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Home / Archives for Estate Planning

Estate Planning

Fair Isn’t Always Equal and Vice Versa

November 12, 2020 by Yvonne Novak

When you’re deciding how your assets should be divided at death, sometimes dividing them equally is the appropriate choice. But, sometimes it’s not. Fair isn’t always equal or vice versa. Read on to learn more, including how to avoid a challenge if you choose an unequal division among your children. … [Read more...] about Fair Isn’t Always Equal and Vice Versa

Filed Under: Estate Planning, Legal Education Tagged With: beneficiaries, children, unequal

Staying Current is Especially Important in the Pandemic

November 4, 2020 by Yvonne Novak

A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. During the COVID-19 pandemic, it’s important to have them up-to-date. Read on to learn more. … [Read more...] about Staying Current is Especially Important in the Pandemic

Filed Under: Estate Planning, Legal Education Tagged With: Advance Directive, Covid-19, estate planning, Health Care Power of Attorney

Economic Fallout from Coronavirus May Provide Opportunities

May 20, 2020 by Yvonne Novak

Economic Fallout from Coronavirus May Provide Opportunities

COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. While healthcare systems have fought the virus, economies have been hurt by the social distancing required to combat the virus. However, there may be an opportunity for those wishing to do certain types of Estate Planning. Read on to learn more. Read on to learn more … [Read more...] about Economic Fallout from Coronavirus May Provide Opportunities

Filed Under: Estate Planning, Legal Education Tagged With: Coronavirus, Covid-19, estate planning

Planning for the Sandwich Generation

May 2, 2020 by Yvonne Novak

Planning for the Sandwich Generation

The Sandwich Generation is torn between caretaking responsibilities for their minor children and their elderly parents. But first, they need to make sure they take care of themselves. Read on to learn more. Planning for the Sandwich Generation … [Read more...] about Planning for the Sandwich Generation

Filed Under: Estate Planning, Legal Education Tagged With: estate planning, powers of attorney, Revocable Trusts, Sandwich Generation

Beneficiary Designations and Other Non-Probate Transfers

April 28, 2020 by Yvonne Novak

article

Many of us are surprised that our assets may not go to those named in our Will. However, if you have assets controlled by beneficiary designations or other non-probate transfers, that’s the case. Read on to learn how a Will might not control all your assets. Read on to learn more. … [Read more...] about Beneficiary Designations and Other Non-Probate Transfers

Filed Under: Estate Planning, Legal Education Tagged With: bank accounts, brokerage accounts, estate planning, IRA, life insurance, retirement plan

Best Places to Retire: State Taxation

April 23, 2020 by Yvonne Novak

Best Places to Retire State Taxation

You owe federal income tax wherever you live.  But your overall tax burden can vary dramatically depending on where you live.  Read on to learn more. Best Places to Retire: State Taxation … [Read more...] about Best Places to Retire: State Taxation

Filed Under: Estate Planning, Legal Education Tagged With: estate planning, social security, state income tax

Whom Do You Want to Get Your Assets?

April 16, 2020 by Yvonne Novak

whom-do-you-want-and-joint-tenancy

Most of us have an idea whom we’d choose to receive our assets at our death.  But often we don’t contemplate what should happen if the people whom we’ve selected die before us.  Read on to learn more about contingent beneficiaries. Whom Do You Want to Get Your Assets?   … [Read more...] about Whom Do You Want to Get Your Assets?

Filed Under: Estate Planning, Legal Education Tagged With: beneficiaries, estate planning, ultimate

Planning for Special Needs Children

October 24, 2019 by Yvonne Novak

Planning for Special Needs Children

Planning is important when providing for any of your children. But planning is even more important for special needs children. Without proper planning, an inheritance can jeopardize a special needs child’s needs-based benefits, such as SSI or Medicaid. Read on to learn more about planning for special needs children. Planning for Special Needs Children … [Read more...] about Planning for Special Needs Children

Filed Under: Estate Planning, Legal Education Tagged With: planning, trusts

Why Crowdfunding May Cost You Medicaid Eligibility

August 15, 2019 by Yvonne Novak

Why Crowdfunding May Cost You Medicaid Eligibility

Each year, crowdfunding websites raise money for causes. Did you know such a website could impact your eligibility to receive Medicaid? Read on to learn how crowdfunding can impact Medicaid eligibility. Why Crowdfunding May Cost You Medicaid Eligibility … [Read more...] about Why Crowdfunding May Cost You Medicaid Eligibility

Filed Under: Estate Planning, Legal Education Tagged With: crowdfunding, eligibility, GoFundMe, Medicaid

Clarity is Key to Planning

August 1, 2019 by Yvonne Novak

Clarity is Key to Planning

Clarity is essential in an estate plan. This article examines the case of Tom Petty, what he did right and what he did wrong. It shows that clarity can avoid problems later. Clarity is Key to Planning … [Read more...] about Clarity is Key to Planning

Filed Under: Estate Planning, Legal Education Tagged With: Clarity, Tom Petty, trust

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Law Office of Yvonne Michaud Novak

Law Office of Yvonne Michaud Novak
202 West Superior Street, Suite 303
Duluth, MN 55802
United States (US)
Phone: (218) 720-2888
Fax: 866-366-7695

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