Pour-over wills are an essential part of creating an estate plan for those that choose to use a living trust. A pour-over will can act as a backup to the living trust, ensuring that any assets not in the trust are moved there after you pass. An estate plan is meant to determine what happens to your assets once you’re…
A large part of creating your estate plan consists of knowing what will happen in the probate process. Probate is the legal process of dealing with a deceased person’s assets and debt, including the court that oversees it and the assets’ actual handling. The purpose of probate is to make sure a person’s will is honored and any liabilities, like…
When you’re creating your estate plan, you’ll want to distinguish between the different types of wills in Minnesota. Knowing the difference between a will codicil and a new will is essential to ensuring you have the proper documents for your wishes to be met. Once you’ve written your will, you can make small changes to the original document using a…
Probate is a legal process that involves a person’s assets after they die. If you have a detailed estate plan, including a last will and testament, what happens to your assets should be pretty straightforward for your beneficiaries. If not, or if there are arguments surrounding the will or beneficiaries, a probate court could be involved to settle these disputes.…
Estate planning is the legal process of preparing for the future. Though it can feel morbid to think about what will happen when you die, estate planning will make everything easier for your loved ones. Creating a plan shows you care about them and makes it straightforward for family or friends to follow your wishes. Estate planning covers many different…
Generally, people don’t like to talk about their own death, much less plan for it. Although it’s only human to fear the end of your life, you should still be aware of the consequences for your loved ones that outlive you, especially if you have debt. Have you ever thought about what happens to debt when you die? Or what…
There are a myriad of ways to take care of your belongings and assets before you die to ensure they go to the right people and are properly cared for. Wills and trusts are the two most common ways to do this. A will outlines how a person wants their estate to be dealt with after they die and who…
Most people have strong opinions about how they would like to be treated in an emergency medical situation. Especially if this emergency means they’re unconscious and can’t be consulted about life-altering decisions. It is for situations like this that everyone needs to have a living will. If you’re wondering, “What is a living will? Why is it important to have…