7 Steps for Getting Started on Your Estate Plan
May 19, 2025 | William F. Huefner
With tax season behind us, now is the perfect time to turn your attention to another important aspect of life planning: your estate plan. Estate planning can seem daunting, but it’s a crucial step in ensuring your wishes are honored and your loved ones are protected. Follow along with us as we provide some initial steps to help you begin the process. 1. Understand the Basics At its core, estate planning is about making decisions now concerning what happens to your assets after you pass away. This involves several key components: Will: A legal document that outlines how you want your assets distributed after your death. Wills are only used if your estate is subject to a probate court proceeding. Trusts: Legal arrangements that hold assets for the benefit of someone else, often used to avoid estate taxes and a probate court proceeding. Financial Durable Power of Attorney: Designates someone to make financial decisions on your behalf if you become incapacitated. Advanced Health Care Directive: Specifies your wishes regarding medical treatment if you are unable to communicate. Beneficiary Designations: Designate who will receive specific assets, such as life insurance policies and retirement accounts. 2. Take Inventory of Your Assets Before you can decide how to distribute your assets, you need to know what…
Read MoreJames H. Wills Retires from Barna, Guzy & Steffen, Ltd.
April 22, 2025 | Barna, Guzy & Steffen, Ltd.
After more than 50 years representing trucking companies and businesses, James (Jim) H. Wills has decided to retire from the practice of law. While his expertise and great humor will be missed, we here at BGS are grateful for his many contributions to the industry and this firm, and we wish him all the best as he embarks on this next chapter. Visitors to his northern Minnesota home will remark that he has not slowed down, simply shifted focus! Jim graduated from law school in 1975 and began his legal career as General Counsel for Dart Transit. After six years there, he moved to Anderson Trucking in a similar role, and in 1985 decided to form his own law firm focusing on transportation law. His deep involvement and contributions to the trucking industry continued from there as he combined his expertise in taxation, corporate law, and transportation in guiding his clients at Kalina, Wills, Gisvold and Clark PLLP and from 2016 on here at Barna, Guzy and Steffen Ltd. Jim’s impact on the trucking industry, especially here in Minnesota, cannot be understated. He served on the company board of more than one trucking company, offering his legal advice and common sense for the benefit of all. He played a very active role in…
Read MoreBGS Supports Achieve Services
April 21, 2025 | Barna, Guzy & Steffen, Ltd.One of the core principles in the BGS Mission statement is to give back to the community we serve. BGS has been involved Achieve Services for several years and recently attended their annual fundraising event. Attorneys Bill Huefner, Kate Fredrickson and Tammy Schemmel represented the firm for the gala on April 10th, 2025. The funds raised at the event support Achieve Services in providing day programming and employment opportunities for adults with disabilities. Achieve also offers services which include community-based employment, on-site employment, volunteer activities, arts and social skills programming, and recreational opportunities.
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