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Building An Estate Plan That Is Right For You
You may have put a lot of thought into choosing a godparent (or maybe two) for your child. Godparents are probably most closely associated with Catholicism. In the Catholic faith, the godparent’s role is to be a spiritual advisor for a child and, if something were to...
People in many different personal situations may decide to create and fund a trust as part of a broader estate planning strategy. Some people create trusts to reduce posthumous tax risks or creditor claims after they die. Others utilize trusts to protect their...
A will is a set of instructions that you leave behind stating what you want to do with your assets after you pass away. While many people find it helpful to create a will or estate plan, some people die without a will, which is like leaving your things in your house...
Estate administration in Minnesota can be a lengthy process. The personal representative of the estate must find testamentary documents. They need to submit documents to the courts, send letters out to creditors and fulfill someone's responsibilities before...
One of the most important steps when creating a trust is properly funding it. People often transfer some of their most valuable resources into a trust. They may do so as they prepare for retirement or even earlier in life to protect their assets from lawsuits and...
Occasionally, family members take issue with the terms included in someone's estate plan or will. Those disappointed with the inheritance that they believe that they should receive might try to raise a claim that a testator's documents are invalid. One of the more...
If you and your spouse have been married for decades, your assets are likely largely or entirely combined. Your estate planning needs may seem simple. You just want whomever outlives the other to have all of your assets. When you’re both gone, you want your adult...
Those who have strong religious beliefs often like to integrate their faith into many aspects of their life. For example, those who regularly attend church services often tithe or make contributions to their congregation and volunteer for various faith-related causes....
A power of attorney is a document that you can use to plan for your future. Understandably, you can’t predict exactly how your future will unfold or what needs you’re going to have at every stage of life. Therefore, a power of attorney allows you to select an agent...
Those who are planning for the future may create a trust as a way of structuring support for dependent family members or charitable organizations. They can provide detailed criteria for distributions from the trust and even name a final beneficiary to receive whatever...