Do I Need a Will and Revocable Trust? Estate planning is crucial for individuals looking to secure their assets and provide a clear guide for their loved ones after they pass away. In Minnesota, the two primary tools for estate planning are a Will and a Revocable Trust. Understanding these options can help you make…
Category: Minnesota Will
Minnesota Probate Law and Procedures
Minnesota probate law and procedures govern how the probate process is conducted within the state. Below, I’ll provide an overview of some key aspects of Minnesota probate law and procedures: Jurisdiction: Probate matters in Minnesota are typically handled by the district court in the county where the decedent resided at the time of their death….
Do You Need a Will in Minnesota?
Do You Need a Will in Minnesota? | Reasons Why You Need a Will Even if You Think You Don’t Though no one in your family might be prompting you to procure a will, you may still find one handy. Minnesota Wills surpass income brackets and assist people of all walks of life. As long…
Opening a Probate Case – Things To Prepare For
Opening a Probate Case – Things To Prepare For Preparing for a probate case might be just what you need to do. Maybe you wanted to do this earlier since you feel overwhelmed or perhaps it’s because you’re always wanting to plan ahead. So, here are a handful of things that you should plan on…
Getting Letters Testamentary | Minnesota Probate Law
On Getting Letters Testamentary If you’re the executor or personal representative for someone else’s will, you’re probably going to need the letters testamentary as soon as possible. That’s almost a guaranteed notion. You’ll find the reasons why and how to get a copy down below. When someone asked you to be their executor, they might…
Why estate planning is necessary | MN Estate Law
Why Estate Planning is Necessary Assets are only one of many parts of estate planning. Leaving behind good memories and protecting your children are two small sections of the many things that you can do with the right documents. How many assets you have shouldn’t dictate whether or not you should seek out an estate…
What it means to be a Conservator in Minnesota
What it Means to Become a Conservator in Minnesota Finances are funny things. After each of us has been here long enough, there’s the possibility that we’ve wished that we had a little extra help with money at one point or another. Conservatorships are one such form of help. While having a conservator probably doesn’t…
Proper Trust Accounting in Minnesota | Duties of Trustees
What is a proper trust accounting in Minnesota? Under Minnesota trust code, a trustee of a revocable or irrevocable trust, in Minnesota, must conduct a “trust accounting” and serve the same upon any beneficiaries or other “interested parties” of the trust. (As an aside, I will not go into what the term “interested parties” means…
Tax Identification Numbers | Minnesota Trusts and IRS
Taxes and Minnesota Trusts Many new estate planning clients have lots of questions about taxes. After all, who wants to pay taxes? Mainly, people want to know how to avoid taxes when they die. Although there are a number of tax planning “strategies” that can be discussed in every new estate planning consult, it is…
Minnesota Requirement to Probate a Will
Questions about the Minnesota requirements to probate a Will? Read on for an article of what exactly this Minnesota “probate” process is, what it entails, and what the requirements are. Minnesota, like many other states, relies upon it’s own particular version of The Uniform Probate Code. What is this code? Basically, it is a uniform,…