Tag Archive for family keepsakes

Is an Estate Plan Necessary?

estate-planThe sentiment – “I don’t care what happens after I die because, after all, I’ll be gone.” – typically doesn’t work well in reality.

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..

“Mine, and That’s Mine, Too”

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..

12 Reasons Why You Need a Will

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..

7 Steps to Help Prevent Arguments After You Die

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..

Why You Need an Estate Plan

Consider these consequences if you die in Minnesota without an estate plan: » Read more..

Questions to Ask Your Parents

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:

  1. Do you have a Will?
  2. Do you have a Health Care Directive?  » Read more..

Do Your Kids Know Where Your Assets Are?

For various reasons, you may not want your kids to know your financial affairs and other business while you’re still in control, but the day will come when they’ll need to know.

That day may come because you start showing signs of dementia and need their help, or it may be at your death. » Read more..

Why You Need an Estate Plan

Consider these consequences if you die in Minnesota without an estate plan:

  •  If you and your spouse die while your children are under age 18, the State of Minnesota will select a guardian for them, and you may not like the state’s choice. Solution: A Will enables you to nominate a guardian for your minor children.
  •  As soon as they turn age 18, your kids will get access to all of the money and property that they inherit from you, and they’ll be able to spend the money however they wish.  Solution: A Trust can be written to control the ages at which your children gain access to the money and property that they inherit from you.  » Read more..