Estate planning for business owners requires specific strategies to ensure a smooth transfer of ownership while keeping the business financially stable. Passing down a business involves careful thought to balance personal and professional goals. Choosing successors...
Estate Planning
Important documents for your Minnesota estate plan
Creating a comprehensive estate plan is necessary to honor your wishes and protect your loved ones. Understanding the importance of including certain documents in your Minnesota estate plan will help you make an informed decision. Last will Your will is the...
What makes a health care directive valid?
Falling ill and becoming incapacitated can be a tricky situation, especially if your family members are unaware of your wishes concerning your medical needs. These situations can put your family in a tough spot, especially if they have conflicting opinions about what...
Protecting your wishes: Questions for potential estate executors
Estate planning is a thoughtful process which helps to ensure that your wishes are carried out after you're gone. A crucial part of any plan is selecting someone to manage the estate at issue and ultimately fulfill those final wishes. Choosing the right person...
A trust gives you more control over your estate
Generally speaking, your estate plan is designed to help you pass your assets on to the next generation. You are no longer going to have control over these tangible items or financial assets. They’re being put into someone else’s name, and that person can use them as...
Should you put off estate planning until you retire?
Did you know that only 34% of the U.S. population – when looking at adults – has written in an estate plan yet? It’s true. Only about a third of Americans have a plan in place that their family can use when they pass away. One of the top reasons for this issue is just...
3 important estate planning tips for singles
Estate planning helps singles ensure their assets end up where they want and their wishes come to fruition in the event of incapacity or death. Despite not having spouses, singles still need to take proactive steps to plan for the future and safeguard their financial...
How a will can protect your family and estate
A last will and testament is a legal document you can use to leave your property to people or organizations. You can also name a personal guardian to care for your minor children and appoint a person to manage the property you leave for your kids. Without a will, the...
Potential risks of being an estate executor and how to avoid them
Being named executor in someone’s will not only gives you strenuous duties as part of probating their estate but also puts you at risk of potential liability if things go wrong. Knowing the potential risks that come with the position can help you avoid them since you...
What does an estate plan cover?
Death can happen unexpectedly. Everyone should have some sort of estate plan in place. However, according to CNBC reports, 67% of people do not have any estate plans in place. Estate planning is about more than allocating assets to say who will get your possessions...
