Contrary to popular belief, estate planning isn't just for the elderly or the super-wealthy. That's because estate planning involves more than simply drafting a will to pass on any assets you may have. Estate planning is for everyone -- at any age. It's beneficial to...
Why you should talk to your children about your estate plan
You certainly do not have to talk to your adult children as you make your estate plan. Even those who are listed as your heirs do not have to know what that plan looks like in advance. That being said, there are some good reasons to have a conversation or two with...
What factors (other than a contested will) might delay the probate process?
Most people don't have a firm understanding as to what the probate process entails until they sit down with an estate planning attorney. Lawyers often inform their clients about some of the more common reasons for probate delays and how to best avoid them during these...
Who pays for debts when someone passes away?
Individuals need time to heal and deal with their loss when they lose a loved one. While many people respect another person's request for time to grieve, that often isn't the case with ruthless and unscrupulous debt collectors. Some creditors may even continue to push...
Estate planning is actually much cheaper than probate problems
Estate planning has an unearned reputation of being expensive and difficult. While there are certainly situations that require complicated plans and stacks of documents, those are rare circumstances. The average person only needs a last will and maybe a few other...
Tips that you can use to help your elderly loved ones choose a good executor
No one needs a sound will and estate plan as much as older citizens do. The senior years usually bring increased vulnerability to these members of society. Unless your elders already have a solid estate plan, you may feel worried about what will happen to them as they...
What makes a durable power of attorney different from other powers of attorney?
Not all legal documents have the same purposes. Even documents that may seem the same on the surface are slightly different. An advance medical directive, for example, is different from a medical power of attorney. Both might relate to the medical care you'd receive...
Is do-it-yourself estate planning good enough?
Many people who certainly know that they need an estate plan nonetheless do not have one in place. When asked, a common response is that they’ll do it later. Some people mention that all they need to do is download a blank form online and fill it out. How hard can it...
Not all wills are recognized as valid in Minnesota
If you have never engaged in estate planning, there exists a chance that you do not know as much about valid wills as you may think. All states have specific laws about what makes a will valid. Minnesota is no exception, and those who fail to understand the state’s...
What you need to know about the impact your retirement account has on estate planning
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...
