If you have had a successful career or if you inherited property from your parents, you may be in a good position to leave valuable resources for the next generation. Estate planning requires not just acknowledgment of your relationships to determine who should...
Estate Planning & Probate
Have you been named the personal representative of a will?
When you create a will, you should appoint someone to carry out its mandate. If you don’t, the probate court will appoint someone to act as the personal representative or executor of the estate. Being chosen as the personal representative or executor of an estate is a...
2 estate planning questions for new parents
As a new parent, you have a lot of things to think about, especially when it comes to providing for your baby. Many new parents focus on the basics, such as making sure the baby is eating and healthy. While it’s not a pleasant thought, you should add creating an...
5 estate planning documents you should set up
When you’re working on your estate plan, you may not be exactly sure about which documents you need. There are several that you can set up, like trusts, your will and your powers of attorney. There are many, many others as well. To help make things easier for you,...
Should your chosen executor’s financial issues worry you?
You’ve always been pragmatic, so you got your estate plan together fairly early. You considered all your options, divided your assets as you thought best, picked the best possible people to hold your powers of attorney and selected your executor with care....
How do you know it’s time to create your estate plan?
Most professionals and parents have more demands than time to handle them. You probably have to prioritize what challenges you conquer on any given day. If you want to achieve something special, you may need to plan weeks ahead of time to have the support and...
Estate planning is nothing to fear
It is perfectly normal to have reservations about estate planning, but these are often blown out of proportion. Too often, misconceptions result in people forming a negative opinion of the process without considering any of the potential benefits. The reality is that...
Does your estate plan address Minnesota’s estate tax?
Your belongings become your estate after your death. Your estate plan, along with Minnesota probate laws, determines who receives what from your estate. You likely hope to pass your biggest assets to your closest family members, but they may not receive what you...
3 strategies that can help you minimize the cost of probate
Probate is the legal process of obtaining the court’s approval to distribute the deceased’s assets according to their last will or state law if they passed on intestate. The probate process begins with the appointment of the estate’s personal representative,...
How long do creditors have to make an estate claim?
Probate is a complicated process with numerous steps. The executor has to fulfill certain obligations before they can distribute property to the beneficiaries of the estate. One of the most important duties of an executor is to settle accounts held by the testator. In...