Safeguarding Your Rights And Future In Legal Storms
When it comes to estate administration, some people are unsure of which steps to take next after the death of a loved one. However, it is imperative for those who have the responsibility of managing an estate to ensure that the process is approached properly and that assets are distributed according to the wishes of the deceased. For people who…
When it comes to estate planning, there are a wide variety issues to take into consideration, from asset valuation to heirs and power of appointment. In Hennepin and throughout the state of Minnesota, those who are concerned about wealth protection and the proper distribution of assets should make sure they comprehensively understand the ins and outs of their estate plan…
Minnesota residents who are asked to be the executor of a loved one’s will may wonder what is involved in the process. Being an executor is a serious responsibility that requires the person in the role to be thorough and honest as they administer an estate. One of the first steps an executor must take after the death of the…
For some people in Minnesota, the primary valuable asset they may want passed on after they die is real estate. Real estate may be the residential home in which the person lives or it may involve other real estate holdings. It is possible to ensure the real estate held passes to the person’s intended beneficiaries without necessitating the expense and…
As Minnesota residents may know, probate is the process through which an estate is settled and property is transferred. Generally, this method assures the validity of a will as well as providing a vehicle for cataloging assets as well as identifying and appraising them. Once debt and any taxes owed by the estate are paid, the remaining assets are dispersed…
Minnesota residents who own a second home may need to account for that property in their estate plan. This is important even if they do not use the property, but other family members do. After the owner of the property passes on, it may be difficult or impossible for other family members to jointly own the property. Failing to have…
Individuals in Minnesota who are concerned about the disposition of their estate after they die should keep in mind that there are a number of errors they must beware of regarding beneficiaries. One of the most common is failing to update the beneficiary designation after major life events like births, deaths, remarriages and divorces, but there are many others. Individuals…
Probate is the court-supervised process of distributing a person’s assets on death. Probate laws vary from state to state, but they generally require an examination of estate assets and payment of debts before distributions to heirs or beneficiaries. Minnesota’s probate laws apply to the estates of Minnesota residents as well as to real property within the state of Minnesota, regardless…
Minnesota residents contemplating the most appropriate approach to estate planning for their needs may want to focus on the probate process as they make decisions. Probate is defined as the process of proving that an individual’s will is valid, determining who the heirs are, handling the appointment of legal responsibilities such as conservatorships or guardianships where incapacitated or minor individuals…
Minnesota residents thinking about their estate plan might want to start planning for their ‘digital estate.” With so many people storing so much data in various email accounts and social networking sites, transferring these digital assets has become a new area of estate planning. The failure to plan for the fate of digital assets could result in information being either…