Every family has its own approach when it comes to talking about financial and legal information. Minnesota wills and trusts lawyers see everything from very open and transparent situations to those where discussions of money are considered taboo. In reality, families which are at the
Minnesota Elder Lawyer Perspective: Legal Concerns for Caregivers
Elder lawyers in Minnesota work not just with our older clients, but also with their caregivers. In many cases, this means adult children who have or will be given power of attorney, not to mention those who just step up to help when something is needed. There are some legal issues that
How Do You Treat Children Fairly When It Comes to Estate Planning?
Central Minnesota wills and trusts lawyers see just about every circumstance which results from a parent’s death. Some siblings handle the wills and trusts administration gracefully and with dignity, while others turn to squabbling and pettiness. When we work with our clients, they are often very
Is a copy of a will sufficient?
Many people keep their important documents at home where they are easily accessible. It’s not at all uncommon to find people with a filing cabinet or even a shoe box containing passports, account statements, deeds, tax returns, birth certificates and social security cards. Wills are often added to
Testamentary v. Inter Vivos Trusts
The world of estate planning can be complex. If you have just started your research or are in the process of setting up your estate plan, you’ve likely encountered discussions of wills and trusts. While most people have a very basic understanding of a last will and testament, trusts are often
Responsibilities and Obligations of Personal Representatives
When a person dies with a Will in place, a Personal Representative or Executor is named as the responsible individual for winding down the decedent's affairs. In situations in which a Will has not been prepared, the probate court will appoint someone to that role. Whether you have been named or
How to Leave to Stepchildren
Today, blended families have become increasingly common, and many individuals have stepchildren. In situations where stepchildren have not been legally adopted, however, they do not have a legal right to an inheritance from a stepparent. For those who wish to leave stepchildren part of their estate,
Top Five Estate Planning Mistakes
In spite of the vast amount of financial information that is currently available in the media and via the internet, many people either do not understand estate planning or underestimate its importance. Here's a look at the top five estate planning mistakes that need to be avoided. Not Having an
How does life insurance fit into my estate plan?
Life insurance can be an integral part of an estate plan. Policies can be set up to be paid directly to the beneficiary, without the need to pass through the estate. Having a life insurance policy ensures that some assets will be liquid, so that debts and expenses can be paid quickly and easily