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...
Estate Planning
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...
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...
