The inheritance that family members, friends and other loved ones receive from an estate can provide comfort while they grieve. The inherited property can also serve as a way to remember the person who passed. After someone dies, their loved ones may inherit most of...
Elk River Minnesota Legal Blog
What if your spouse transfers marital assets during divorce?
If you’re going through a divorce and notice your spouse suddenly transferring money, selling off property or draining accounts, don’t ignore it. Such actions may be aimed at reducing what you get when it comes to dividing everything up. Under Minnesota law, both...
Irrevocable trusts can facilitate asset transfer after your death
Getting your estate plan in order as early as possible in your adulthood is an important task, but it’s one that can be daunting. Taking the time to carefully consider how you want each component in the plan set can help you to ensure that it accurately reflects your...
How do inspection contingencies protect home buyers?
Purchasing a home is a major investment, so you should know exactly what you’re getting into when you buy the property. In most real estate deals, there are contingency clauses that set a way for the buyer to back out if the home inspection shows problems. ...
3 reasons to challenge a will’s validity
The probate process gives families and beneficiaries a chance to carry out a loved one’s final wishes. However, there are times when the contents of a will raise serious concerns. While most wills move through probate without issue, courts recognize that errors or...
How to modify a child custody order in Minnesota
If you are thinking of modifying a child custody order, Minnesota law allows you to request a change under specific circumstances. Minor disagreements with your co-parent or schedule conflicts usually aren’t enough to warrant a modification. You must demonstrate a...
Who should serve as trustee of a special needs trust?
Establishing a special needs trust for a child or other loved one with a debilitating medical condition is a clever estate planning move. When properly structured, special needs trusts can provide years of financial augmentation for those incapable of independently...
What happens to the marital home in divorce?
Married couples may opt to purchase a home during the course of their marriage. They may build their lives in this home and possibly raise their children there, but they probably never believed that the home they loved could lead to legal issues. Once a married...
How would an executor breach their fiduciary duty?
An executor is responsible for settling a person’s estate after they pass away. How would someone know that an executor of an estate will follow the deceased’s last wishes? Every executor is bound by a fiduciary duty, meaning they must act in the best interests of the...
Why are gray divorce rates going up?
Gray divorce typically refers to couples at a later stage in their lives. For instance, some reports show that the divorce rate for couples 65 and older has tripled in recent years. These divorce cases are often referred to as gray divorce. Interestingly, couples in...