Creating a well-thought-out estate plan is really your last gift to your family. Without such a plan, your relatives may be cursing you for the unnecessary mess that you left behind rather than having sufficient time to grieve your death and navigate ways to cope without you. » Read more..
Archive for Personal Property
Probate in Minnesota does take some time and does cost some money, but typically it’s not the legal equivalent of a root canal.
Even if you specifically state in your Will or Trust that your spouse is disinherited, your spouse may claim as much as half of your estate if the two of you were married at least 15 years. The spouse is entitled to lesser percentages if the spouses were married to each other for fewer years. » Read more..
When the second parent dies, the fights over personal possessions can derail any sense of family harmony.
In fact, the kids may appear to regress to fights and tactics more common among 3-year-olds. It may sound as though the kids are each saying: “Mine, and that’s mine, too”.
Why? Certain household goods and personal items can be emotionally priceless to the kids even when the financial value of the item is next to nothing. » Read more..
There are at least 12 reasons why Minnesotans need a Will.
Reason #1: Keep control. The Minnesota Legislature has established a plan in state law for what happens to your assets if you do not have a Will. That plan may be contrary to your wishes, and may not be the best for your family. You are in control if you create a Will. » Read more..
How can you increase the odds that your children won’t fight over the family assets?
Children don’t always fight after their parents’ deaths. However, lawyers handling probate (estate administration) matters see fights more often than you might think.
Here are 7 steps that you can take to help prevent arguments after you die. » Read more..
Consider these consequences if you die in Minnesota without an estate plan: » Read more..
Sometimes it’s hard for family members to get the conversation started regarding estate planning, so try these questions as an aid to this important discussion:
- Do you have a Will?
- Do you have a Health Care Directive? » Read more..
When raw emotions — due to grief and decades-old disputes — obstruct the ability of family members to settle an estate and move on, try mediation. » Read more..
Odds are that you have assets that are not covered by your Will, and that’s not necessarily a bad thing.
Your Will covers your “probate” assets only. Your other assets are called “non-probate assets”. » Read more..