"Should I leave my children's inheritance to charity?" It's a question that many parents grapple with, especially when considering the needs of their children and their personal philanthropic goals. It's not just about the money—it's about the message you want to leave behind...
Naming a legal beneficiary is necessary for life insurance, annuities, qualified retirement plans, individual retirement accounts, and some bank accounts. Ideally, these assets will be paid directly to whoever you have selected as your beneficiary in the event you passed...
Life insurance is a powerful tool to ensure that your loved ones are taken care of financially after you're gone. But as life evolves, so do our relationships and priorities. A common question we encounter is: "Can I change the beneficiaries on my life insurance whenever I...
Many people mistakenly believe that without direct heirs—like children or grandchildren—there's no need for estate planning. However, the reality is quite different. Even if you don't have immediate family to inherit your assets, deciding how your estate will be distributed is...
Typically, adult children have three options when they inherit a house from their parents: they can move in, sell, or rent it out. If you and/or your siblings have recently inherited a house and don’t really know what to do, we’d suggest contacting a Minnesota estate planning...
The loss of a loved one is always a challenging time. Amidst the emotional turmoil, there are several practical tasks that must be undertaken. One of the foremost among these is obtaining the deceased's death certificate. Why Do You Need a Death Certificate?A death...
A Personal Representative, or Executor, of an estate is simply the person who is designated to carry out the wishes set forth in the decedent's will. This person also has the responsibility of finishing up the decedent's final affairs, such as paying outstanding bills and...
The probate process can seem daunting, especially when navigating the myriad of assets left behind by a loved one. While many assets pass through probate, some bypass this legal process altogether. Understanding this distinction is crucial for beneficiaries and personal...
When it comes to estate planning, ensuring that your will is legally valid is paramount. One of the key components of a valid will is having witnesses present during its signing. But why is this step so crucial? Our Minnesota estate lawyer delves into the importance of having...
When you're named a beneficiary of a trust, it's natural to have questions about your inheritance and the trustee's actions. Knowing your rights is essential in ensuring transparency and fair management. Here, our Minnesota trust attorney shed light on the powers and...
Choosing a guardian for any child is a weighty decision, but when that child has special needs, the stakes are even higher. Parents need to ensure not only a safe and loving environment but also one that caters to their child's unique requirements. An experienced Minnesota...
The decision of who to appoint as your personal representative or trustee is a huge one, and we’ve talked about it a bit in the past. Still, it’s important to make sure that you have the information you need to make the right choice with your Minnesota estate...