If you live in St. Louis Park and need comprehensive estate planning services, turn to Unique Estate Law. We are dedicated to providing our clients and the communities we serve with the highest standards of professional excellence.
Lead counsel Chris Tymchuk is not only a highly skilled estate planning lawyer but also a compassionate person who understands the challenges individuals and families face in protecting their assets. Well-versed in Minnesota’s estate, trusts, and probate laws, our legal team is well-prepared to guide you through every step of your estate planning journey.
Whether you need assistance creating a will or a trust or administering a loved one’s estate, Unique Estate Law is here to provide informed representation and caring, efficient service. Reach out today to set up a consultation.
Why Estate Planning Matters for Everyone in St. Louis Park
You might believe that estate planning is exclusive to the wealthy or those with children, but this isn’t the case. Everyone has an estate, and it’s essential to have a plan in place. At the same time, estate planning involves much more than just determining who inherits your assets. It’s about securing your financial future, ensuring your wishes are respected, and being ready for both the foreseeable and unforeseen events in life.
At Unique Estate Law, we regularly advise clients on all aspects of estate planning, including:
- Wills
- Trusts
- Planning for children
- LGBTQ+ estate planning
- Incapacity planning
- Special needs planning
- Guardianships
- Probate/estate administration
Our services go beyond preparing legal documents. We provide actionable advice and will tailor your plan to your unique estate planning objectives. Above all, we will provide the informed representation you need and the personalized attention you deserve.
Estate Planning Basics
A will is a foundational estate planning document that determines how your assets will be managed and distributed after you pass. A will allows you to designate an executor to administer your estate and appoint a guardian to care for your minor children if you are the sole parent. Without a will, the court will step in to make these decisions that may not align with your wishes. In other words, every adult in St. Loius Park needs a will.
A will is a good start, but it is also crucial to create incapacity planning documents. For example, a durable power of attorney allows you to name a trusted person to handle your personal and business affairs – paying bills and housing expenses, managing bank accounts, property, and investments – if you become temporarily or permanently incapacitated.
In addition, creating an advanced directive for healthcare is essential. This legal document designates a healthcare representative to make medical decisions on your behalf if you suffer an incapacitating injury or illness.
Let Unique Estate Law help you create these essential estate planning documents and explore all your options for protecting your assets and preserving your legacy.
St. Louis Park Trusts Attorney
It’s a common misconception that trusts are only beneficial for those with significant wealth. In reality, trusts serve numerous purposes for a wide range of individuals. They can protect your assets, ensure care for a loved one with special needs, and assist in planning for potential incapacity. We can help you explore various trust options:
Revocable Living Trust
A revocable living trust allows you to transfer ownership of your property into the trust while retaining control over it during your lifetime. Its primary benefit is avoiding probate, as the trust owns the assets, not you. This type of trust is also instrumental in incapacity planning, appointing a successor trustee to manage your assets if you’re unable to do so, whether temporarily or permanently.
Irrevocable Trust
In contrast to a revocable living trust, an irrevocable trust is set and cannot be changed or revoked once established. This trust type also bypasses probate and offers protection against creditors’ claims, potentially reduces estate taxes, and can fulfill specific goals like caring for a family member with special needs or leaving a charitable legacy.
Our firm is here to guide you through trust formation and management, ensuring your estate planning aligns with your unique needs and goals. Let’s work together to create a secure and thoughtful plan for your future and the well-being of your loved ones.
St. Louis Park Probate Lawyer
Being named an executor of a loved one’s estate is both an honor and a significant responsibility. As an executor, your role is that of a fiduciary, entrusted to act in the best interests of the beneficiaries. You can rely on our team’s experience in probate matters to assist you in diligently fulfilling your duties, which include:
- Notifying beneficiaries and heirs about the decedent’s passing
- Taking inventory and appraising estate assets
- Settling the decedent’s debts with creditors
- Filing the decedent’s final income tax returns
- Addressing federal estate taxes, when applicable
- Distributing the remaining assets to the beneficiaries
- Closing the estate
Additionally, if a loved one has passed away without a will, we will guide you in petitioning the probate court to appoint an estate administrator. This role is similar to that of an executor who will manage the estate according to Minnesota’s intestacy laws. Whatever your situation, partnering with an experienced attorney for guidance through the probate and estate administration process is a prudent decision.
Why Choose Us?
At Unique Estate Law, you’ll discover a warm and inviting atmosphere where your active participation in estate planning decisions is highly valued. We have comprehensive knowledge of the relevant trust and estate laws and are committed to helping you make informed decisions. Our estate planning attorneys combine vast experience with genuine compassion. We prioritize your needs and concerns, dedicating ourselves to offering informed legal representation paired with the personalized attention you merit. Trust us to guide you with precision and care.
Talk To An Experienced St. Louis Park Estate Planning Attorney Today
Whether planning your estate for the first time or updating an existing plan, you need the advice and guidance Unique Estate Law provides. Contact us today to schedule a consultation.