Boundary disputes between neighbors can arise for many different reasons. In some cases, boundary issues begin with inaccurate information during a real estate transaction. Property owners frequently describe parcel boundaries using landmarks, such as trees, fence...
Elk River Minnesota Legal Blog
What are commingled assets in a divorce?
If you get divorced, the two main categories for assets are marital assets and separate assets. If something is a marital asset, both you and your spouse have a right to it, meaning it must go through property division. If something is a separate asset, it belongs...
3 ways people can address their real estate in an estate plan
During estate planning, testators generally make arrangements for the protection of their dependent family members, such as spouses and children. They also establish beneficiary designations so that specific people inherit the resources from their estate after their...
Should your parenting plan include virtual visitation terms?
These days, people of all ages regularly connect via electronic means. As a result, virtual visitation has become a common component of parenting plans. Virtual visitation refers to using technology – such as video calls, messaging and online gaming platforms – to...
What is a short sale?
Homeowners who can’t afford to continue paying their mortgage may want to try to get out from under it as quickly as possible. One option that some have is to go through a short sale on the home. This means that the homeowner sells the home at a fair market price, but...
3 things to discuss with your family about your estate plan
Contrary to what many believe, talking to your family about your estate plan is typically far better than keeping it all a secret. After all, in most cases, it will affect them as much as you. Here are some of the things you should consider discussing with your...
Preserving generational wealth far into the future
Addressing an aging parent’s estate plans can be challenging for everyone. People have had it drilled into their minds that it’s impolite to discuss money, politics and religion. While avoiding the latter two may still be wise, it’s never a good idea to avoid...
Pros and cons of selling a home ‘as-is’
When selling your home, the conventional path of undertaking repairs and renovations may not always be practical or appealing. An increasingly popular in today's real estate market is the 'as-is' sale. Could this be the right option for you? The benefits of selling...
Can you throw out your estate plan and create a new one?
As you likely know, creating an estate plan is a crucial step in ensuring your assets are distributed according to your wishes. However, as your life evolves, you may need to update or replace your existing estate plan components. Keeping your plan current is wise,...
Is a 401(k) one spouse’s separate property in a divorce?
There are two types of property that spouses have to disclose to one another and possibly the courts when they divorce. Spouses need to prepare inventories accounting for their marital property and also their separate property. Assets that people already owned before...