Tag Archive for possessions

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..

14 Misconceptions Regarding Estate Planning

Mistake #1: A Will controls the distribution of all of the deceased’s possessions. Reality: The Will only controls the distribution of the deceased’s “probate estate”. Not included in the probate estate are jointly held property, transfer on death (T.O.D.) accounts, payable on death (P.O.D.) accounts, and property that passes based on beneficiary designations. For example, life insurance proceeds and retirement benefits pass based on beneficiary designations. » Read more..