While we are naturally tempted to avoid considering the possibility of an accident or sudden illness, a small amount of planning now can ease the burden for the future and provide piece of mind. I will support and guide you and your family in having what can at times be difficult conversations in order to create the right plan for you. Upon signing their final estate planning documents, the families I work with often feel a sense of satisfaction that they have done something good and responsible for their family – a sense of relief that their loved ones will be taken care of even if something happens to them.
While we all benefit from an up to date estate plan, it is especially important for those in second marriages, unmarried partners and individuals, and those with young children.
Thorough and effective estate planning includes more than a simple will. It is important to not only communicate who receives money and cares for children upon death, but to plan for the event of incapacity.
Without an estate plan, upon your death your assets will pass to your heirs as defined by Minnesota law, which may or may not coincide with your wishes. In addition to achieving your objectives, estate planning may also reduce the amount of estate tax paid, and ease the burden on loved ones following your death – in appropriate circumstances the legal probate process can be avoided entirely.
You might have other goals, such as confidentiality, which can be achieved through a trust or other means. After discussing your goals and describing the available options I will help you determine the best strategy for your needs. In addition to drafting the appropriate documents, I provide advice on safekeeping, when to review your documents, and other ways to make it easier for your family in the event of your death.
Contact me to discuss the best Estate Planning options for your situation.