Virtus Law PLLC

06/18/2026

As poet Robert Burns mused centuries ago, the best-laid plans of mice and men often go awry. Despite thoughtful effort and a concerted strategy, you cannot prepare for every emergency in life. A car accident, sudden illness, workplace injury, or chronic medical condition can force you to reevaluate the core assumptions you used to plan your future and set up your legacy.

Frustratingly, once you are no longer able to manage your own affairs (also known as being incapacitated), you will not be able to turn back the clock and make plans that will make your transition into a possible incapacity as smooth as possible for you and your loved ones. However, you can take meaningful actions prior to an incapacity to protect your money, property, and legacy in the wake of any newfound limitations. Here are some insights to that end:

Work with a qualified estate planning attorney to ensure that you have taken the following actions:

✅ Legally appointed a trusted person to manage your property, pay your bills, file your taxes, and handle similar financial and legal matters if you are unable to do these tasks

✅ Legally appointed a trusted person to make healthcare decisions for you if you become mentally or physically unable to make them yourself

✅ Communicated your wishes about healthcare decisions such as end-of-life care and do-not-resuscitate instructions in a clear and legally valid manner (if your state allows for this)

Work with a knowledgeable financial advisor to take the following additional actions:

✅ Ensure that you have appropriate life or disability insurance coverage

✅ Reassess your investment options and portfolio in light of the possibility of new limitations and constraintson your ability to generate income

✅ Ensure that you have a budget that would work if you become incapacitated so that all of your bills will get paid on time

Here are some specific actions you can take now:

✅ Pay attention to where you want your money to go as well as to your long-term planning strategy. Your estate planning attorney can help you assess whether your current plans are still realistic and, if not, what alternative options you have.

✅ Maintain a healthy lifestyle. Visit your medical professionals on a regular basis and follow their instructions.

✅ Get the help you need from trusted professionals. Now is the time to tap your network of friends and family for assistance with the heavy lifting. No single advisor will have all of the answers. But your team can work in concert to reduce the anxiety and uncertainty that come with a potential incapacity and keep you focused on what really matters.

To discuss estate plan changes and updates, schedule an appointment with our estate planning attorneys. You can reach out to us at (612) 888-1000.

06/16/2026

Wills and living trusts are two of the most fundamental estate planning documents. While both accomplish the same primary objective in an estate plan of directing the distributions of your money and property to your desired beneficiaries after you pass away, a revocable living trust, often referred to simply as a living trust, provides added flexibility and functionality, including incapacity planning.

There are three roles under a revocable living trust:

• The person who creates the trust, called the trustmaker, grantor, or trustor
• The person who manages the trust and the accounts and property it owns, known as the trustee
• The person who receives money and property from the trust, called the beneficiary

Before setting up a revocable living trust, you should understand what you can—and cannot—do in your dual role as trustmaker and trustee.

The Living Trust While You Are Alive:

After creating a trust, as the trustmaker, you must retitle accounts and property that you want to be transferred to the trust—such as real estate, financial accounts, stocks, and bonds— from your name to the trust’s name. Even after this transfer, as trustee, you retain control over them and will manage them for your benefit throughout your lifetime while you have capacity.

Any time before your death, while you are mentally capable of managing your affairs, you have the legal authority to alter, amend, or even revoke the living trust as the trustmaker. However, because it is your trust and you retain control over the trust’s accounts and property, there are some things you cannot do.

• You cannot use the trust to shield or protect accounts and property from your creditors.
• You cannot avoid paying taxes on income earned by the trust. Because no separate tax identification number is required for trust income, income on the trust’s accounts and property must be reported on your personal tax return.
• You cannot perform trust-related business, like making investments, taking disbursements, and paying taxes, individually. You will need to sign as the trustee instead of as an individual.

The Living Trust After You Die (or Become Incapacitated):

This brings us to the next phase of a revocable trust: the time after your death or incapacitation. When you pass away or suffer from incapacity, a successor trustee of your choosing takes over trust administration per the instructions you provide in the trust document.

Depending on the trust’s terms, the successor trustee may be responsible for managing the trust’s accounts and property for an extended period on behalf of the beneficiaries and terminating the trust and distributing its money and property to the beneficiaries. If you become incapacitated, the successor trustee can serve in this role for as long as you are unable to manage your affairs.

Many revocable trusts will close within a few years of the trustmaker’s death. Still, some may remain open for years, such as those holding accounts and property for a minor beneficiary until they hit a certain age or milestone, as specified by you in the trust agreement. In either case, it is a good idea to name a backup successor trustee if something happens to the original successor trustee and they can no longer serve.

Schedule a call at (612) 888-1000.

06/11/2026

What is the difference between a will and a trust?

A will is basically a letter to the Court explaining how you want your assets to be distributed following your death. The only one who listens to a will is a probate judge. The only place it is valid is in a probate court. The costs of probate are normally taken from your estate, and national averages are between 3% and 10% of all of your assets.

The alternative is a revocable living trust. Trusts are often
formed to ease the transfer of assets to beneficiaries. You will still need a a short form version of a Will for two main reasons:

• In case something was left out of the trust, the will can put it in the trust to protect it.

• The will is also the place where guardians are named for minor children.

A trust is a merely a contract between the trustmaker (the person who set up the trust), the trustees (the caretakers) and the beneficiaries. The trustmaker must transfer property to the trust, which is called “funding” the trust. The trust will control how the property passes to the beneficiaries, not the court. After the trustmaker passes away or becomes incapacitated, the caretakers manage the trust according to the wishes of the trustmaker

With a trust, it’s likely that your assets will pass to your beneficiaries confidentially with little to no involvement from the court. The entire process is faster, cheaper, and more effective than probate court.

We can help you take this important step. Since you and your circumstances are unique, contact us today and let’s explore the options. You can reach us at (612) 888-1000.

06/09/2026

Facing a Health Diagnosis or Major Surgery? Plan Ahead for Peace of Mind

Receiving a health diagnosis or learning that surgery is needed can shake up your routine and leave you with a lot to process. During this challenging time, the last thing you may want to think about is estate planning.

Proactive planning can help you focus on your treatment while knowing that important aspects of your life are taken care of. Let’s ensure your estate plan is updated, so everything is in order, allowing you to move forward with peace of mind.

Key Areas to Review in Your Estate Plan

Healthcare Documents:

These include your powers of attorney, advance directives, and HIPAA authorization. These documents appoint someone to manage your healthcare decisions and receive your medical information if you’re unable to do so yourself.

Financial Power of Attorney:

This document appoints someone to handle your finances—covering your investments, bills, and taxes—so you can concentrate on healing while a trusted person takes care of your financial matters.

Updated Trusts:

An up-to-date and properly funded trust ensures that your successor trustee can manage your assets and estate, relieving you of the burden during your health journey. If time is short, updating your will is another option to ensure your assets are distributed according to your wishes.

Proactive planning can be a lifesaver when dealing with health challenges. Let’s talk about updating your estate plan today—reach out to us at (612) 888-1000 to get started.

06/04/2026

Running a business is exciting, but it’s no secret that conflicts can derail even the best ventures. From disagreements with partners to misunderstandings with clients, disputes often come down to one thing: miscommunication. The good news? Most business disputes can be avoided with the right strategies in place. Let’s break down three practical, easy-to-follow tips to help you protect your business.

1. Put Everything in Writing

A handshake deal might feel good, but it rarely holds up when disagreements arise. Always create clear, written agreements—whether it’s with a business partner, contractor, supplier, or client. Contracts should outline expectations, responsibilities, deadlines, and consequences if things go off track. Even if you trust the other person, having everything in writing keeps misunderstandings to a minimum and provides legal protection if needed. Think of it as building a safety net for your business.

2. Communicate Early and Often

Silence is the breeding ground for disputes. If something isn’t working, don’t wait until it becomes a major issue address it right away. Regular check-ins with partners, employees, and clients ensure everyone stays aligned. Encourage open, respectful dialogue where concerns can be voiced before they turn into major conflicts. By being proactive, you set a culture of transparency that strengthens trust and prevents small issues from becoming full-blown disputes.

3. Plan Ahead with Legal Guidance

One of the smartest investments a business can make is consulting with an attorney early on. A lawyer can help you structure agreements, review contracts, and provide insight into common risks in your industry. Having legal guidance upfront may seem like an extra cost, but it’s far cheaper than fighting a lawsuit later. Think of it like insurance: it protects you when problems arise.

Final Thoughts

Avoiding business disputes isn’t about being lucky, it’s about being prepared. By putting agreements in writing, keeping communication open, and seeking legal guidance, you’ll save your business time, money, and unnecessary stress. Remember, prevention is always more cost-effective than fixing problems after they explode.

Don’t wait until it’s too late, get proactive about protecting your business today.

Schedule a call at (612) 888-1000 and let’s make sure your business is built on a solid foundation.

06/02/2026

Should Your Family Know All the Details of Your Estate Plan?

“Estate plans aren’t just documents—they’re conversations that shape your family’s future.”

When most people think of estate planning, they picture paperwork, lawyers, and signatures. But one of the most overlooked questions is this: Should your family know all the details of your estate plan?

It’s a tricky balance. On one hand, transparency can bring peace of mind and prevent confusion. On the other, oversharing can create unnecessary conflict, resentment, or even hurt feelings. So, how do you decide what to share—and with whom?

Why Some Families Benefit from Full Transparency

Being open about your estate plan ensures everyone understands your wishes ahead of time. That means fewer surprises, less room for disputes, and a stronger sense of unity when tough moments come. For example, explaining why one child is named executor or why certain assets are being left in trust can avoid misunderstandings later.

When Privacy Might Be the Better Path

Not every detail needs to be shared with every family member. If your plan involves sensitive issues—like protecting an adult child from creditors, or managing assets due to addiction, divorce, or financial irresponsibility—it may be wise to keep specifics private. In these cases, clarity belongs with your attorney and trustee, not necessarily the entire family.

Finding the Middle Ground

Here’s the good news: it doesn’t have to be “all or nothing.” Many people choose to share the broad strokes of their plan—like who the decision-makers are, or the fact that key documents exist while keeping dollar amounts and personal reasoning private. This way, your family knows you’ve planned responsibly without creating unnecessary tension.

Tips for a Healthy Family Conversation:

Choose the right time. A calm, everyday setting is better than a rushed holiday dinner.

Focus on values. Instead of just talking numbers, explain the “why” behind your choices—family unity, education, or protecting loved ones.

Keep professionals involved. Your estate planning attorney can guide you on what details to disclose and what to keep confidential.

Revisit as life changes. Marriage, new grandchildren, or financial shifts may mean it’s time for an updated talk.

The Bottom Line

Whether you decide to share everything or only the essentials, the most important step is having a plan in the first place. A carefully designed estate plan protects your loved ones, avoids costly legal battles, and ensures your voice is heard when you can’t speak for yourself.

Don’t leave your family guessing. Start the conversation today.

Call us at (612) 888-1000 to get your estate planning questions answered with clarity and compassion.

05/28/2026

Wills and living trusts are two of the most fundamental estate planning documents. While both accomplish the same primary objective in an estate plan of directing the distributions of your money and property to your desired beneficiaries after you pass away, a revocable living trust, often referred to simply as a living trust, provides added flexibility and functionality, including incapacity planning.

There are three roles under a revocable living trust:

• The person who creates the trust, called the trustmaker, grantor, or trustor
• The person who manages the trust and the accounts and property it owns, known as the trustee
• The person who receives money and property from the trust, called the beneficiary

Before setting up a revocable living trust, you should understand what you can—and cannot—do in your dual role as trustmaker and trustee.

The Living Trust While You Are Alive:

After creating a trust, as the trustmaker, you must retitle accounts and property that you want to be transferred to the trust—such as real estate, financial accounts, stocks, and bonds— from your name to the trust’s name. Even after this transfer, as trustee, you retain control over them and will manage them for your benefit throughout your lifetime while you have capacity.

Any time before your death, while you are mentally capable of managing your affairs, you have the legal authority to alter, amend, or even revoke the living trust as the trustmaker. However, because it is your trust and you retain control over the trust’s accounts and property, there are some things you cannot do.

• You cannot use the trust to shield or protect accounts and property from your creditors.
• You cannot avoid paying taxes on income earned by the trust. Because no separate tax identification number is required for trust income, income on the trust’s accounts and property must be reported on your personal tax return.
• You cannot perform trust-related business, like making investments, taking disbursements, and paying taxes, individually. You will need to sign as the trustee instead of as an individual.

The Living Trust After You Die (or Become Incapacitated):

This brings us to the next phase of a revocable trust: the time after your death or incapacitation. When you pass away or suffer from incapacity, a successor trustee of your choosing takes over trust administration per the instructions you provide in the trust document.

Depending on the trust’s terms, the successor trustee may be responsible for managing the trust’s accounts and property for an extended period on behalf of the beneficiaries and terminating the trust and distributing its money and property to the beneficiaries. If you become incapacitated, the successor trustee can serve in this role for as long as you are unable to manage your affairs.

Many revocable trusts will close within a few years of the trustmaker’s death. Still, some may remain open for years, such as those holding accounts and property for a minor beneficiary until they hit a certain age or milestone, as specified by you in the trust agreement. In either case, it is a good idea to name a backup successor trustee if something happens to the original successor trustee and they can no longer serve.

Schedule a call at (612) 888-1000.

Minneapolis-based law firm focused on Estate Planning, Asset Protection, Business Law, and Corporate Strategy. Trusted legal partners for families and privately held businesses.

05/27/2026

Estate Planning and Home Security: Protecting What Matters Most

Estate planning is about more than passing down money and property—it’s about protecting your loved ones and giving yourself peace of mind. While we can’t control the future, we can decide who will take care of our affairs and how our assets will be managed when the time comes.

Interestingly, more Americans have home security systems than estate plans. But having one without the other could leave your estate—and your loved ones—vulnerable. If your home isn’t protected now, there may be nothing to pass on later.

Sadly, moments of loss or incapacity can become opportunities for testate plan. Whether you're away temporarily or have passed on, it ensures that trusted individuals can respond to emergencies and keep your property safe.

If you've already given access to a house sitter, friend, or neighbor, remember that your legal representatives such as your trustee, personal representative, or power of attorney—may also need access to your security system. Depending on your system (keypad, mobile app, or 24/7 monitoring), be sure to document login credentials and contact information for whoever should receive alerts in your absence.

Even small oversights—like forgetting to provide access—can cause big issues later. That’s why a will is just the beginning. A complete, thoughtful estate plan should include your digital accounts, home security system, and personal logins.heft or misuse. A home security system can serve as an added layer of protection, especially when included in your estate plan. Whether you're away temporarily or have passed on, it ensures that trusted individuals can respond to emergencies and keep your property safe.

If you've already given access to a house sitter, friend, or neighbor, remember that your legal representatives such as your trustee, personal representative, or power of attorney—may also need access to your security system. Depending on your system (keypad, mobile app, or 24/7 monitoring), be sure to document login credentials and contact information for whoever should receive alerts in your absence.

Even small oversights—like forgetting to provide access—can cause big issues later. That’s why a will is just the beginning. A complete, thoughtful estate plan should include your digital accounts, home security system, and personal logins.

Our legal team can help you build a plan that covers it all, down to the last detail. Reach out today to ensure your estate is protected from every angle.

Call us at (612) 888-1000 to schedule your consultation.

05/21/2026

Your retirement account may be one of the most valuable things you own. Many people consider naming their children as the beneficiaries of these accounts because they think it is a way of easily transferring their wealth if something happens to them. However, there are some factors that make this type of transfer more complicated than you may think, especially if your child is a minor.

Can a Minor Be Named Individually as a Beneficiary?

Yes, you can name your minor child as the beneficiary of your retirement account or as the contingent beneficiary who would receive it if the primary beneficiary you have named on the account dies before you pass away. However, if your child is a minor when you die and they inherit your retirement account, a court may have to appoint a guardian or conservator to handle any money distributed to the child from the account. This will take time and money, and the guardian or conservator the court chooses may not be the person you would have chosen. You can avoid this by proactively naming a conservator or guardian for your minor child in your will.

Should You Name a Trust as a Beneficiary of the Retirement Account and Your Child as the Beneficiary of the Trust?

Another option is to create a trust for your child and to name the trust as the beneficiary of your retirement account. This option can work for see-through trusts that meet certain criteria under the law and allow the applicable beneficiaries of the trust to be treated as the beneficiary of your retirement account. There are two types of see-through trusts you can consider: conduit trusts and accumulation trusts.

Conduit Trust:
A conduit trust requires all required minimum distributions (RMDs) made from the retirement account to the trust to be distributed to the child (or used for the child’s benefit) as soon as the trust receives it. The trust will provide asset protection and tax deferral for the funds that remain in the actual retirement account. In addition, the terms of the trust can ensure that once the child reaches the age of majority in your state, they will not be able to simply withdraw the entire balance remaining in the retirement account all at once.

The trustee can also have discretion to withdraw funds from the retirement account in addition to the RMDs, which would then be distributed to or for the benefit of the child, but these decisions about additional withdrawals will be made by the trustee, rather than the child. Although the remaining balance must still be full distributed to the child by the end of the calendar year in which the child turns thirty-one, until that time, the conduit trust will provide asset protection, tax deferral, and additional time for your child to mature and learn how to handle the money responsibly before receiving a potentially large sum of money.

Accumulation Trust:
An accumulation trust, unlike a conduit trust, provides the trustee with the discretion to decide whether to pay out the RMDs to the child (or for the child’s benefit) from the retirement account or to retain the funds in the trust. As a result, the full amount of the funds distributed from the retirement account to the trust can stay in the trust and can potentially be protected from claims made by outside creditors.

An accumulation trust will enable you to ensure that the funds are not distributed to your child sooner than necessary or desired and that the child does not gain access to the entire amount in your retirement account as young as eighteen. However, the funds must still be fully withdrawn from the retirement account by the end of the calendar year in which your child turns thirty-one. Any funds retained by the trust instead of distributed to your child will be taxed at the much higher tax rates applicable to trusts rather than the lower rate that is likely to be applicable to your child.

We Can Help:
There are pros and cons for each option, and the one that best for you and your child will depend on your unique circumstances and goals. We can help you think through whether asset protection, tax minimization, or another goal should be your priority. If you already have made your minor child a beneficiary of your retirement account or have set up a trust as the beneficiary of your retirement plan for the benefit of your children, it is important to review and update your beneficiary designations and your trust if needed. Some recent changes in the rules that govern these important accounts will have a big impact on when the funds must be distributed—and may necessitate a change in your plan.

Please call us and set up an appointment at (612) 888-1000 so we can help you think through the best plan for your retirement accounts, as well as any other estate planning concerns.

05/19/2026

We all plan for “just-in-case” scenarios. When packing for our week-long vacation, we throw in a rain jacket even though the weather forecast is sunny just in case. When planning for the future, it is also important to consider what will happen just in case one of your loved ones becomes disabled.

We tend to think that disability is something that affects otherpeople. But approximately 61 million adults in the United States live with a disability that is one in four adults. And more than one in four twenty-year-olds will become disabled before reaching retirement age. Disability is unpredictable, and accidents or serious physical or mental conditions, such as cancer or mental illness, can happen to anyone at any age.

If a loved one becomes disabled, they may need to rely on financial assistance from government programs such as Medicaid or Social Security Disability Insurance.

Unfortunately, a monetary gift or inheritance from you may disqualify this loved one from receiving these public benefits.

In this situation, your well-meaning gift could become more of a curse than a blessing.

To avoid the possibility that a disabled loved one will lose government benefits because they have too much money, you may want to consider setting up a standby supplemental needs trust as part of your estate plan.

The terms of a supplemental needs trust provide that the trust’s money and property are only available to supplement the government benefits a beneficiary may be receiving.

Therefore, the trust’s money and property are not included as available resources when determining a beneficiary’s eligibility for government benefits.

A “standby” supplemental needs trust does just what its name implies: the supplemental needs trust is not created automatically but is on standby and comes into existence only if a beneficiary is disabled at the time of your death or, depending on the applicable state’s eligibility rules, becomes disabled at a later date but before the trust has been fully distributed.

Since no one knows what the future holds, nearly every estate plan could benefit from including standby supplemental needs trust provisions. If the standby supplemental needs trust is not needed at the time of your death, then the trust will not come into existence. But it does not hurt to include it—just in case. To schedule an appointment with one of our estate planning attorneys, contact us at (612) 888-1000.