Your Estate Planning Needs Are Our Primary Concern
The entire process from the beginning of an estate plan through the plan’s administration can have its complications. Many people do not realize how much their wills should include, or how complex the probate process can be, until they are face-to-face with these matters.
At Groshek Law PA, we provide Minneapolis and the surrounding Twin Cities area residents with estate planning and administration. Our lawyers can address concerns regarding wills, trusts, probate, health care directives and other related needs. We work alongside our clients and tailor our legal services to meet their needs.
Wills And Probate Can Be Complex – But They Do Not Have To Be
There are several ways you can divide your assets as you make your estate plan. You can divide them out through trusts—such as a revocable living trust which can help your loved ones avoid the stress of probate court. You can also establish charitable trusts. Ultimately, drafting a good, thorough will can save your family from future headaches.
Our services also extend to the administration and probate process. You are likely already going through a tough time following their loss. Ensuring that a loved one’s assets are distributed fairly can add unnecessary weight. We will fight for your best interests and the interests of the decedent.
Do You Have Questions About Estate Planning?
The numerous steps of estate planning, estate administration and probate are often confusing. Here, we have answered a few frequently asked questions to help you understand the law better.
What should I have in my estate plan?
Every estate plan differs depending on the needs and goals of the person creating it. However, yours should have a few key tools such as:
- A will to name your beneficiaries
- A power of attorney who can make decisions for you if you lose capacity
- An advanced care directive that lets people know your wishes regarding medical treatment
- A health care proxy who can handle your medical care if you no longer can
When you sit down to create your estate plan, you can learn how your attorney can tailor these documents to suit your needs.
Why do I need a will?
Even if you are not sick and are fairly young, you should have a will. Life is unpredictable. If you should suffer a medical emergency or some other accident, your will can protect your beneficiaries and shield your estate from taxes.
What if I die without a will?
Anyone who dies intestate – or without a will – is subject to the laws of intestacy in Minnesota. This means that the court will take control of your estate and distribute it according to the order of intestate succession. You have no guarantee that the court will handle your assets as you would have wished.
What is probate?
Probate is a legal process in which the court validates the will of a deceased person. If someone dies without a will, then the court distributes their assets according to Minnesota intestacy law.
Can I help my loved ones avoid probate?
To a certain extent, yes. You can place assets into trusts that will pass to a beneficiary after you die. These assets will circumvent probate and are not subject to tax.
Do I my loved ones have to pay my debts after I die?
If you have any outstanding debts or tax obligations, the money to repay them will come from your estate. Your relatives do not have to pay out of pocket. By using an asset protection trust, you can shield some money and assets from your creditors.
How often should I update my estate plan?
It is smart to update your estate plan every few years. You should also revisit it after major life events like marriage, divorce, the purchase or sale of real estate, a death in the family or the birth of a child.
Should I work with an attorney?
Yes. Although there are plenty of do-it-yourself options on the internet, many courts will not uphold these documents. A lawyer will make sure that your will is legally sound so the court and your loved ones will honor your wishes.
Connect With Our Lawyers For A Consultation
Estate planning and the administration of property can be simple with the help of an informed attorney. Reach out to our office for help today. Call 612-426-7047 or send us an email to schedule a consultation.