When people think about estate planning, they often imagine elderly parents leaving assets to their adult children. The parents are in their 80s, the children are in their 50s and wealth is transferred from one generation to the next. Certainly, this happens all the...
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Minnesota Estate Planning Law Blog
What is an ethical will and does your estate plan need one?
Do you want your loved ones to live an ethical lifestyle? Do you wish you could pass on the values and beliefs you have come to trust in your lifetime? A yes answer to one or both of these questions could mean your estate plan would benefit from an ethical will (aka...
3 assets you should not include in your will
Creating a will is, without a doubt, one of the most responsible things you can ever do. In fact, a will is the foundation of the estate planning process. Done right, you can have peace of mind knowing that your hard-earned assets will pass down to the people and...
Why you may need a residuary clause in your will
When you sit down to plan your estate and designate beneficiaries for your largest assets, you probably already know what assets are worth the most. Your home, your cabin, your investment accounts and your small business could all be assets that you carefully plan for...
What does your family know about your estate plan?
If you died tomorrow, would your family know what to do next? You may have your will written and a trust in place, but your family may still largely be clueless about what steps to take when you die. If you’re healthy, you may not be immediately concerned for your...
What is resuscitation?
When you are doing your estate planning, making medical decisions is one thing that you want to keep in mind. This isn’t all about money and assets. One document that people sometimes used to do this is known as a DNR order, where DNR stands for “Do Not Resuscitate.”...
You may need to consider a pet trust
If you’re doing your estate planning, you’re probably mostly focused on your heirs and your assets. But it’s always important to remember that estate planning is about much more than this, and those with a pet may want to consider setting up a trust for this beloved...
What exactly is a power of attorney?
As you develop your estate plan, you’re going to hear and see a lot of new terms – some more than others. If you have experienced legal guidance, you don’t fully have to understand them all. However, it’s wise to know what some key terms mean. One of these terms is...
Estate planning is about much more than money
There are many misconceptions in circulation about estate planning. People can be put off of the subject over the perception that it is morbid. Younger people commonly think that they don’t need to think about it yet. Even a significant number of individuals over the...
3 myths about estate planning
It’s important to plan for the future, not only for you but for your family's sake. That’s why many people plan their estate, allowing their families to inherit their assets and more. The only trouble with estate planning is that many people have the wrong idea about...