An estate planning attorney can help you establish a will and minimize taxes through proper estate planning. A will serves as instructions to the probate court regarding how an individual wants to have his or her property distributed at death.
An estate planning attorney should provide personal attention in preparing wills and advise clients to keep them up to date as circumstances and the laws change.
Careful tax and legal planning is the most vital step an individual or business can take to protect assets and pass them on as desired. An array of complex legal rules, potential liabilities (including taxes and long-term medical expenses), and even litigation can destroy hard-won financial accomplishments.
We provide highly experienced, reasonably priced will and estate planning services along with attorneys experienced in related areas of law:
Your Minnesota estate planning attorney can assist you in a broad range of transactional matters including:
In addition, we can assist clients in litigation matters encompassing all these fields.
A Conditional Will is a will that you create in a situation where you are unsure if something may happen to you. Moreover, a conditional will takes effect only when a specific condition in a will happens.
A joint will as its name describes is a will that include two people, usually a husband and wife. This type of will is not created often nor is it recommended because of the complexities that can arise from it tying together two people.
A nuncupative will is a will that deals only with personal property and is recorded orally. It is similar to a deathbed will because it is often used by people who are terminally ill and not able to revise or create a will.
In most cases, if a will is not contested the court will accept it without needing testimony of witnesses. However, for the convenience of the witnesses sometimes it is beneficial to create a self-proving will because it certifies that the witness and testator signed the will correctly. This takes away the need for the witnesses to potentially half to testify in court.
A statutory will is a very simple form of will that allows the testator to fill in blanks and check boxes in order to determine the content of the will. This type of will does not give you much control over the specifics of your will and because of this, in many cases, it is not effective because the testators are not able to customize the will to fit their particular needs.
While written documents are still required for the will making process, it is becoming more popular for those creating wills to supplement the written document with video. This can be done to make the will more personal when it is released to the beneficiaries.
A codicil is a legal document that gives you the ability to change a specific aspect of your will without changing the entire thing. This gives you the ability to make minor changes without having to start over and create a completely new will.
A deathbed will is created by a person who is facing imminent death. These are often created quickly and add some risk as to whether or not everything will be accurate. Also, they may be frequently contested, based on the argument that the person is not in the proper state of mind to create a will.
Living wills are often used in order to give instructions regarding health care if a person becomes incapacitated. The instructions may include consent to or refusal of any health care, treatment, service, procedure, or placement. It also may designate a proxy to make decisions on your behalf.
A pour-over will may be necessary for someone who has already created a trust into which all of their assets are going into after their death. The pour-over will makes sure that if any of the assets are forgotten, they will become part of the trust as well, after the death of the trustor.
A simple will is, as the title describes, the most basic will that very few, if any, complexities outside the necessities of a will. This type of will gives the testator the ability to distribute the assets of their estate and not much else.
A testamentary trust will is essentially a revocable living trust that instead of existing on its own is written into a will. The trust, like the will, will not go into effect until after the death of the testator. Then, similar to other kinds of trusts a trustee designated by the testator will control the distribution of the assets to the beneficiaries.