Choosing someone to execute your estate is one of the key tasks to cover in your estate plan. If you don’t make the choice, then a probate court will be forced to do it for you. Here are some of the things to consider when deciding who to ask: Do you trust them? You...
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Factors that can delay probate
Probate is the legal process where the courts assess the validity of a will and oversee the administration of an estate. Typically, this process should take between six and 12 months but there can be delays. What are some of the main factors that can delay probate? ...
Should you have a mirror or joint will with your spouse?
It’s not unusual for married couples to craft their wills at the same time. Broadly speaking, most couples either choose to create mirror wills or joint (“mutual”) wills. What’s the difference? While both outline how assets will be distributed upon the death of one or...
Be informed: Ask questions before becoming an estate executor
After losing a close loved one, you’ll want to review their will. If executed properly, it should outline their final wishes and may name a trusted friend or family member to settle their affairs. Being chosen for this role is a true honor, a testament to the respect...
What if someone dies without a will on record in Minnesota?
Drafting a will can be a stressful experience. It can be difficult for someone to think about what might happen to their family members after they die. Beyond that, many people find it challenging to think about what may happen with family relationships when they are...
Addressing sentimental property in your estate plan
When creating an estate plan, much attention is traditionally given to financial assets, real estate and investments. However, addressing the distribution of sentimental personal property—a category of assets that often includes family heirlooms, photographs, jewelry,...
Do you need to review your will after your divorce?
Divorce is one of the reasons to update a will. But do you need to remove your ex-spouse from your will? Is there a risk to keeping them? Here is what to know: Revocation by dissolution of marriage In Minnesota, the dissolution or annulment of marriage automatically...
Why should young adults draft a will?
Estate planning is often thought of as something that only elderly individuals need to do, but this is far from the truth. Estate planning can help adults of all ages to better safeguard their interests. Drafting a will may be the last thing on the mind of a young...
There are positive reasons to disinherit someone
When someone gets disinherited, it means two things. First, it means they had a reason to expect to inherit. They are either a family member of the person who is making the estate plan or they are a beneficiary who was previously included, even if they aren’t a direct...
What are charitable trusts?
Charitable trusts are an estate planning option that can provide valuable support for charities while still enabling a trust’s creator to support their loved ones. As part of a comprehensive estate plan, these trusts are established to manage assets for charity,...