A spousal lifetime access trust (SLAT) is an irrevocable trust benefiting the donor’s spouse and children. Through a SLAT, a donor may reduce a spouse's exposure to estate taxes at death by taking advantage of the gift tax exemption. In 2015 the applicable federal exclusion amount for gifts is $5,530,000. (IRS, What’s New-Estate and Gift
Minnesota Estate Planning Attorney
A Minnesota estate planning attorney, sometimes called a Minnesota trust attorney or Minnesota will attorney, can help you establish a will, trust, and other legal documents to accomplish your objectives and minimize taxes through thoughtful estate planning. We help clients plan to distribute and dispose of their property according to well-prepared plans.
Minnesota Estate Planning
Unfortunately, a lifetime of earnings can be wasted on unnecessary taxes and fees through poor estate planning (or no estate planning). By meeting with a Minnesota estate planning attorney, your attorney an analyze your situation, identify your goals, and prepare a customized estate plan for you and your heirs.
Only through careful planning can you ensure that your assets are distributed according to your wishes. For most people, this means preparing a plan to transfer personal property to family members or charitable causes without delay or unnecessary expense for the recipients of assets after death.
Minnesota Estate Planning Attorney Services
Our experienced estate planning attorneys provide the following professional services
- Assessment consultation
- Health Care Directive (living will, advance directive, instruction directive)
- Power of attorney
Contact us to schedule an appointment with a Minnesota estate planning attorney.
Minnesota’s New Power of Attorney Form as of January 1, 2014
A power of attorney is written authorization allowing one to represent or act on another’s behalf in private affairs, business or legal matters. The person that authorizes the power is the principal and the person authorized to act is considered the agent or “attorney-in-fact.” A “power of attorney form” is a legal form, but not
2013 Minnesota Estate & Gift Tax Legislative Changes
Tax Type Statute Brief Description Effective Date Estate Tax 289A.10 Sub 1 Estate Tax: Modifies the filing requirements for the estate tax to provide that federal adjusted taxable gifts made within 3 years of decedent’s death must be added to the value of the federal gross estate to determine if the estate exceeds the $1