Estate Planning Service
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We all know that growing old and death are topics people often avoid or simply refuse to think about. All too common, people avoid making the important decisions while they have the capabilities and their loved ones are left to handle legal matters or make difficult medical decisions in a time of grief or stress.
We can ease the process of preparing your estate and you can feel secure in knowing that your wishes will be carried out in a manner you dictate. Having a will and health care directive will provide you peace of mind and can also ease the burden on your family and friends who are eventually left behind.
Common Estate Planning Service |
Why do I need a Will? |
The main reason is to avoid probate and have the ability to decide what happens to your assets and possessions instead of the Court. Proper estate planning advice can also help avoid paying additional taxes.
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What is a Health Care Directive? |
A Minnesota Health Care Directive allows you to: 1) appoint a person who can make health care decisions for you; and 2) clearly inform others of your health care wishes. Only one document is required, however it must be carefully drafted to effectively meet your goals and wishes. Although it is an unpleasant topic, everyone should have this.
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When does my Will Need to be Updated? |
It is important to update your estate plan to ensure it is keeping up with the changes going on in your life. Below are just of few changes that can have an impact upon your estate plan.
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Birth or death: family member or potential beneficiary |
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Divorce: you or a beneficiary |
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Retirement |
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Financial Changes |
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Property Changes: purchase, sale or transfers |
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Fiduciary or Beneficiary Changes: personal representative, successor trustee, financial power of attorney; health care agent |
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Tax Law Changes |
Remember, the general rule is every 3-5 your existing will should be updated. If you have any questions about the need for an update please call me and we can discuss your plan.