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...
Avoiding probate in Minnesota can be challenging
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...
Write a will when you have a child
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...
Restricting authority for the people who hold power of attorney
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...
Use a will to name a guardian of your children
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...
The sentimental value of a cabin makes estate planning complicated
From a financial perspective, estate planning with a cabin may seem no different than with your family home. You can leave it to all of your children, allowing them to take on the responsibilities and costs, or you can sell the cabin and leave the money you make in...
Don’t like your power of attorney? Assign a new one
Several years ago, you put together estate planning documents that appointed a power of attorney for your health care decisions. You were good friends at the time, and you felt that they’d be best able to represent you if you couldn’t talk to a medical team on your...
Reduce the risk of a contested will via proper planning
One of the saddest things to see is when a previously close family falls out over money. If you die without making a proper estate plan, it increases the possibility that this could happen with your family. These are some steps you can take to reduce the chance of...
A lookback period is just one way Medicaid can shrink your estate
When an older adult could have medical needs that exceed the coverage they will receive through Medicare, applying for Medicaid may become necessary. Planning for the potential need to qualify for Medicaid is important for those close to retirement age. If you don't...
Who should you choose for your health care power of attorney?
As you set up your estate plan, something that you should think about is who you’d like to have as your health care power of attorney (otherwise known as your health care agent or medical power of attorney). Choosing the right person for this job is essential because...
