When most people think about estate planning, they spend a long time considering how they want to leave their assets. However, if you do not put the same amount of thought into choosing the personal representative who will administer the estate, you may be putting your envisioned dispositions at risk.
You may already be aware that the death of a relative can bring out raw emotions in most people. Some may withdraw or prefer to remember their loved ones in solitude. Others might let negative emotions take hold, including anger or entitlement. You and other Minnesota residents may want to keep your loved ones from fighting over your estate after your death.
Death is not always an easy topic to discuss. Though an estate plan can be beneficial to virtually anyone, some parties do not see the full value in it.
No one likes to think about having to enter a nursing home. The idea can seem especially unfathomable when you are in good health, no matter your age. However, the odds that you will never have to go into a nursing home are not something you want to gamble with. Why?
Planning for your child’s future can be stressful, but that stress further compounds when your child has special needs. The designation of special needs encompasses a broad spectrum of cognitive disabilities and when children near legal adulthood it can be difficult to decide whether or not to seek guardianship over them.
Understanding the probate process and what assets it involves will be part of the discussion when you meet with an attorney to prepare your will. For example, if you want to know whether your collection of vintage dolls will be subject to probate, the short answer is yes.
During his lifetime, the late and great Prince of Minnesota had amassed what many expect to be a very significant estate. According to Forbes.com, estimates suggest Prince's net worth is over $300 million. Prince smartly took measures protecting his ownership rights to his music. He retained control of his art, including performance royalties, publishing rights and more.