I wrote the book on Minnesota probate.
There are many different components to the estate planning process, and not everyone needs to engage in each separate approach. For example, crafting a will is very important when someone has sizable assets or dependent family members, but less so for a young, single...
Adults in Minnesota who are preparing for retirement need to consider not just what resources they currently have but also whether those assets might be vulnerable if they experience financial challenges later in life or if creditors engage in collection activity...
When someone dies in Minnesota, all of their property and responsibilities transfer to their estate. Their estate will pay their taxes and settle their debts. The estate will own their property until it transfers to a creditor or beneficiary. Therefore, the person who...
There is always another excuse that someone can find to justify putting off estate planning a little bit longer. At first, they went to wait until after their wedding. Then they want to wait until they have stopped adding children to the family. Realistically, anyone...
There are certain risks that come with serving as the executor or personal representative of someone's estate after they die. In a scenario where an executor fails to comply with state law regarding someone's remaining responsibilities, they could have personal...
Being an executor of somebody’s estate is a big job, and there are a lot of different things that have to be handled. Far too often, however, people pick their executors based on who is their closest relative – whether that’s a spouse or an adult child – instead of...
Powers of attorney are legal documents that give one adult the right to act on the behalf of another legal adult. Some people draft powers of attorney to transfer Financial authority to a person they trust in the event of an emergency. Other people create powers of...
Drafting documents to talk about the guardian for your children and the distribution of your property after your death is a responsible choice. It is even more beneficial for you to also address the possibility of some medical emergency in the future where you don't...
You’ve spent a lifetime building up your assets and your home is filled with curiosities, collections and family treasures. When you’re making your estate plans, dividing up the bank accounts, insurance policies and investment accounts is usually pretty easy. Dividing...
Did a family or friend recently begin estate planning and asked you to be their executor? If this is your first time hearing about an executor, you may be wondering what the role entails. An executor shouldn’t be confused with an executioner, which would pose all...