A will is a vital component of any estate plan. This document outlines how your assets will be divided upon your death. You may also have provisions in place for who will care for your minor children if something happens to you. The person who is tasked with ensuring...
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Minnesota Estate Planning Law Blog
2 tips to chose a guardian for your child
When you create an estate plan, looking after your children's needs will be a key part. You have a legal responsibility for them until they turn 18, and if you were to die before they turn 18, they need someone to look after them. They also cannot inherit until that...
Organ donation and estate planning
As you delve into the estate planning process, one of the things you can consider is whether you want to be an organ donor. Even if you designated on your driver’s license that you wish to donate your organs upon your death, you can be more specific if you choose to...
How you split your estate may lead to hard feelings
One of the most important things you have to do as an adult is to set up your estate plan. This enables you to leave instructions about who’s getting which assets from you. For people who have a complex family dynamic, figuring out how to set everything up might take...
How an incentive trust can help an addicted loved one
Maybe you have a spouse who no longer has access to some of your property because they have previously tried to use shared assets to buy illegal drugs. Perhaps you have had to have some very uncomfortable conversations with your middle child because of their alcohol...
Options to avoid conservatorships and guardianships
No one likes losing their independence and ability to determine their lives. Unfortunately, it happens sometimes in the elderly population. They may become too impaired to continue making sound personal and financial decisions. Like most, you may not want to get...
2 ways to protect yourself from abuses of powers of attorney
Testators who add documents beyond simple wills to their estate plans can better protect themselves against whatever the future might hold. Planning not just for your death but for possible future medical issues is a wise choice. Powers of attorney help protect you...
Why would you leave an heir $1?
Every now and then, you hear about someone leaving one of their children just a single dollar in their will. This famously happened to TV personality Tucker Carlson, for example. If you're trying to make your own estate plan, you may be wondering why people would do...
Talking about family heirlooms
You can certainly do your estate planning on your own, but it's often not advisable. It's usually considered much better to talk with your family during this process. This is especially true if you have adult children and they're going to be heavily involved. One...
Create a quality estate plan (but don’t DIY)
Your estate plan is an important set of documents that help protect you and your loved ones if you are incapacitated or pass away. The estate plan will go over several important factors including: Your will Your beneficiaries Your wishes Guardianships for your...