It is common for people to procrastinate about estate planning, and many adults have their own explanations for why they put off this important process. In some cases, people find the variety of options overwhelming. They overcomplicate estate planning, which prevents...
Estate Planning Blog
3 drawbacks of pooled special needs trusts
Creating a special needs trust for a vulnerable loved one can give people peace of mind. Parents and others invested in the life of someone unable to manage their own affairs generally want to ensure that person has support for the rest of their life. A pooled special...
Trusts can help families supporting an addicted loved one
People in different situations may need different estate planning resources. For example, those who want to leave their property primarily for their children and other close family members often think that a will is all they require. They can name beneficiaries for...
3 important estate planning updates to make after a divorce
An estate plan offers protection for dependent family members after someone dies. Certain documents can also protect individuals during emergencies or long-term incapacitation. Those who get married, have children and acquire valuable property often put together...
3 options when starting a special needs trust
Many parents and other caregivers in Minnesota provide support for someone with a disabling medical condition. Individuals born with conditions like Down syndrome or autism may have lifetime care needs that exceed those of neurotypical children. Countless others may...
Could student loans eliminate someone’s intended legacy?
Personal debt can have a strong, negative impact on someone's legacy. What they leave for their loved ones when they die may decrease substantially because of their financial obligations. Hospitals that provide end-of-life care, credit card companies and other...
What are some differences between a will and a trust?
Writing a will is a central step to take when creating an estate plan. It can be the basis for the broader plan, and many people think of it as their entire plan. In other words, if they are going to start doing their estate planning, they believe this means they just...
Estate planning matters relevant to new parents
Bringing a new child into the world means taking on a lot of responsibility. Children are expensive and require financial support. They also require 24-hour care and supervision. Those anticipating the birth of a child often have a very long list of tasks they must...
3 reasons to create and fund a special needs trust
Those who have a loved one with special needs must often focus a lot of their energy and resources on that individual's care. Rather than taking care of a child until they turn 18, parents and other family members may need to embrace lifelong responsibilities for...
How parents in Minnesota can prevent sibling probate disputes
Parents in Minnesota who are putting together estate plans usually want to have a positive impact on their children. However, many parents understandably worry that estate administration issues will cause problems for their loved ones. Not only is probate a...