When we think of celebrities like Prince and Jimmy Buffett, we picture fame, fortune, and a life of luxury – not probate court, family feuds, and expensive legal battles. But even with millions of dollars and access to top-tier advisors, both artists left behind estate plann [...]
When designing your estate plan with your attorney you may encounter some or all of the following documents based on your situation and planning goals. Below are the most common estate planning documents with a brief description. Estate Planning Documents Revocable Trusts Re [...]
What Is a Small Estate Affidavit? One of the most common assumptions after someone dies is that their estate will have to be probated with the court. However, only estates where the decedent had more than $75,000.00 worth of assets or owned real property require court invol [...]
Death can be a pretty dreary conversation topic. Most of us don’t like to think about what will happen when we are no longer on this earth, much less plan for it! However, planning can give you peace of mind and ensure that you have relieved your loved ones of the burden o [...]
If you’re a lawyer, yes. If you’re not a lawyer, no. Except when dire emergency prevents the calling of a lawyer, no layperson may draft another’s will. Gardner v. Conway, 48 N.W.2d 788, 797 (Minn. 1951). In Minnesota, drafting a will for another person counts as the unauthor [...]
Receiving a diagnosis is one of the key triggers that it is time to update your estate plan. Parkinson’s disease is a progressive and unpredictable condition that affects each person differently. You and your family need to be able to ensure that if you go through a prolon [...]
An executor—called a personal representative in Minnesota—is a person or institution appointed to handle a probate estate worth over $75,000. Under a will, a personal representative is often nominated by the person who died, called the decedent. In Minnesota, a nominated per [...]
What is a Power of Attorney? A power of attorney is a written document that allows one person to act on behalf of another. Just as a written lease document casts the people involved into two new roles—landlord and tenant—a written power of attorney document casts the people [...]
Whether you are estate planning for the first time or modifying your existing plan, it is important to know these key terms. Conservatorship: DNR/DNI: Estate: All the money and property owned by a person at the time of their death along with that person’s debts and liabiliti [...]
What are the essential legal documents a person should have in place? Associate Attorney, Lauren Fink at Maser, Amundson, Boggio, P.A., suggests having at least a power of attorney, health care directive, and/or a will by the age of 18. By doing so, you are covered if a life [...]
