Estate Trust and Gift Tax

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Financial Planning for College

Financial planning for college expenses should be started as soon as possible. Also, you need to understand the effect of student aid and family contributions, explore college savings plans, and discover how to increase your child's chances of receiving merit-based scholarships.
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Managing a Financial Windfall

A financial windfall presents both an opportunity and a challenge. While it’s a chance to boost your financial health, it also demands savvy strategic planning to minimize taxes and maximize returns. 
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Identity Theft Scams – Protect Yourself

Identity theft occurs when someone wrongfully obtains and uses another person's personal information, such as their name, Social Security number, credit card accounts, or other confidential data, and uses it to commit financial fraud or engage in other criminal activities while impersonating the victim.
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Trusts & Estates with Zach Wiegand

PODCAST: Join us as we explore Trusts & Estates with our guest, attorney Zach Wiegand, at Gold Leaf Estate Planning and our own Trust & Estate expert, principal Adam Thielen. Together, we unravel the complexities of Gift & Estate Exclusion Rates and guide first-time estate executors through the process of
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Estate and Gift Tax Exclusion

The estate and gift tax exclusion is increasing in 2023 to an all-time high, but set to be cut in half by 2026. Read more to learn about how you can best take advantage of this opportunity today and for an analysis of several different gifting options available to you.
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Irrevocable Life Insurance Trust

Life insurance can provide peace of mind, but if your estate will be large enough that estate taxes will be a concern, it’s important to not own the policy at death. The policy’s proceeds will be included in your taxable estate and may be subject to estate tax.
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Foundation or Donor-Advised Funds

Private foundations can be highly effective for people who want to leave a charitable legacy, but they’re expensive to set up and operate. Donor-advised funds (DAF) are a popular alternative, but they also have potential drawbacks.
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Private Foundations Conflict of Interest

Private foundations must adhere to strict conflict-of-interest rules. Transactions with “disqualified persons,” including substantial contributors, managers, officers, directors and trustees and their families generally are off-limits. . Selling or leasing property to or from your foundation and making loans or providing goods to it are prohibited. If the IRS determines
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Navigating Trust Taxation

Trusts are an essential tool for estate planning, but trust taxation implications can be confusing. You need to understand the differences between the types of trusts to determine which is best for your unique financial situation and goals.
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Adding Kids to Accounts & Deeds

Adding kids to your bank account or home deed can create a host of legal, financial, and tax issues that can leave you and your loved ones vulnerable to significant risks and losses. Learn about the issues and alternative solutions to help you achieve your estate planning goals.
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Essential Estate Planning Documents

Estate planning is an essential part of financial planning for all individuals, regardless of age or asset level. It can help ensure you have enough money for retirement, minimize your estate taxes and maximize the wealth you pass to your beneficiaries. 
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Hot Tax Topics

The Federal government has proposed legislation and the state of Minnesota has enacted legislation that may affect your tax situation.  This article highlights four hot tax topics to keep an eye on.
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Olsen Thielen Celebrates 100 Years

Nearly 100 years ago, Olsen Thielen was founded on the belief that personal attention, trust, and quality service were the key elements to helping our clients succeed, and that commitment remains.  commitment to their clients and their community. 
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Now May Be the Time to Use Your Gift and Estate Tax Exemption

The federal gift and estate tax exemption was enacted in 1916, and right now, it is at the highest it has ever been.  This means that you can pass more to your heirs today, without paying any federal gift or estate tax, than ever in the past century.
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Adam P. Thielen Elected Principal

We are pleased to announce that Adam P. Thielen, CPA, was elected Principal, effective September 1, 2020.
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