Collins, Buckley, Sauntry & Haugh, PLLPCollins, Buckley, Sauntry & Haugh, PLLP2026-07-15T08:29:44Zhttps://www.cbsh.net/feed/atom/WordPressOn Behalf of Collins, Buckley, Sauntry & Haugh, PLLP<![CDATA[What happens when a beneficiary form conflicts with your will?]]>https://www.cbsh.net/?p=523972026-07-15T08:29:44Z2026-07-15T08:29:44ZHow do beneficiary forms affect your estate plan?
Probate is the court process used to transfer certain property after death. Your will controls assets that enter that process. Other property follows separate instructions:
These documents may control even when your will names someone else.
What rules can change who receives an asset?
Minnesota law usually cancels certain choices that name a former spouse after divorce. Federal law or plan rules may still control some workplace retirement accounts.
Many 401(k) plans also give a surviving spouse rights to the account unless the spouse properly consents to another beneficiary. Who receives the asset also depends on whether the person you named survives you and whether you named a backup beneficiary.
Naming a minor directly can create another issue. Depending on the asset and its value, an adult custodian or court-appointed conservator may need to manage it until the child reaches adulthood.
How can you keep your documents aligned?
Review your beneficiary forms after marriage, divorce, a birth or a beneficiary’s death. Check them again after a major financial change. Check both primary and contingent beneficiaries, submit updates directly to each institution and keep confirmation that it accepted the change.
Consider the responsibilities tied to each asset
Naming the right person is only part of the decision. Some assets may involve taxes, withdrawal rules, upkeep costs or other responsibilities. Different estate planning tools may offer different levels of control over how and when a recipient manages an asset.]]>On Behalf of Collins, Buckley, Sauntry & Haugh, PLLP<![CDATA[Can frequent business travel affect child custody in Minnesota?]]>https://www.cbsh.net/?p=523912026-07-10T13:45:28Z2026-07-10T13:45:28ZParenting involves more than just being at home
If a parent travels, it often does not automatically mean they are less involved in raising a child. Flexible work arrangements, remote communication and thoughtful schedules allow a parent to stay connected to school activities, medical appointments and other important events in a child’s life.
As every family functions differently, courts do not measure parenting by the number of nights spent at home, but the focus stays much broader.
The child’s best interest comes first
The courts make custody decisions based on the child’s best interest. Work travel is only one part of the decision. Judges also consider each parent’s role in meeting the child’s daily needs, stability at home and a parent’s willingness to support the child’s relationship with the other parent.
Sometimes looking at a complete picture gives a more accurate understanding of the parent-child relationship than just looking at the work schedule.
A workable parenting schedule matters
Business travel might require parents to think more carefully about parenting schedules, but it does not stand in the way of having meaningful parenting time. A plan that accounts for travel while giving consistency for the child might support the family’s needs better than relying solely on traditional work schedules.
Every custody case is different based on its own facts. A demanding career is only one part of the analysis and Minnesota courts consider many factors before deciding what arrangement works best to serve the child’s best interest.]]>On Behalf of Collins, Buckley, Sauntry & Haugh, PLLP<![CDATA[Add a spendthrift trust to your estate plan]]>https://www.cbsh.net/?p=523672026-07-06T16:23:10Z2026-07-06T16:23:10ZIf you are doing your estate planning, your business may not be complete without the addition of a special type of trust. Spendthrift trusts are often used as vehicles to distribute funds to beneficiaries who are not equipped to handle the trust principal on their own.These trusts use hand-picked trustees to disburse funds according to predetermined schedules set by the trust grantors who fund the trusts. This allows them to help keep at bay their loved one’s worst inclinations and decisions.
Who might need a spendthrift trust?
Any heir or beneficiary who lacks the skills and experience to manage the principal of the trust can benefit from spendthrift trust oversight. They are also good choices for those who struggle with sobriety, gambling or other excesses and those in relationships with controlling spouses and/or friends.But those are not the only circumstances where spendthrift trusts might be used. Beneficiaries in fields like medicine or law, where litigation is more common, might also appreciate the barrier of a spendthrift trust. After all, the funds cannot be tapped by creditors or attached by judgments.
Are there any drawbacks?
Sometimes beneficiaries resent this type of perceived “dead-hand control” over their finances. However, as the trust grantor, you may understand better than they how their lack of fiscal administration could erode the trust’s principal far too quickly.It’s also wise to appoint unrelated trustees over the funds of beneficiaries to preclude any issues arising over the funds from marring an already convivial relationship. Choosing financial or legal representatives as trustees often makes the best sense.]]>On Behalf of Collins, Buckley, Sauntry & Haugh, PLLP<![CDATA[Is it sexual harassment if someone was just joking?]]>https://www.cbsh.net/?p=523652026-06-18T08:31:05Z2026-06-18T08:31:05ZYes, even if someone says they were just joking, comments they made in the workplace can still constitute sexual harassment.
In fact, claiming that "it was just a joke" is one of the most common excuses given when sexual harassment allegations are raised. The person says that their comment was just misinterpreted, that they did not mean anything by it and that they just thought they were being funny. They may even try to turn things around on the victim, claiming that they just did not get the joke or do not have a sense of humor.
2 major issues
The first reason that claiming something was a joke does not override sexual harassment allegations is that jokes themselves can be a form of harassment. Even if someone did think they were just being funny, their comments may still have been highly inappropriate for a workplace environment. They have still crossed the line if they have made comments about someone's sexuality or body type, for instance. It does not matter if they thought it was humorous or if they were being serious.Additionally, these types of crude jokes can often contribute to a hostile work environment. A female employee may not feel comfortable at work if all of the male employees around her are constantly telling crude jokes, especially if they are at her expense. Even if all the other people involved think that the banter is funny, that does not mean it is appropriate for the workplace. They have to think about how it affects the people around them.If you believe you have been experiencing sexual harassment on the job, it is important for you to understand your rights as an employee and the legal steps you can take.
]]>On Behalf of Collins, Buckley, Sauntry & Haugh, PLLP<![CDATA[Estate planning for pet owners: who will care for your animals]]>https://www.cbsh.net/?p=523632026-06-07T22:11:21Z2026-06-07T22:11:21ZFor many, pets are more than companions; they are an important part of the family and help to bring comfort, routine and joy to everyday life. Thinking about their future care is an important step that often gets overlooked during long-term planning.
Life can be unpredictable, and making arrangements ahead of time helps ensure that beloved animals continue to receive love and stability. Taking a few simple steps now can make a meaningful difference in the future.
Ensuring lifelong care for your pets
When a pet owner becomes incapacitated or passes away, pets can be left in uncertain situations without proper care instructions in place. Unlike other assets, animals rely entirely on people to provide daily care, making advance planning essential for their well-being.A pet trust can be an effective way to outline exactly how a pet should be cared for, including dietary needs, medical instructions and living arrangements. A pet trust shares the same basic features of other types of trust documents, such as a living trust. It can be used to set aside funds for expenses such as food, veterinary visits and grooming, while naming a trusted caregiver to carry out those wishes. This structure helps ensure that both the emotional and financial needs of a pet are addressed without confusion or delay.Choosing the right caregiver involves more than finding someone willing to help; it also requires considering their lifestyle, financial ability and emotional readiness to care for a pet. It is also wise to name an alternate caregiver and review the plan regularly to ensure it still reflects current relationships and circumstances. These thoughtful updates can help prevent uncertainty and ensure continuity of care if circumstances change over time.When it comes to protecting the future of a beloved pet, thoughtful planning can help to provide peace of mind that your pet will be safe and loved. Speaking with an experienced legal professional can help ensure the right arrangements are in place and tailored to your specific wishes and circumstances.]]>On Behalf of Collins, Buckley, Sauntry & Haugh, PLLP<![CDATA[4 ways divorce mediation gives you control over asset division]]>https://www.cbsh.net/?p=523612026-06-05T08:39:37Z2026-06-05T08:39:37ZWhat is divorce mediation in Minnesota?
Mediation is an alternative dispute resolution process. In Minnesota divorces, a neutral third party helps both spouses work through disagreements outside of court. Instead of a judge making decisions for you, you and your spouse reach agreements together. This process gives you more say over the outcomes that matter most, including how you divide your assets. Once you understand the basics of mediation, it becomes easier to see the real advantages it offers.
Four ways mediation puts you in control
Unlike litigation, mediation puts the decisions with you and your spouse. From protecting major assets to preserving your privacy, mediation works in your favor in more ways than one. Here are four ways mediation gives you control over asset division:
It protects complex assets: Mediation lets you bring in financial professionals to creatively structure buyouts so you don't lose ownership of your business or livelihood.
It honors sentimental items: Mediation creates a safe space where you and your spouse mutually agree on who keeps meaningful belongings, such as family heirlooms or personal collections.
It allows creative asset swapping: Rather than a judge ordering a forced sale of your home, mediation lets you negotiate alternatives, like one spouse keeping the house and trading equivalent equity from retirement accounts.
It keeps your finances private: Mediation is strictly confidential, protecting sensitive details about your business, net worth and properties from becoming public record.
Each of these benefits gives you the ability to shape your own outcome. That kind of control makes a meaningful difference, especially as you prepare to move forward.
Your future is yours to shape
Divorce marks the end of one chapter, but it also opens the door to a new one. Mediation gives you and your spouse the space to make thoughtful, informed decisions about your assets together. When you understand your options, you can approach this process with clarity and confidence rather than fear. You deserve to start your next chapter on your own terms.]]>On Behalf of Collins, Buckley, Sauntry & Haugh, PLLP<![CDATA[Do most people have a will?]]>https://www.cbsh.net/?p=523592026-05-26T02:48:26Z2026-05-26T02:48:26ZMaking a will is well-known to be something every adult should do. So you might assume that most of them have already ticked off this task. Unfortunately, that is not the case.
According to the 2026 results of Trust & Will’s annual estate planning report, only 26% of US adults have actually made their will. What’s more, only 44% of US adults have some kind of estate planning documents in place. Or to look at it another way, the estates for 54% of adults are currently destined to be settled by state intestate laws.Intestate laws distribute the estate according to a strict hierarchy, with no allowance for the wishes of the deceased, so clearly that is not ideal. An unmarried partner, for example, could be left with nothing.
Getting past the inertia
Making an estate plan might not be top of your list of things to do this weekend, but if you have not yet made one, you should consider setting some time aside for it as soon as possible. Even if you just start with some internet research, you will be one important step closer.Death or incapacitating injuries do not always come with advance notice, and you could be fine without a will one moment, and desperately needing one the next. While the internet can provide some good information and even offer you the chance to make your own will online, it is important to remember that the web contains a lot of inaccurate information. Online will templates are also so generalized that the loved ones of those who used them frequently encounter problems due to things the template did not consider.The safest way to create your will and estate plan is to seek legal guidance to help you ensure it covers everything you and your family need it to, and is made in a way that complies with state laws.]]>On Behalf of Collins, Buckley, Sauntry & Haugh, PLLP<![CDATA[Does your Minnesota plan account for state estate tax?]]>https://www.cbsh.net/?p=523482026-05-07T10:06:09Z2026-05-07T10:06:09ZUnderstanding Minnesota’s filing threshold
Minnesota has its own estate tax, which is separate from the federal system. If your total property value exceeds $3 million, your estate may be required to file a Minnesota estate tax return. While this does not always mean tax will be due, it indicates that your plan needs a closer review.
Additionally, the state offers a deduction of up to $2 million for certain qualified small businesses or farm properties passed to qualified heirs. This can increase the total exclusion to as much as $5 million for qualifying families.
What counts toward your estate?
Understanding the full scope of what you own is vital, as rising home values, investment accounts and retirement savings can push your total asset value over the Minnesota threshold faster than many expect.
When you factor in business interests or significant life insurance policies, your total taxable value may be higher than you realize. With rates ranging from 13% to 16%, the amount at stake is significant once you exceed the $3 million exclusion.
The state also has rules for certain gifts. Some taxable gifts made within three years of death may be added back when determining whether your assets meet the filing requirement. Because of this, gifting assets late in life may not always reduce the taxable amount for Minnesota tax purposes.
Why regular reviews matter
Your plan should reflect your current assets, family situation and goals. If you created your plan years ago, it may not account for changes in property values, retirement savings or tax laws.
You may want to review your will, trusts, beneficiary designations and life insurance policies. You should also consider whether your plan addresses who will handle required filings and other financial and tax responsibilities after your death.
Planning with Minnesota tax rules in mind
The rules do not affect every family, but they can matter if your assets are near or above the $3 million threshold. Taking time to review your assets now can help you understand whether taxes may reduce what your beneficiaries receive. It may also be beneficial to seek guidance from someone familiar with Minnesota estate tax rules.]]>On Behalf of Collins, Buckley, Sauntry & Haugh, PLLP<![CDATA[How stock options and RSUs are divided in a Minnesota divorce]]>https://www.cbsh.net/?p=523422026-04-30T14:05:51Z2026-04-30T14:05:51ZIf you are an executive at a large Minnesota corporation or a business owner in the Twin Cities, your compensation package likely extends far beyond a standard salary. For you, Restricted Stock Units (RSUs) and stock options may represent a significant portion of your net worth.
When your marriage ends, these assets often become a central point of negotiation. Understanding how Minnesota law treats equity compensation is key to protecting what you have worked hard to earn.
What defines marital vs. non-marital equity?
In Minnesota, the law treats property as marital if the parties acquired it between the wedding date and the valuation date, typically the first scheduled prehearing settlement conference. Because equity often vests over several years, courts focus on when the employee earned the right to the stock, not when the company transferred it. If a company awarded a grant for service during the marriage but vesting carries past the filing date, courts treat it as part-marital and part-non-marital based on the time-rule fraction.
What factors complicate the valuation process?
Valuing equity can be difficult because the future price of a stock is unknown. While RSUs are relatively straightforward because they represent actual shares of stock, stock options only have value if the market price exceeds the strike price. To calculate the marital share, Minnesota courts apply the "time-rule" or coverture fraction. This involves comparing the time you worked during the marriage while the grant was active to the total time required for the asset to vest.
What distribution methods does Minnesota apply?
There are two primary ways to handle these assets. The first is a buyout, where one spouse receives cash or other property in exchange for their interest in the stock. The second is the "if, as, and when" method, also known as "reserved jurisdiction". This allows the non-employee spouse to receive their portion only if the stock actually vests or is exercised. This method ensures that both parties share the risk of the stock’s future performance and potential tax liabilities.
What resources can help protect your portfolio?
Dividing high-value equity is complicated because it touches on taxes, company plan restrictions and court precedents. Because every compensation plan works differently, protecting your financial interests starts with a close look at your specific grant agreements. A legal professional can review these documents and help ensure the final outcome is fair and up to date with current law.
]]>On Behalf of Collins, Buckley, Sauntry & Haugh, PLLP<![CDATA[What should you know when choosing an estate representative?]]>https://www.cbsh.net/?p=523382026-04-16T07:23:25Z2026-04-15T16:06:19ZWhat are the duties of a personal representative?
Before you make a decision, it helps to understand what a personal representative does. Generally, the role involves managing the key parts of your estate after your passing. The personal representative is responsible for:
Creating an inventory of your assets
Paying outstanding debts and taxes
Distributing property to your beneficiaries
Filing your will with the probate court
Managing any legal proceedings related to your estate
Because of these responsibilities, the role may take time and attention. Therefore, it is important to select a person who can manage both financial and administrative tasks.
Who is eligible to be a personal representative?
While you may already have someone in mind, not everyone qualifies for the role. Minnesota law sets basic requirements:
The person must be at least 18 years old
The person must be of sound mind
The person must not have a felony conviction under state or federal law
You may choose a spouse, adult child or trusted friend. However, you can also name a fiduciary, such as a bank or trust company. This may be beneficial if the estate involves complex assets or requires ongoing management.
Can you name multiple personal representatives?
Another consideration is whether you need a backup personal representative in your estate plan. It is common for someone to become unavailable due to illness, relocation or other obligations. Naming a backup personal representative can help avoid delays in probate.
Minnesota probate law allows successor representatives if the original choice cannot serve. The court follows an order of priority when deciding who has the right to appointment. You may also appoint co-personal representatives to serve together. This can help maintain continuity during the probate process.
Preparing your estate plan
Choosing a personal representative is a key part of your estate plan. This person will manage important financial and legal tasks after your death. Take time to consider who can effectively represent your legacy after your passing. When planning your estate, it may also be beneficial to seek legal counsel who can guide you through the process.]]>