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Estate Planning
A comprehensive estate plan is important to create and update during all phases of life. It protects your assets from unwanted distribution in the event of your death and clarifies your wishes on crucial topics like healthcare, power of attorney and child guardianship. Protect the people you love and the money you’ve worked hard for...
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Family
Estate planning is important for any family to help prepare for an unknown future. But, for children with special needs, estate planning is critical to financial stability and wellbeing. A bit of preparation now can save your family from making difficult decisions without understanding your wishes for your child. The Importance of Planning Ahead According...
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Home with beautiful backyard
Estate planning. To the uninitiated, this sounds like something only the wealthy require—those with grand estates that span acres and include large collections of specialty items. In reality, though, everyone can benefit from an estate plan. But not any plan will do. And not every plan fits every individual. Moreover, while estate plans do direct...
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Male Signing
Protecting yourself and your assets is critical if you’re going through a divorce. In addition to making decisions about property division, custody, visitation arrangements, and spousal maintenance, it’s important that you update your estate plan to ensure that the future you face without your spouse is secure. Here are a few estate planning updates you...
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Elderly Woman Alone
As the Baby Boomer generation ages, the number of “elder orphans”—those who have no mate or grown children—is increasing significantly. In fact, AARP reports that “more than 1 in 5 Americans older than 65 are—or are at risk of becoming—elder orphans.” In addition, they state that “23 percent of boomers will eventually be without family...
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Living Will
Estate planning is a difficult exercise for most people. It means facing your mortality, making difficult decisions about care in your final days, and dividing your property after your death. A full estate plan takes all of this into consideration, but also incorporates items that only matter while you are living. One such item, a...
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Did you know? The U.S. Census Bureau reports that blended families now outnumber “traditional” families in the United States. Estate planning is different for blended families. Things can get complicated when spouses have remarried – especially when they have stepchildren and biological children together. It rarely makes sense for a person who remarries or enters...
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It’s that time of year again. Thousands of parents are sending their kids off to college or to their first jobs after high school graduation. Many are looking at each other wondering where the time has gone and how the kids grew up so fast. And many wonder what to do next. While you adjust...
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Inheritance laws offer some protection to spouses, but rarely to unmarried partners, when a will and other estate planning documents do not exist. Even if you’ve drafted a contractual agreement between the two of you regarding disposition of assets, inheritance laws and other biases can affect how a judge or a relative will carry out...
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The most common question an estate planning attorney hears is, “Do I really need a will?” As all lawyers do, we hedge our bets and say, “maybe.” Here’s why: Your particular family and financial circumstances dictate whether you should have a will or whether your wishes would be fulfilled under Minnesota’s intestate laws. These laws...
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