Dealing with the future possibility of needing a care facility may feel overwhelming to many people. However, it is an important step to consider during estate planning. But how does a person find a good long-term care facility in the first place? Know what support...
Estate Planning
Should you review your estate plan?
Creating an estate plan is just the first start of managing an estate and preparing it for an easy hand-down after your death. Reviewing and maintaining your estate plan is an ongoing process. But how do you know when you should review your plan in the first place?...
What do executors have to manage?
When selecting an executor for your estate plan, you should keep in mind that they will have numerous responsibilities that they need to fill. Understanding these responsibilities can help you pick an executor who has the skills necessary to be up to the task....
3 key components to include in an estate plan
Many people n Minnesota delay creating estate plans. Sometimes, they do so because they have concerns about the potential time or expense involved in the process. Other times, people neglect to create estate plans because they do not feel they have enough assets to...
Who should be your health care agent?
As you get older, the possibility that you will become disabled or too ill to make your own health care decisions will increase. That is why many people name someone to serve as their health care agent. Also known as a surrogate or a representative, a health care...
How should you decide which estate planning strategy to use?
When you decide to start planning your estate, you might feel overwhelmed about choosing a good strategy. Developing a well-rounded plan will take time and require consistent effort over the years. Taking a complete assessment of your lifestyle and goals is an...
Are you right for the role of estate executor?
When someone asks you to be the executor of his or her estate, it is an honor. Usually, this request means that the person trusts you and believes that you will adhere to his or her wishes about what happens with the estate after his or her death. As an executor, you...
Identifying a successor to take over your business
If you do not plan for a successor to take over your business after you step down, your company might not survive. You may want to retire or unexpected health reasons may force you to step down as owner. If you have a person ready to take over for you, your business...
What can a trust accomplish that a will cannot?
Your will may be the most fundamental and important component of your Minnesota estate plan. Yet, sometimes, you may have unique estate planning goals that you might need to use other estate planning tools or techniques to accomplish. Trusts are a type of estate...
Can you prevent disputes about your estate?
Your estate plan can provide your surviving family members with support after your death. However, a vague description of your final wishes, as well as forgetting to update your plan could cause confusion and tension. Your desire to prevent familial discord after your...
