After youve met with your Minnesota estate planning attorney to decide how to use your Will to transfer all of your funds and property to your beneficiaries, youll need to return to his office later to sign everything. Fortunately, all of the hard work has been done and youll be given the chance to carefully…
Category: Minnesota Will
Minnesota Wills & Trusts: How Can Moving Impact Your Estate Plan?
Today it’s increasingly common as families grow and change to relocate geographically once or even several times over the course of a lifetime. Jobs, marriage, divorce, grandchildren, retirement, health issues and many other factors can result in moves that present potential estate planning issues. Why does a move matter? You may be confused at this…
Joan Rivers’ Estate Plan Revealed | Minnesota Wills & Trusts
It’s been a bad year in terms of celebrity deaths and estate planning mistakes, with several famous actors and musicians passing away. Though sad for family members and fans, it has been a good year for nosey readers curious about the private financial status of these famous individuals. From Robin Williams to Phillip Seymour Hoffman,…
Minnesota Wills and Trusts | The Value Of A Living Trust & Lou Reed’s Estate
Lou Reed, lead singer and guitarist for the group The Velvet Underground, died after a long battle with liver disease late last year at the age of 71. As a celebrity who valued privacy, little was known at the time about his financial condition, net worth or estate planning decisions. That’s all changed now that…
Minnesota Transfer on Death Deeds
When doing Minnesota estate planning, a person may draft what is called a transfer on death deed which will transfer the title to that person’s home or other real property to their chosen beneficiaries. That transfer on death deed is a very effective as an estate planning tool to avoid probate. What to know about Minnesota Transfer…
Minnesota Probate Law | Is Probate Such a Bad Thing?
Probate is the process in which a court (or possibly a referee in Minnesota) makes a decision about a deceased person’s assets and debts – which are in that deceased person’s name only. A Minnesota Probate is not necessarily a bad thing, but it can be avoided and it is expensive. Often, probates are not necessary if,…
Minnesota Wills and Trusts | Women and Estate-Planning
Though Minnesota estate planning seems like something that would affect everyone equally, and that’s certainly true, there are unique concerns faced by some women that warrant a quick discussion. A recent article by CBS MarketWatch explored some of these issues and we’ll go through some of the advice targeted specifically at women now. First things…
MN Probate and Estate Planning: What Lessons Can Be Learned From Philip Seymour Hoffman’s Estate Plan?
Philip Seymour Hoffman’s unexpected death at the age of 46 shocked the country and garnered headlines for weeks. Now that the dust has begun to settle, details of Hoffman’s estate plan have started to emerge. Though Hoffman thankfully had the foresight to create a basic estate plan to ensure that his loved ones were cared…
Minnesota Probate: What Happens With Jointly Owned Property?
We’ve previously discussed the issue of Minnesota probate and how some assets fall outside the probate process. One example of such an asset is jointly owned property. Keep reading to find out more about how jointly owned property operates following the death of one owner. What is jointly owned property? Jointly owned property is any…
What Exactly Is A Trust And Why Do I Need One?
Most people have heard of a trust, but few likely understand what the estate-planning tool is and whether they might benefit from having one of their own. There’s a common misconception that estate planning trusts are only useful for those with gobs of money. While it’s true that barebones estates may not benefit from a…