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...
Estate Planning
How should you structure your estate plan review?
After creating your estate plan, you will still have many more steps to take in the overall maintenance and upkeep of your estate. After all, you need to ensure that your estate itself reflects every change in your life. Consistent reviewing can sometimes grow tedious...
How can special needs trusts help disabled beneficiaries?
If you have a loved one with special needs, you could worry about their future. For example, you might have concerns about their financial well-being down the road, especially if you are currently supporting them and you worry about their future. Fortunately, special...
Information about a healthcare directive
As you age, it is important you think about filling out a healthcare directive. Having one is also beneficial if you have a terminal illness, have chronic health conditions or have an upcoming surgery. A healthcare directive outlines your wishes for medical care in...
When should you update your estate plan?
An estate plan can help you organize your assets and protect the people closest to you. You can use your plan as a resource to provide guidance and comfort to your family members even after you pass away. Having an estate plan is just the beginning. Once you have...
What duties does a Minnesota personal representative have?
When you create your Minnesota estate plan, you need to designate someone as your personal representative. Sometimes called an executor, the personal representative is responsible for managing and handling a wide range of tasks relating to your estate after you die....
Key considerations when drafting a living will
A living will is a legal document Minnesota recognizes that gives you the ability to outline what you want to happen to you medically if certain circumstances come to fruition. You may use a living will to state your preferences in a variety of areas related to your...
How can I protect my business with my estate plan?
If you fail to plan for the handling of your business after your death, the state steps in and decides for you. This could end in a way that does not suit your intentions. USA Today explains you have multiple options for protecting your business through an estate...
Is it time to update your estate plan?
As a resident of Minnesota, you may have likely sunk years of time and effort into creating your estate. After that, it is equally important to create a manageable estate plan. This will allow your beneficiaries to inherit your assets with minimal legal friction. ...
Should I consider a family member as my trustee?
The prospect of setting up a trust for your children might seem attractive to you. With a trust, you can convey an inheritance to your loved ones without going through probate. You might also want a trust to provide for a special needs relative. To complete your...
