It’s understandable that when someone has worked their whole life and saved their money for a comfortable retirement and to leave a legacy to their heirs, the last thing they want is for all their assets to be used for long-term care. Many people probably realize that...
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Minnesota Estate Planning Law Blog
3 important rules for those planning to disinherit family members
There are many reasons why one person might choose to disinherit a family member who expects to receive property from their estate. Perhaps the testator no longer has a close relationship with that particular individual. Maybe their relationship is still solid, but...
What can invalidate a living trust?
A living trust is an estate planning tool that allows you to designate another person or entity (trustee) to manage specific assets on behalf of your loved ones. And if you get it right, a living trust can offer a myriad of benefits such as bypassing probate and...
How to choose a guardian for your children
As a responsible parent, one of the most crucial decisions you can make is choosing a guardian for your children. It’s a decision that demands careful consideration and planning to help ensure the well-being and future of your precious little ones. Although it may...
4 reasons to update an estate plan
Estate planning is the process of anticipating one’s death and ensuring their assets are distributed to the testator's wishes. Many people make estate plans and never update them. But, estate planning is a lifelong process that may need to be altered. There are a few...
What you should know about a will’s no-contest clause
When drafting your will, you expect a smooth probate process for your loved ones. But an interested party may contest it on the grounds of undue influence, fraud or lack of testamentary capacity. Nonetheless, you can prevent this by including a no-contest clause in...
3 common ways for people to fund a trust
There are many different kinds of trusts that can serve numerous different estate planning purposes. There are spendthrift trusts to prevent someone from squandering their inheritance and special needs trusts to provide support for a loved one with medical issues...
How to protect your will from being contested
When drafting your will, you expect it to go into effect when it goes to probate. But this may not be the case. If your will is contested, it may take time before your beneficiaries receive their inheritances, which is not what you wished for. Luckily, you can prevent...
Avoid these estate planning errors
Estate planning is one of life’s necessary processes even though most people don’t enjoy it. That makes it even more important that your time doing it is well spent and that your estate plan functions as you intend. Mistakes in the process can prevent this from...
When can the testamentary capacity be questioned?
A will is the cornerstone of any estate planning process. With a valid will in place, you can have peace of mind knowing that the wealth you have worked so hard over the years to acquire will pass down to the people you care about per your wishes when you die. If you...