Tamara D. Block, Attorney at Law
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Are you getting bored with the same weekly meals? If you feel like spicing things up in the kitchen and learning about the 2021 Food Trends, take a look at this site for some really interesting trends. https://www.delish.com/food/a35036824/food-trends-2021
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Tax time, everyone’s favorite time of the year. Questions many people are asking themselves: When can I file? When are taxes due? If I received a stimulus check, will that affect my tax return? Find out answers to your great questions and so much more at https://www.usnews.com/360-reviews/tax-software/when-can-you-start-filing-taxes
Many times, people think Estate Planning is for older people or wealthy people. Estate Planning is something that can be done as young as 18 years old and you do not have to be wealthy. There are many aspects to Estate Planning. To learn more about Estate Planning and how it protects you and your loves ones, read further at the link below.
https://money.usnews.com/money/personal-finance/family-finance/articles/things-you-need-for-an-estate-plan-at-any-age There are so many New Year’s Resolutions and whatever you decide to conquer, will be great! One idea is to get more organized with your home files. Maybe papers are in random places throughout your home, or in one giant folder in a drawer or maybe just in a drawer. Now would be a good time to go through your files, organize and see what important documents need updating! Check out this site on setting up a home filing system. https://www.thespruce.com/organizing-a-home-filing-system-264825
Homemade Apple Cider! This sounds delicious. I also think you could also find other ways to spice up the recipe. Be creative! It's always comforting to cozy up with a warm beverage that soothes the soul. https://www.delish.com/cooking/recipe-ideas/a28224491/homemade-apple-cider-drink-recipe/
Here are some really great ideas on how to decorate your home for Thanksgiving. https://www.thespruce.com/decorate-your-home-for-thanksgiving-4153453
What is your favorite decor? Have a wonderful and safe Thanksgiving. As we look ahead to 2021 what do we need to know regarding estate planning? Depending on the outcome of the election, certain tax laws may change, which means how you plan for your estate could also change. Right now, the federal estate, gift and generation-skipping transfer tax exemptions are $11,580,000 for individuals and $23,160,000 for married couples with a tax rate of 40%. These exemptions are slated to increase in 2025. However, the tax rate could increase to 55% and a lower exemption as soon as 2021. So, what does this mean? It means, in anticipation of these changes you may want to maximize the benefit of using the current higher exemptions and get your estate in order by the end of 2020 as some say the exemption could go as low as $5,000,000. Minnesota residents also need to consider the Minnesota estate tax which currently is at $3,000,000 per person and you cannot share $6,000,000 per couple. If there isn’t proper planning the initial $3,000,000 exemption when the first spouse passes away may be lost. For more information: https://www.jdsupra.com/legalnews/looking-ahead-to-2021-with-a-focus-on-61595/
Here are some fun ideas you can do with decorating your home or place of work with pumpkins. I love the idea of creating a pumpkin bowl to hold treats or apples! How creative! Have some fun with pumpkins and remember to keep the seeds so you can roast them for a delicious snack.
https://www.countryliving.com/diy-crafts/g279/pumpkin-carving-ideas/ The leaves are changing and temperature is dropping. I love enjoying the fall colors by warming up with this delicious coffee drink. If you need a little "pick-me-up," try this fall pumpkin spice coffee recipe! If you don't like coffee, I bet it is still delicious without the caffeine kick. You can also substitute the dairy with a non-dairy option, and add non-dairy whipped cream! Make your favorite fall drink and enjoy the beautiful colors that surround you.
https://www.thespruceeats.com/pumpkin-spice-latte-4174106 Beginning two months ago, I only felt I could do serious blogs, serious Facebook posts, etc. Now, I feel that if I only keep up the seriousness until the pandemic is over, I may never be able to make light of things again! So, here is something that one of the financial advisors I work with shared with me the end of February before the pandemic hit. It isn't funny, but it is very sarcastic ... The Top Five Reasons to Die Without a Will:
1. The court dan do a better job deciding how to disburse your assets that you can. For instance, in talking to a client this morning, she discovered that if she doesn't have a contingency for one of her children predeceasing her, her assets would go to her ex-husband. I don't think that was her intention. 2. The court can choose a better personal representative to handle your estate during probate, which will happen if you don't have a will, than you can. Enough said! 3. The court can choose a more caring guardian for your minor children than you can. Not to mention, those children could be in the foster care system until that decision is made. 4. The government will use your estate tax dollars more efficiently than your favorite charity would use a charitable bequest. Yes, Minnesota still has a low threshold for estate taxes when you take in to consideration your life insurance, equity in your home and your retirement plans, so without careful planning you will be paying a tax on some assets you were already taxed on. 5. And, Finally, your grieving loved ones will be better off looking after your affairs without your will. Keep in mind, you are not doing a will for you, it is a gift to your family. It is the last thing they will remember about you and it can leave a lasting impression! |
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