Mark Balzarini Analyzes the HEMS Standard in Trusts with Farm Progress
HEMS standard allows for distribution discretion. Hellmuth & Johnson attorney, Mark Balzarini discusses this issue with Farm Progress. “Clients often want their trustee to have discretion in making distributions to beneficiaries but are concerned the trustee will not decide in a manner that they intend.” Read full article here.
Mark Balzarini Explores 5-by-5 Trust Distribution Strategies with Farm Progress
Managing 5-by-5 power trust distribution. Hellmuth & Johnson attorney, Mark Balzarini discusses this issue with Farm Progress. “There are various distribution options that can be used when making distributions to a beneficiary from a trust.” Read full article here.
Mark Balzarini on Disclaiming Inherited Assets with Farm Progress
Not all inheritances need to be accepted. Hellmuth & Johnson attorney, Mark Balzarini discusses this issue with Farm Progress. “I occasionally talk with clients who recently received notice that they are inheriting assets and want to know if they are required to accept this inheritance. The short answer is no.” Read full article here.
Mark Balzarini Explains Transfer-on-Death Deeds with Farm Progress
Transfer-on-death deeds powerful tools for real estate exchange. Hellmuth & Johnson attorney, Mark Balzarini discusses this issue with Farm Progress. “Transfer-on-death deeds are a powerful tool when looking to transfer real estate upon death, without the need of probate.” Read full article here.
Mark Balzarini on Navigating Minnesota Residency and Taxes with Farm Progress
State taxes still a factor after moving from Minnesota. Hellmuth & Johnson attorney, Mark Balzarini discusses this issue with Farm Progress. “As the seasons change, I often have conversations with clients on the issue of moving away from Minnesota.” Read full article here.
Mark Balzarini Explores Trust Modifications Through the Power of Decanting Under Minnesota Law
Decant a trust when circumstances change. Hellmuth & Johnson attorney, Mark Balzarini discusses the complexities of modifying irrevocable trusts and the power to “decant” under Minnesota statute Section 502.851. This process enables trustees to transfer assets to a new trust with updated terms, but it’s important for them to seek legal counsel due to key […]
Mark Balzarini Explores IRS Private Letter Rulings with Farm Progress
Private letter rulings test tax liability. Hellmuth & Johnson attorney, Mark Balzarini discusses this issue with Farm Progress. “The question came up recently whether there are options to test a plan or transaction for tax liability before executing the plan, particularly in situations where it is not clear how the tax rules and laws will be applied […]
Mark Balzarini on Using QPRTs to Protect Family Estates with Farm Progress
Qualified personal residence trusts. Hellmuth & Johnson attorney, Mark Balzarini discusses this issue with Farm Progress. “Protecting estates from estate and gift taxes continues to be a primary focus for many families.” Read full article here.
Mark Balzarini Navigates Amending Trusts with Farm Progress
Trust amendments may be in order. Hellmuth & Johnson attorney, Mark Balzarini discusses this issue with Farm Progress. “Changes that are made to the trust must conform with the material purpose of the trust, and the changes must be something that a court would otherwise be authorized to approve.” Read full article here.
Mark Balzarini Analyzes Family Farmland Splits with Farm Progress
Swapping land advantageous for the whole. Hellmuth & Johnson attorney, Mark Balzarini discusses this issue with Farm Progress. “I often meet with families where farmland was distributed from parents to children equally as tenants in common.” Read full article here.