Estate planning is undertaken to ensure that your family receives the property and personal belongings you leave behind. Even so, with probate a necessary part of the process, it may take time for your family to receive their inheritance. When drafting an estate plan,...
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Estate Planning
Why should parents have a will?
Discussing your will is a hard pill to swallow. After all, no one likes looking their own mortality in the face in such a real and tangible way. But it is something that everyone should do, and it is especially important for parents. But why is it so crucial to have a...
How a will protects your family
You may not look forward to planning for your death, but it is a crucial part of life. Making decisions now may go a long way for saving your family time, money and further heartbreak after you die. A will is one piece of an estate plan that affords you the chance to...
3 important estate-planning steps for new parents
As a young parent, you may not feel you have amassed enough of a legacy to warrant creating an estate plan. You may be remiss not to have one, though. While everyone may benefit from having an estate plan, the stakes become even higher once you have a son or daughter...
Will you owe estate taxes?
As you get deeper and deeper into the estate planning process in Minnesota, you begin to recognize those opportunities where you may be able to minimize the liabilities facing your estate (thus preserving more assets for your beneficiaries). Yet throughout the entire...
What is probate?
If you have started to think about planning your estate, you have probably heard the word probate. What is it? Should you avoid it? Having a firm grasp of how probate works in Minnesota can help inform smart estate planning decisions. Defining probate Probate is the...
What are concerns for non-traditional family estate planning?
Estate planning in years past was pretty simple because family structures were simple. However, today's families have many different forms and types. According to Kiplinger, a traditional family is one where you and your partner marry, stay in the marriage and have...
What you should know about updating your will
Writing a will is a necessary part of planning for your future. When you record your end-of-life wishes and finalize your estate plan, you can maintain control over the things that are most important to you. Because you want your will to function according to your...
What should you include in your will?
If you have yet to start estate planning by creating a will, you are not alone. According to a survey conducted by Caring.com, only 6 out of 10 adults in the U.S. have created this essential estate planning document. It is never too early to create your will. When...
Estate planning considerations in your 40s and 50s
You have school-age children, a healthy 401(k) and equity in your home. One thing you might not have yet is an estate plan that will provide for your family and protect your livelihood when you can no longer do so. If you have reached your 40s or 50s, begin the...