom of your heart and you want to treat her the same as everyone else in your estate plan. You’re just worried [...]