Another long cold winter has come to an end, and spring is slowly emerging. You know what that means: it is time for spring cleaning! Many people find great joy in taking the opportunity to open up the house, dust, clean, vacuum, polish and de-clutter; others see it as a massive chore.
Whether you revel in the opportunity to start anew or groan at the responsibility, it is likely that you feel much better when the process is complete. Estate planning makes a fine addition to a spring cleaning list. Wouldn’t you feel better knowing that your loved ones are protected and your legacy is secured?
An Estate Planning Checklist
If you have an existing estate plan, spring is an excellent time to schedule a review with your attorney. Life changes— including a change in marital status, the growth of your family or an altered financial status—can require an updated estate plan.
If you do not yet have an estate plan, there are a number of estate-planning tools you can discuss with your lawyer, including:
- A will to divide your estate and establish a plan for your children or other dependent family members
- A trust to minimize estate tax liability, avoid the probate system and distribute wealth according to your personal preferences
- A health care directive to let others know your health care wishes in the event of a serious illness or injury
- A power of attorney to grant the power to make legal and financial decisions in the vent you become incapacitated
A comprehensive estate plan will grant you peace of mind. Just like a thorough spring cleaning, having an estate plan in place to protect your loved ones and safeguard your assets will make you feel better about life. Once your future is secured, you can focus your attention on the present.
The Importance of Good Counsel
There are a number of do-it-yourself guides to Minnesota estate planning. While there are things you can accomplish yourself in the realm of estate planning, you need more than legal forms and processes to create an effective plan. Without experienced counsel on your side, your plan may not work out the way you intend. Minnesota’s probate laws will be used to fill any gaps in your will.
If you make a mistake in crafting your own estate plan, your choices will not be respected. If you have questions or need help with an estate plan or probate issue, contact an estate planning lawyer as soon as possible.