We’ve discussed the idea of challenging the validity of a will before, including some creative ways to prevent such challenges like no-contest clauses. This time let’s discuss the subject of a will’s validity but from another side, let’s focus on some of the issues that can make a will invalid and how to avoid them….
Minnesota Estate Planning: What’s The Difference Between A Will And A Trust?
If you’re reading this article chances are you have heard the terms “will” and “trust.” Though the words are frequently bandied about, they are often used without much explanation. While most everyone is passingly familiar with the terms, it’s likely that few truly understand the differences between the two important Minnesota estate planning tools. The…
Minnesota Estate Planning And The Purpose Of A No-Contest Clause
The last thing anyone wants to imagine is that once you’re dead and gone your loved ones members turn on each other and fight over the estate. That is why Minnesota estate planning is so important. The unseemly thought of family members bickering or even suing one another for a larger share of an estate…
Minnesota Estate Planning: What A Will Won’t Do
Minnesota Wills are wonderful things. We’ve discussed before how important it is to create and update a Minnesota will and how a proper estate plan can help to ensure that your wishes are carried out after you’re gone. While the benefits of a will are undeniable, the fact is wills do not do everything. Though a…
How to Find and Select a Corporate Fiduciary in Minnesota
If you live in Minnesota and are thinking about creating a trust or drafting a will, one of the most important steps in the process is choosing a person or entity to act as your fiduciary. In the context of a trust, that means choosing a trustee. For a will, this person is known as a personal representative….
What are the roles in a Minnesota Trust?
One confusing aspect of any discussion about the creation of a Minnesota trust is terminology. Lots of people are unfamiliar with the lingo and with good reason. After all, it’s not everyday that a person establishes a trust fund to manage their estate. To help unravel some of the mystery surrounding the creation of a…
Minnesota Probate Estate | What are Laughing Heirs?
A recent news article about a probate fight going on in Dallas, Texas prompted the following look into an interesting concept known as the “laughing heir.” The dispute in Texas revolved around a case where a man died without a will and a lengthy process (more than a year) of identifying all possible relatives ensued….
What is a Trustee of a Minnesota Trust and what does one do?
If you live in Minnesota and you’ve created or are considering creating a trust to help manage your estate then you’ve likely encountered the term “trustee.” You might be wondering what exactly a trustee is and how they function. If so, you’ve come to the right place. Without further ado, let’s dive in. What is…
Establishing A Special Needs Trust In Minnesota
If you are a parent you likely spend time worrying about whether your children will be well taken care of once you’re gone. You probably want to know that you’ve done what you can to ensure they are protected as children and that once they are old enough, they will be able to function independently…
IRA, Joint Accounts, and Contingent Beneficiaries In Minnesota
Estate planning in Minnesota often touches on some pretty interesting subjects. Death, inheritance, disputed estates and health care directives are pretty hot button issues. Other times, however, estate planning is a little on the dry side. One example of a more mundane subject is the following article discussing contingent beneficiaries. Though the subject may sound…