The legacy that you have to leave to your family members when you die depends on numerous different factors. How much you earned and saved during your life will play a major role. So too will your advance planning both for what you leave behind and your final years of...
Estate Planning
A simple trick that can make passing on the cabin fairer
Whether you call it a cabin, a lake house or your vacation home, your second residence is likely valuable. Even if it isn't as big as and didn't cost as much as your primary residence, it likely has a lot of emotional value. You and your entire family may have spent...
What are your options for leaving your farm to your children?
Estate planning for farmers is uniquely complex – particularly when you have children and grandchildren whom you hope will continue the business you and possibly your parents and grandparents built. These days, however, there’s no guarantee that all of your kids will...
How do you make minor changes to your will?
Once you have created a will, it is natural and easy to forget about it. However, this would be a very serious mistake. As life events occur, you may need to review and update your will so it can reflect your current circumstances. If all you need is a small change...
Why shouldn’t you build your estate plan from the internet?
You’ve probably come across ads for do-it-yourself wills and estate plans on the internet. While these ads point you to documents and information that might apply to someone in your circumstances, the reality is that these documents may not be the right ones for your...
Have you thought about estate taxes yet?
Your estate plan gives you control over what happens to your property when you die and also what care and treatment you receive when you are in a medically vulnerable situation due to incapacitation. Each of these considerations requires careful planning to adequately...
You inherited a home and a mortgage: What should you do?
When your loved one listed you as the beneficiary of their home in their will, they thought they were being generous – and so did you. However, they intended to have the mortgage paid off before they passed away. Sadly, that didn’t happen. What do you do? You have a...
How to choose your personal representative
Most people think about wills and possibly trusts when they think about their estate plan. There’s much more that you need to think about when you’re getting your estate plan together, though. One of the things that you have to decide is who you will name as your...
What are the rules that apply to making a will?
In Minnesota, there are specific laws that apply to the different kinds of wills. Many people think that their verbal word is enough to make a binding contract, but did you know that is not the case in this state? Minnesota has specific rules that you must adhere to...
Why naming a health care power of attorney is not enough
One essential element of estate planning is planning for ill health. One aspect of that is choosing a health care power of attorney. Yet deciding who you want to do it and completing the necessary documents is not enough. The documentation is the easy part, and you...
