Minneapolis is known for its lakes, parks, cultural landmarks, and diverse communities. When individuals, couples, and families need assistance with estate planning, they come to Unique Estate Law. We provide first-rate estate planning services to clients from all walks of life, including members of the LGBTQ+ community.
Lead attorney Chris Tymchuk is not only a well-respected estate planning attorney but is also an empathic person who serves her clients with dignity and compassion. When you meet with us, you will find a welcoming environment where you can make informed decisions about your financial future. Contact our office today to get started with an experienced estate planning attorney.
Assisting Minneapolis Residents With All Their Estate Planning Needs
At Unique Estate Law, we believe estate planning is for everyone – no matter your family or financial status. Whether you need a will to protect your new family or a more complex trust-based plan to preserve your wealth, we can help. We have extensive experience preparing essential estate planning documents, including:
- Wills and Trusts
- Powers of attorney
- Advance Directives for Health Care
- Living Wills
- Guardianships
A will is the most basic estate planning tool that determines how your assets will be managed and distributed after your death, names an executor to administer your estate, and designates a guardian to care for your minor children. Most people understand the importance of having a will; however, less than half of adults in the US have one.
Notably, a will must go through a probate proceeding, which can be expensive and time-consuming, depending on the size of your estate. For this reason, we work to help many of our clients to establish various trusts to be used in tandem with a will.
For example, a revocable living trust takes ownership of your property while allowing you to continue managing it during your lifetime. The trust assets transfer to your beneficiaries when you pass without the need for probate, although all trusts must go through an administrative phase to carry out their terms.
Another type of trust is irrevocable, which cannot be modified, altered, or revoked. There are different irrevocable trusts to achieve objectives such as providing for a loved one with special needs, planning for incapacity, or leaving a charitable legacy. Irrevocable trusts are beneficial in that they avoid probate and protect your assets from estate taxes and creditors’ claims.
Estate Planning for Same-Sex Couples in Minneapolis
Although marital equality is recognized in Minnesota and around the country, same-sex couples and LGBTQ families have unique estate planning challenges. Suppose you pass without a will, family members attempt to interfere with the medical decisions of your partner, or a custody dispute arises over nonbiological children. It takes a knowledgeable and compassionate estate planning law to protect your rights and interests.
At Unique Estate Law, we proudly serve the LGBTQ+ community in Minneapolis. As a gay-owned and operated estate planning practice, we understand the challenges facing you and will help you find innovative solutions.
First, wills are equally important for married same-sex couples and those who are in committed relationships but are not married. According to recent U.S. Census Bureau figures, of the 980,000 same-sex households reported, 58 percent were married couples and 42 percent were unmarried partners.
Having a will is crucial, regardless of whether or not you are married. Without one, your assets will be distributed according to the intestacy laws of Minnesota, which prioritize surviving spouses, parents, and children. So if you are in a same-sex relationship and have yet to marry, your partner’s inheritance rights cannot be established without a will.
Moreover, many LBGTQ estate planners can also benefit from establishing trusts to ensure that their assets are properly and seamlessly distributed. In addition, same-sex couples must formalize their wishes about who can make financial and medical for partners who become incapacitated or unable to communicate by creating a durable power of attorney and advance directive for healthcare.
Finally, complications may arise concerning your children and guardianship if you die unexpectedly, especially in cases where one or both spouses have children from a prior marriage or one partner has adopted a child but the other has not. You can depend on us to explore all your options for protecting your child’s future.
Probate and Estate Administration Lawyer
At Unique Estate Law, we advise clients throughout Minneapolis on probate and estate administration proceedings. Probate is the court-supervised process for administering a person’s estate and distributing their assets after they pass away. If you have been named the executor of a loved one’s estate, we can assist with carrying out your duties, such as:
- Filing a petition with the probate court to validate the will
- Notifying the heirs named in the will
- Conducting an inventory and appraisal of the assets
- Settling estate debt with creditors
- Filing the decedent’s final income tax returns
- Distributing the estate assets to the beneficiaries
- Closing the estate
We also advise clients about the estate administration process that is necessary when someone dies without a will. We can help you petition the court to be appointed estate administrator and faithfully carry out your duties.
Contact Our Experienced Minneapolis Estate Planning Attorney
At Unique Estate Law, we love what we do and we care about our clients. We offer transparent, flat-fee pricing and cost-effective services. Contact us today to arrange a free consultation.