What’s the difference between a will and a trust?
A lot of Minnesotans think that the estate planning process is straightforward and requires nothing more than a will, if anything at all. While a minimal estate plan may be appropriate under some circumstances, the fact of the matter is that you probably need multiple legal vehicles if you want to maximize...
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5 Reasons to Make a Will If You Have Children, – If you have children, you need a will.
You may have heard that it is especially important to write a will if you have children. Here's why: If you die without a will, a court will use state law to make many or most decisions about what happens to your property and about who will take care of your kids....
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Applying for Medicaid in Minnesota
Medicare and Medicaid are two federal programs that help older Americans pay for their medical care, and their names are so similar that many people confuse the two. However, they are different in some important ways.
In this blog post, we will discuss some key points about applying for...
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Planning for your family’s future with a cabin trust
Minnesotans love staying in a cabin by one of our state's many lakes. Around the Alexandria area, there is a booming business in renting cabins to tourists, but many people would prefer to have their own cabins.
Some lucky Minnesotans own cabins that have been passed down from a...
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What is estate planning and why is it important?
Are you confused and stressed by the thought of estate planning? If so, you're in good company. After all, it isn't easy to think about your own mortality, and from a distance, the estate planning process can seem pretty nebulous. That's why this week on the blog we want to take a...
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Seniors Receive Increased Protection From Financial Abuse In The Economic Growth, Regulatory Relief, And Consumer Protection Act
The Economic Growth, Regulatory Relief, and Consumer Protection Act provides seniors with more protection from financial abuse. The Act contains a section that was once a stand-alone bill from Sen. Susan Collins (R-Maine) which is designed to encourage the reporting of elder (age 65 and older) financial abuse witnessed by financial institutions....
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Options For Senior Living Depend On The Level Of Care Needed
As we grow older, senior living options vary widely based on what level of care is required. Available options are tied to the resources a senior has to cover living costs, and vary widely in cost, assistance, and care provided. In addition to budget considerations, seniors must also realistically consider the needs...
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The FDA Approves New Alzheimer’s Drug
The US Food and Drug Administration (FDA) recently approved a new drug under the trademark Aduhelm™ to treat Alzheimer's disease. The drug, Aducanumab, is a therapeutic drug that clinically demonstrates a potential to delay further decline from Alzheimer's disease and is also the first FDA approval for a drug that does more...
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You’re Appointed Trustee, Now What?
A friend of yours, Rose, has asked you to be the trustee of her trust. You want to help, but you're concerned about all that responsibility. You would be managing Rose's property for her and for others whom she names as beneficiaries. You might be paying her bills and taxes, overseeing bank...
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How Does A Special Needs Trust Work?
A trust is set up to manage a person's assets and property, and this trust is overseen by an appointed person. The person or entity who manages the trust is known as the “trustee” and is entrusted with the responsibility of making decisions in the best interest of the person who benefits...
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