Your Mom asks you if she can list you as the personal representative of her estate if she dies. You agree as you want to help if anything happens to her. But do you know what it means to handle the role of personal representative? In Minnesota probate, as the personal representative (also known as…
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Revocable Living Trust for a Single Person
A revocable living trust is a legal document that can serve as an important tool for a single person seeking to protect their assets and ensure a smooth transfer of wealth upon their passing. While trusts are often associated with wealthy families and complex estates, they can be beneficial for anyone, regardless of the size…
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Part 2: Estate Planning Strategies for Unmarried Couples
As discussed in the prior post, nontraditional families must take steps to provide protection in the event of incapacity or death. The good news is that unmarried couples do have several estate planning strategies available to them to help ensure that their assets and property are protected. Here are some estate planning strategies that unmarried…
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Part 1: Understanding the Importance of Estate Planning for Unmarried Couples
I receive a lot of calls from unmarried couples seeking advice on how to protect their family if something happens to one of them. Nontraditional family structures are the fastest-growing segment of our population. So, it is important you know how to protect your partner and kids if the unexpected occurs. Unmarried couples face unique…
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Take These Simple Steps to Organize Your Estate
We want to provide for our loved ones as much as we can. Through estate planning, our legacy lives on in providing support to our loved ones even after we pass away. By utilizing available estate planning tools, you can make sure the assets and resources you have acquired over the years go to help…
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How to Make a Valid Will in Minnesota
While making a will is important, making a valid will should always be the goal. After all, a will that does not comply with Minnesota laws will not be recognized in probate court. In order to have the wishes expressed in your will effective and properly executed, there are certain things that need to be…
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The Importance of Choosing the Right Financial Agent for Your Durable Power of Attorney
When you establish any kind of power of attorney as the principal, you will need to select an agent who will assume the authority granted to them under the power of attorney. One important kind of power of attorney is the durable power of attorney. The durability characteristic of this power of attorney means that…
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When to Update Your Advance Directives
Estate planning provides important protections for yourself, your loved ones, and your goals for the future. It would be difficult to understate the importance of estate planning. It can have profound and far-reaching implications for you and your loved ones. As such, it is a process that not only should be done, but should be…
Continue reading…Estate Planning for Unmarried Couples, Protect Your Surviving Partner After Death
A Minnesota Estate Planning Attorney Explains Why Estate Planning is Crucial for Unmarried Couples Unmarried couples must take steps to protect each other in the event of a death. This means estate planning! It is very important for unmarried couples to have an estate plan in place. This is because, unlike married couples, no “default”…
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When to Update Your Advance Directives
Advance directives are an important part of anyone’s estate plan. In the event of a healthcare crisis, an advance directive can prove invaluable. Whether a person becomes incapacitated due to a medical condition, an emergency medical situation, or an accident, an advance directive helps preserve your wishes even when you cannot communicate them for yourself….
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