Who needs estate planning? Many people think that estate planning is only for the rich. This is not true. Almost everyone can benefit from a Will. If you do not have a Will, the state will dictate how your assets are distributed and your estate will most likely be subject to the costs and expenses of going through probate.
Why not just print a Will off the Internet? Unfortunately, many of the forms off the Internet are not compliable with Minnesota's laws. Also, the laws of estate taxation change every year as Congress makes changes. Internet forms often do not reflect this. In addition to drafting documents, I offer clients advice on which choices to make, explain things to them and assist them if something goes wrong. Most of the time, I can offer a set price to a client on the phone.
What are the benefits of a trust? A trust in conjunction with a Will can help provide money for the care of young children or a disabled person. Also, a trust can help prevent beneficiaries from spending all their inherited property and they can help minimize taxes.
What happens after a close friend or relative dies? If there is a Will, the person named as the executor will be in charge of administering the estate. This person is typically appointed the personal representative of the estate or person in charge of managing the estate. If there is no Will, the court will choose someone to be the executor/personal representative-typically the closest living relative.
Why do I need a lawyer if I am the executor or personal representative? It is difficult enough to deal with the emotional issues associated with the death of a close friend or relate without the legal stress. For a flat fee, I will guide you through the process from start to finish. I will answer your questions, make sure that the forms are completed correctly, help make sure that the assets are distributed correctly and ultimately save you time and money.
If you have further questions about estate planning, probate, wills or trusts - please call me for a free consultation.
Kathleen M. Browne, JD
1386 Camelback Drive, Eagan, MN 55123, US
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