In previous generations, grandchildren might have inherited a dinner plate, a piece of artwork, or jewelry from grandma and grandpa. But given the current costs of post-secondary education and home ownership, more young adult beneficiaries are seeking to receive a financial inheritance from their grandparents in lieu of a sentimental inheritance. For many of our […]
The 2025 Word of the Year, according to Dictionary.com, was “6-7.” My three teenage children have tried unsuccessfully to explain the meaning of “6-7” to me. The phrase appears to mean, “so-so” or else, “maybe this or maybe that.” Perhaps an inside, self-deprecating joke among Generation Alpha, the term is used as “non-sensical and playfully […]
They say that a picture is worth a thousand words. In this month’s update, I share two pictures to illustrate two important Minnesota estate tax planning strategies. In general, I try to limit the length of my monthly advisory updates to 500 words. For purposes of this month’s advisory update, I hope that each of […]
On July 4, President Trump signed into law the “One Big Beautiful Bill Act” of 2025. The legislation is 1,018 pages in length, and therefore certainly can be described as big. There is only one way in which this voluminous bill impacts estate planning. Effective January 1, 2026, 1 the estate and gift tax exemption […]
Spring is finally here. The grass is green, the trees are budding, and Mother’s Day is this Sunday. It also means that my portable television can now be transported outside, where I can enjoy streaming baseball games by our backyard firepit. My portable television is more useful to me now, in May, then it was […]
In the iconic comic strip, Peanuts, Charlie Brown is repeatedly invited by Lucy Van Pelt to kick a football held to the ground by her, ostensibly ready for Charlie’s strong kick. Each time, the football is withdrawn by Lucy at the last moment, causing Charlie to whiff on his kick, leaving Charlie on the ground, […]
The late comedian Bob Newhart was famous for his fictional one-sided telephone comedy routines. In the spirit of the Newhart one-sided telephone call, imagine the following one-sided call, heard from the perspective of a father calling his adult son. Hi Son. Yes, Dad here, how are you? Great. Good to hear. Hey, listen, my attorney […]
The Veritage Law Group recently enjoyed an “escape room” experience as part of our annual Christmas Party. Our group “escaped” the room after successfully solving the various riddles. While none of us are particularly adept at such riddle games, we regularly advise clients attempting to “escape” estate taxes on behalf of their children at death. […]
Our family has been amazed by the athleticism currently on display in the 2024 Summer Olympic Games. While the precise movements differ between events, one attribute common among them is that their legs or arms (or both) move much quicker than mine. To win a medal, an athlete must move at least as rapidly as […]