What is Estate Planning?

Estate planning refers to the process of planning for the future. An estate plan can help with:

• Deciding who receives a share of your assets
• When and how any beneficiaries receive an inheritance
• Who manages the estate (trustee, personal representative, etc.)
• Guardianship for children
• The sale or orderly continuance of a family business

Estate planning is not only a smart choice but also shows your family that you care for their future. Without proper estate planning, you’re leaving assets up in the air for State laws to manage. Court-appointed administrators may not share your idea of where assets should land, leading to possible financial hardship and struggles for family members. Additionally, the lack of estate planning can end in family quarrels regarding assets, which can significantly impact the relationships of those you love.

Our Estate Planning Services

Over the years, we’ve established a history of successful partnerships with clients throughout Minnesota and North Dakota through our estate planning legal services. We go above and beyond to ensure that our client’s needs are being taken care of, and expectations are exceeded.

Last Will & Testament

A last will and testament is used to instruct how you want any property to be distributed upon your death. This crucial documentation saves your beneficiaries from fighting over or dealing with the distribution of property after you’re gone. Furthermore, a living will and testament also indicate who will assume guardianship of any minor children in the case that there is no surviving parent. It’s important to note that last wills are subject to the probate process. These can be time-consuming and expensive processes. We can handle pour-over wills and other strategies that can help your family avoid probate with estate transfers and other methods. We’ll explain the law and how to help your family with a last will and testament that protects your beneficiaries.

Trusts

When you need to specify how you want your assets to be handled and divided upon your death, a living trust is a necessity. While on the surface, it may look similar to a will, but there are some noticeable differences that can affect your beneficiary’s future. With a living trust, your interest in the property and assets is transferred to the trust during your lifetime. Upon your death, they will pass to your beneficiaries without ever having to go through probate. Not only will this save your loved ones a ton of expenses, but also the time and hassle that are associated with the probate process. We’ll help you create a living trust that ensures a simplified and more affordable future for your loved ones.

Living Will

Also known as an advance healthcare directive, a living will is a type of legal documentation that specifies what healthcare actions and decisions you wish for yourself. If, for whatever reason, you are incapacitated and are unable to make decisions, a living will appoints another person to make the decisions for you. A living will can also outline any life-prolonging treatments you want or do not want — in a situation where you are unfit to make your own medical decisions. We can assist with creating an advance health care directive that fits your wishes and appoints someone you trust in order to make medical decisions in an unfortunate case where you are unable to do so.

Codicil

If you’re in need of an addendum for an existing will, a codicil is what you’re looking for. The probate process is drastically affected by births, deaths, marriages, and even family law situations like divorce — and your personal wishes may change as well. We can help you go over your existing will and review any changes that may require a codicil. We’ll help you create a will that has your best interests in mind and reflects your wishes thoroughly.

Power of Attorney

Power of attorney documentation can be a complex endeavor. It contains essential information and directives that allow someone to act with authority on your behalf, typically when it comes to financial matters. A durable power of attorney, unless stated otherwise, remains intact even if you become incapacitated. Within the power of attorney documentation, you can indicate financial arrangements, agreements, and instructions in the case of permanent unconsciousness or terminal illness. We’ll advocate for you and your best wishes so that you have the right people by your side in the case that you are unable to act or decide for yourself — along with setting up a financial future for loved ones.