Estate planning involves much more than merely executing a will. You may also want to draft a health care directive, power of attorney or set up an asset protection tool such as a trust. Reviewing your retirement plan to ensure that you're comfortable with your...
Most of the time, people leave the bulk of their assets to their immediate heirs -- the adult sons and daughters they leave behind. But what if that’s not really your preference? What if you’d prefer to skip the next generation and leave your wealth to your...
While many people put off estate planning for one reason or another, starting a new chapter in one's life, such as having a child, often motivates them to reassess the contingency plans they may have in place. Parents are even more apt to do this if they have a child...
Most people creating an estate plan hope to leave their children, grandchildren and other family members most of their property. It is also a common practice for people to leave their pets or companion animals to family members as well. While it is possible to treat...
Movie collections used to consist of cabinets full of VHS tapes or DVDs. Many people put thousands of dollars into them. Plus, those movies had a lot of sentimental value, as they may have watched them with their children while growing up. It just made sense to put...
If there is one thing we have learned in our time serving residents of St. Paul, Minnesota, it is that people dread the thought of probate. As such, they try to find methods that enable their heirs to avoid this process. In most cases, probate is inevitable, but there...
People often make the mistake of assuming that only the elderly need to do their estate planning. Perhaps they look at life expectancy, see that it’s hovering right around 78 years old, and assume that they can wait to do their estate planning until they retire. If...
It is quite common for people to include a power of attorney with their estate planning documents. It is a key component of a thorough living will. After all, if you become incapacitated somehow, it's important to have someone or multiple people with the legal...
Maybe one reason you’ve been postponing your estate planning is that you want to leave an equal share of your assets to all of your adult children, but you’re concerned about what one (or perhaps more) of them will do if they inherit a large amount of money. You don’t...
You create an estate plan for many reasons. Above all else, you want to make sure that your loved ones, such as your children, are taken care of upon your death. Through the creation of a will, you can name a guardian to care for your minor children in the event of...
