Why Worry About Estate Planning?
Many mistakenly think that estate planning is only for the wealthy. However, many families can benefit from setting up a trust and everyone needs to have a will and other estate planning documents in place to ensure their legacy is protected. Without documents in place explaining where you want your money to go, there are certain default rules under Federal and Minnesota law about where assets go. Also, without estate planning documents, a Minnesota estate must go through probate, unless it is an estate of less than $50,000.00.
Our Minnesota Estate Planning Attorneys can assist you in setting up plan.
An estate plan starts with a Will. A Will is simply an expression of where someone wants their assets tog upon death. However, simply having a Will does not necessarily help to escape probate. However, a Will does help the court know what beneficiaries the deceased intended to send assets. Without a Will, Minnesota law decides how the estate will be distributed. Under Minnesota law, the estate passes to your spouse. And if there are no relatives to locate or nothing named in a will, assets are deposited with the country treasurer.
- Drafting and personalizing Wills and Trusts
- Preparing Probate Documents
- Creating documents for Long Term Health Care
- Drafting Durable Power of Attorney's
- Preparing Health Care Directives
Our Estate Planning Services
Drafting & Reviewing Trusts
At Klun, our experienced Minnesota Estate Planning Attorneys can help you draft a trust from scratch, to protect your assets and your loved ones. We can also review a trust that has already been created and help you update it and administer the trust to beneficiaries when needed. We can help you to decide between an irrevocable trust and a revocable trust. An irrevocable trust allows you to transfer ownership of assets on a permanent basis. An irrevocable trust helps to protect assets from your creditors and avoid certain taxes and the probate process entirely upon death. Our knowledgeable attorneys can assist you through drafting and reviewing a trust.
Creating & Personalizing Wills
At klun, our Minnesota Estate Planning Attorneys can help you spell out your wishes as to what to do with your assets after your death. A will is the document that explains what you want to do with your assets upon death. The “testator” is the person for whom the will is made. The testator declares in his or her will whomever they want to administer the will. That person is known as the “executor”. The executor uses the will after the death to make sure assets are placed where and with whom the testator wishes. Unfortunately, simply having a will in place won’t help you avoid probate. At Klun, our knowledgeable attorneys can help you put all the right documents in place to protect you and your assets.
Preparing Necessary Documents & Procedures for Probate
At Klun, Our Estate Planning Attorneys and Lawyers can help your family get through the difficult process of probate after a death in the family. Filing probate paperwork in Minnesota starts with the Application for Formal or Informal Probate. We can help you with the process if you are appointed as the personal representative by your family member.
Additionally, we can assist you with notifying creditors, inventorying property and distributing the estate. We will help you every step of the way so you can concentrate of healing from your loss while we take care of the paperwork and court appearances.
Drafting a Durable Power of Attorney, Guardianship, or Conservatorship
At Klun, our expert Estate Planning Attorneys can draft legal documents with care. We can help you and your family with a durable power of attorney. A durable power of attorney allows a third person to make decisions for someone who has become incapacitated. The incapacity can be physical or mental. A durable power of attorney typically stays in place only while the incapacitated party remains incapacitated or it can be set up to last for a longer period of time.
Our Attorneys at Klun can also assist you with drafting a durable power of guardianship. Guardianship may be temporary, for a specified period of time or permanent. Guardianship can be over a minor, until they become an adult or a disabled person who cannot care for themselves. We can also assist with conservatorship. Conservatorship allows a person appointed by the Court to manage property for an individual who is unable to manage their own affairs. Guardianship and conservatorship require a court hearing. Let us take care of the paperwork and court hearings in these matters while you care for your family.
Preparing a Healthcare Directive
A healthcare directive is a document that lets your doctors and family know what your preferences are regarding your healthcare. You can specify what type of treatment you want, including resuscitation, surgeries, end-of-life care and organ donation. You can specify what treatment you want to receive and declare a health care proxy to make decisions for you if you are not able to make decisions for yourself. At Klun, our experienced Estate Planning Attorneys can help you draft this important document to make sure your wishes regarding your health care are respected.
Creating Documents for Long-Term Health Care Planning
One of the most difficult conversations to have when planning for the future is discussing long-term care. Long-term care refers to getting help caring for a loved one when they can no longer care for themselves and need nursing home care or in-home care. There are many ways to plan for long-term care, including life insurance, estate planning and long-term care insurance. At Klun, we can not only help you with all the planning and paperwork involved, we can also help with decisions about what kind of care is needed for a family member.
Resolving Issues Regarding the Guardianship of Minor Children
Guardianship of a minor gives an appointed person legal custody of a person under the age of 18. Guardians are not always family members related to the minor child. Toi become a guardian, there is a court hearing required to become guardian to a minor child. There may also be annual reviews and termination documents that need to be filed over the years. If you need to enter into a guardianship arrangement and need assistance with the paperwork, you should give us a call. Our Minnesota Law Firm has caring Family Law Attorneys who can assist you with this issue.
Negotiating Issues Involving Jointly Owned Property
When parties split up, whether they are a business partnership breaking apart or a couple divorcing, the issue of splitting apart jointly owned property can be difficult. Sometimes a partner will want to sell their half of the business to the other partner or a spouse will want to buy out their soon-to-be-former spouse as part of a divorce settlement. We can help you to negotiate this difficult terrain. Not only can we help write the contracts, but we can also help negotiate a deal for you with your soon-to-be-former partner or spouse. We have talented and caring attorneys at Klun who can assist you with these negotiations. Call us today for an appointment.