Message from the Chair
I hope you have been able to enjoy our early spring weather. It has been an active year for the Section. Susan Link and the other Wills for Heroes volunteers continue their good work providing First Responders with Wills, Health Care Directives and Powers of Attorney. To support this wonderful program, please see the MSBA website for instructions on how to donate your time, talent and/or treasure.
Peter Hatinen and Drew Baese have led our legislative initiatives, including drafting and testifying on behalf of bills making technical changes to the disclaimer act and the qualified farm and small business exemptions to the Minnesota estate tax.
Chris Hunt and his committee continue their work on the Uniform Trust Code. Currently, preparations for the Probate & Trust Annual Conference are under way. The Education Committee and Minnesota CLE have prepared several timely and interesting seminars for this year’s Conference. We hope to see you there. Please note the Annual meeting of the Section will occur, as usual, during the Conference.
The Section Council appreciates all of the input that we have received from Section members. We hope that you will continue to let us know if there are issues that the Section Council should be working on to help you to improve your practice and the services you provide to your clients. Tom Rauenhorst
The Benefits of Utilizing Corporate Trustees in Your Estate Plan
By Adam D. Cox
Selection of the appropriate trustee is often an emotional decision. While many grantors may feel that naming someone outside the family to act as trustee may be seen as a “vote of no confidence” for their family, they should instead view that decision as both loving and prudent. Simply put, when a grantor names a corporate trustee to administer their trust, they chose to relieve their loved-ones of a significant burden. Read more...
PRIMER FOR ATTORNEY-CLIENT COMMUNICATIONS DURING THE COURSE OF ESTATE PLANNING
By Rodney J. Mason, Esq. and Kimberly A. Mason, Esq.
The attorney-client privilege is a bedrock of our relationship with our clients. Without the privilege our ability to effectively and completely represent our clients’ best interest is diminished. The fundamental nature of the attorney-client relationship makes it paramount for each of us that we identify who our client is, that we recognize the limitations of the privilege and that we take steps to preserve it. The attorney-client privilege operates somewhat differently in the context of estate planning.
Adventures in Portability
By John R. Bedosky
TRA 2010 – In General
On December 17, 2010, “The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” (“TRA 2010”). The 2010 tax act reinstated the estate and generation skipping transfer tax (hereafter GST) for 2010. They are retroactive to the beginning of 2010 and continue in effect for estates of decedents dying or generation skipping transfers made in 2011 or later years, had EGTRRA not been enacted, but at lower rates and with higher exemptions. However, the extension and all changes in the 2010 Act expire again at the end of 2012, again leaving uncertainty as to the tax law applicable thereafter. Read more...
Wills for Heroes Update
Currently the Wills for Heroes has served over 5500 first responders throughout the state of Minnesota. The program was created by Anthony Hayes, an attorney in South Carolina. Shortly after September 11, 2001, Anthony sent an email to the City of Columbia Fire Department asking what lawyers could do to help that department. The program is now in 24 states. Read more...
If you have any questions about the publication or would like to submit an
article for a future issue, please contact Chad
Clients and Diminished Capacity Issues CLE
May 2, 2012
11:30 - 1:00 p.m.
Dorsey - Minnesota Room
Probate and Trust Conference and Annual Meeting
June 4-5, 2012
St. Paul RiverCentre