People choose their beneficiaries based on their personal relationships and obligations. People with resources often name their spouses, children and grandchildren as their beneficiaries. Friends and other extended family members may also be beneficiaries of an...
Some estates have beneficiaries. The person who died established a clear estate plan naming specific people to inherit their property. A large portion of all estates transfer assets to heirs instead. The person who died did not leave testamentary documents, and...
People drafting wills often have one or two specific priorities. Parents may want to ensure there is a guardian to care for their children if they die. Successful adults often want to control who inherits their property. They may focus on allocating businesses, real...
When a company goes through a merger, it sometimes creates redundancies among the staff. There are often overlapping roles. For instance, two businesses may both have needed a front office staff or an HR manager when they were operating independently. But if one...
One of your duties as an appointed personal representative of an estate is communicating with beneficiaries. You need to keep beneficiaries adequately informed about the estate and the probate process. Poor communication can lead to your removal, as it can be viewed...
You can make an estate plan as young as 18 and never touch it again in your life, should you choose. Yet while estate plans aren’t subject to any official expiration date, their usefulness certainly can go out of date. Regularly reviewing your estate plan and updating...
Serving as a trustee in Minnesota is both an honor and a serious legal duty. You must manage property and funds, follow the trust’s terms and act in the best interests of the beneficiaries. Mistakes can expose you to personal liability. Still, most issues are...
Mergers are complex business transactions wherein two companies combine their operations. The process can be beneficial when it is successful, but mergers can easily fail without adequate preparation. Countless possible hurdles exist for business leaders attempting to...
A trustee accepts a position that may inspire years of complex obligations. They have a responsibility to manage trust resources and distribute them as outlined in the trust documents. They receive compensation from the trust itself, but they may face regular demands...
People drafting estate plans often want to provide support and meaningful inheritances for their close loved ones. Charitable giving can also sometimes be a priority. People may want to provide resources for causes that are dear to them. They may even want to...