Peace of Mind Planning with Yanowitz Law Firm

It sounds simple. Just add your child’s name to your house so it avoids probate. But in Minnesota, that shortcut can create serious legal, tax, and financial consequences that many families do not discover until it is too late. In this episode, we explain what really happens when you add a child to your deed, including loss of control, exposure to your child’s creditors or divorce, gift tax report...

Property taxes can be one of the largest expenses for Minnesota property owners, yet many people don't realize how the classification of their property can significantly impact their tax rates. In this episode, we discuss the importance of ensuring your property is properly homesteaded and how rural property owners can benefit from special classifications like Green Acres and Rural Preserve. L...

Many married couples assume that owning their home jointly is all the estate planning they need. After all, it automatically passes to the surviving spouse, right? In this episode, we explain why relying on joint ownership alone can create costly problems, including probate after the second death, Minnesota estate tax exposure, long term care risks, and unintended consequences in blended families....

Creating a trust is an essential part of your estate plan, but in Minnesota, it’s critical to properly transfer your real estate into the trust to ensure your plan works as intended. In this episode, we explain two tools commonly used in Minnesota: Quit Claim Deeds and Transfer on Death Deeds. Learn how each one works, when they are best used, and the potential pitfalls to watch out for. Contact u...

Gifting real estate to a loved one can seem like a generous decision, but it can have unexpected tax consequences. In this episode, we discuss the tax implications of gifting real estate in Minnesota, including federal and state gift taxes, capital gains, and estate planning strategies. Learn how to avoid costly mistakes and make informed decisions for your family’s future. Contact us to explore w...

Family disputes can turn an already emotional time into a costly, drawn-out legal battle — but the right planning can prevent it. In this episode, Yanowitz Law Firm explores how thoughtful estate planning can reduce conflict, protect relationships, and bring clarity to even the most complicated family dynamics. From using neutral fiduciaries to drafting detailed instructions to leveraging trusts f...

Planning your estate isn’t just about bank accounts and real estate — it’s about the meaningful things that tell your story. In this episode, Yanowitz Law Firm breaks down how to protect the unconventional parts of your legacy: artwork, rare collections, intellectual property, and even your pets. From vintage guitars and family heirlooms to beloved companion animals, Alec explains why these overlo...

If something happened to you today… do you know who would care for your children tomorrow? In this episode, Yanowitz Law Firm walks through one of the most vital — yet most often overlooked — parts of estate planning: legally naming a guardian for your kids . We explain what actually happens when no guardian is named, including how courts make the decision, why it doesn’t automatically go to famil...

A lot of married couples assume Minnesota’s estate tax exemption works the same way as the federal rules—meaning you automatically get two exemptions as a couple. Unfortunately, Minnesota doesn’t work that way. If the first spouse dies and everything passes directly to the surviving spouse, the first spouse’s Minnesota estate tax exemption may be lost entirely. In this video, we explain why that h...

Minnesota has a “3-year pullback” rule that can catch families off guard. If someone makes a large gift within three years of their death, Minnesota may treat that gift as if the person still owned it at death—meaning it can be pulled back into the taxable estate for Minnesota estate tax purposes. In this video, we break down what the 3-year pullback is, why it exists, and what types of gifts it t...

A SLAT, short for Spousal Lifetime Access Trust, is a popular strategy that allows married couples to make a large lifetime gift while still keeping indirect access to those assets through the beneficiary spouse. In this episode, you’ll learn how a SLAT works, why affluent families use them, and what tradeoffs to consider before setting one up. A SLAT is created when one spouse transfers assets in...

Many couples worry about what could happen after the first spouse dies, especially if the surviving spouse later remarries. This episode explains how remarriage can unintentionally change where your money ends up and what you can do to protect your assets so they ultimately stay with your children and your family bloodline. It walks through a common concern: even if spouses agree on a plan today,...

Many families build an estate plan assuming their children will outlive them, but life does not always work out that way. This episode covers an important topic people often overlook: what happens if your child passes away before you do, and whether their spouse should inherit their share. It explains key questions to consider, including whether the gift to a son-in-law or daughter-in-law should b...

There are a few practical steps you can take during your lifetime that can make estate administration much easier for your family. This episode walks through three effective ways to simplify your estate and reduce stress, expense, and confusion after you are gone. First, it explains why consolidating bank and investment accounts can make a big difference. Fewer accounts mean less paperwork, fewer...

Many people assume that once they move out of Minnesota, they are no longer subject to Minnesota estate tax. In reality, that is not always true. This episode explains how non-residents can still owe Minnesota estate tax if they continue to own certain types of property in the state. You will learn how Minnesota looks at tangible property located in the state, such as real estate and certain perso...

Life changes, and your estate plan needs to be able to change with it. This episode explains when and how you can update your will or trust, and the proper legal steps to do it correctly. You will learn the difference between updating a will through a codicil and updating a revocable trust through a trust amendment. The episode also explains when a full trust restatement makes sense, such as when...

A probate final account is a detailed financial summary of everything that happened during an estate administration. It starts with the date-of-death values of all assets, matches those figures to the probate inventory, and then tracks every increase and decrease that occurs while the estate is being administered. This includes expenses such as utilities, maintenance, professional fees, and costs...

An estate plan is not just one document. It is a coordinated set of legal tools that work together to carry out your wishes during your lifetime and after your death. This episode breaks down the core documents that typically make up a comprehensive estate plan and explains how each one fits into the bigger picture. You will learn the role of wills and trusts in directing where assets go, how powe...

Selling a home involves more than just finding a buyer and showing up on closing day. This episode walks through what a seller side closing looks like and what happens behind the scenes to get you from a signed purchase agreement to receiving your sale proceeds. You will learn how the purchase agreement sets the foundation for the transaction, how title work identifies mortgages or title issues th...

Choosing the right title company can make a significant difference in protecting your interests during a real estate closing. This episode explains why working with an independent title company matters and how it differs from using a title company that is affiliated with a real estate brokerage or another party in the transaction. You will learn how an independent title company focuses solely on y...

Many people consider leaving Minnesota residency behind, especially in retirement, but doing it incorrectly can create serious tax and probate problems. This episode explains why people look to change residency, including weather, income taxes, and Minnesota’s estate tax, and why simply buying property in another state is not enough. You will learn about common misconceptions around residency, how...

Many people are surprised to learn that having a trust does not eliminate the need for a will. In a trust based estate plan, the will still plays an important role and helps make sure everything works together the way it should. This episode explains why a will is essential even when you have a trust. It covers how a will is used to name guardians for minor children and why that decision cannot be...

As more of life moves online, digital access has become a critical part of estate planning. When someone becomes incapacitated or passes away, families are often locked out of important accounts, creating unnecessary stress and lost information. This episode walks through the types of passwords and digital access that are most helpful to share in advance. It covers online photo storage, email and...

When a loved one passes away and their home is in probate, a common question is whether the property can still be sold, especially in a strong real estate market. The short answer is yes, but the process looks different than a typical sale. This episode explains how selling a house in probate works, including the need for a court to appoint a personal representative before the property can be sold...

Property records are public documents, which makes buying and selling real estate transparent and accessible. Unfortunately, that same transparency has also created opportunities for scams that target new property owners using official looking letters and misleading language. In this episode, you will learn about a common property record scam where homeowners receive notices claiming their deed is...