Naming a legal beneficiary is necessary for life insurance, annuities, qualified retirement plans, individual retirement accounts, and some bank accounts. Ideally, these assets will be paid directly to whoever you have selected as your beneficiary...
Life insurance is a powerful tool to ensure that your loved ones are taken care of financially after you're gone. But as life evolves, so do our relationships and priorities. A common question we encounter is: "Can I change the beneficiaries on my...
Many people mistakenly believe that without direct heirs—like children or grandchildren—there's no need for estate planning. However, the reality is quite different. Even if you don't have immediate family to inherit your assets, deciding how your...
Typically, adult children have three options when they inherit a house from their parents: they can move in, sell, or rent it out. If you and/or your siblings have recently inherited a house and don’t really know what to do, we’d suggest contacting...
The loss of a loved one is always a challenging time. Amidst the emotional turmoil, there are several practical tasks that must be undertaken. One of the foremost among these is obtaining the deceased's death certificate. Why Do You Need a...
A Personal Representative, or Executor, of an estate is simply the person who is designated to carry out the wishes set forth in the decedent's will. This person also has the responsibility of finishing up the decedent's final affairs, such as...
The probate process can seem daunting, especially when navigating the myriad of assets left behind by a loved one. While many assets pass through probate, some bypass this legal process altogether. Understanding this distinction is crucial for...
When it comes to estate planning, ensuring that your will is legally valid is paramount. One of the key components of a valid will is having witnesses present during its signing. But why is this step so crucial? Our Minnesota estate lawyer delves...
When you're named a beneficiary of a trust, it's natural to have questions about your inheritance and the trustee's actions. Knowing your rights is essential in ensuring transparency and fair management. Here, our Minnesota trust attorney shed...