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From the category archives: RB Legal - Golden Valley MN Blog

Trust

What Do You Do When A Loved One Dies?

A loved one died three weeks ago. You are the designated trustee, personal representative, or closest relative. You have notified family, friends, and employers. You have held the funeral or memorial service. You have secured the decedent’s home and possessions. You have looked for or located their estate planning documents, if they had them. Now what do you do?

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Top 5 Reasons A Trust Is A Good Idea For Married Couples

For married couples creating an estate plan, a trust may be a better option than a will. Trusts offer protection of assets during the couple’s lifetime as well as after the death of one of both spouses. Many kinds of trusts offer many kinds of protection. Why should married couples consider a trust?

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Donating to Charities Through Wills, Charitable Trusts, and Beneficiary Designations

September 5 is International Charity Day. You may have causes or organizations that you care about. As a result, you may want to leave money or other resources toward accomplishing the goals so important to you. It is not enough to verbally tell someone about your wishes. You need to specifically express your wishes through creating and implementing an estate plan.

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Top 4 Reasons Why Single Adults Should Have A Trust

If you become mentally or physically incapacitated, who do you want to manage your assets until you are able to do so yourself? Provisions in a will do not take effect unless you die. A trust, on the other hand, can take effect at any time. It can designate when and under what conditions a trustee can step in to arrange for your care, access your assets to provide that care, and manage your finances through your incapacity. The provisions can save you and your family thousands of dollars as well as avoid court proceedings and a court-appointed guardian.

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5 Reasons Why Families With Any-Age Children Should Have A Trust

If you or your spouse dies, when it comes to providing for surviving children, sometimes a will is not enough to protect their inheritances. This is where a trust comes in. Trusts are not just for the wealthy. A trust is a legal entity that can own property and assets. Through the instructions you write into the trust, it can buy, sell, negotiate, manage, and disburse its assets for the benefit of your children. It gives you a lot of control after you pass away.

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BLENDED FAMILY? ESTATE PLANNING: What's the right mix for a blended family?

There are all types of blended families. Generally, a blended family is defined as a family that is formed when adults join in a new relationship and both parties have children from previous relationships. My sister-in-law is an example of another type of blended family. She and her new husband both had children from previous marriages; in addition, her new husband was parenting his step-daughter who lived with him after her mom passed away. I have another friend who is raising her grandchild as her own. The trials and tribulations of these families have been celebrated in TV shows and movies such as Yours, Mine and Ours, Cheaper By The Dozen, Modern Family, The Brady Bunch, The Blind Spot and even Cinderella. Cinderella is a great example of the challenges that happen without estate planning. It may have ended happily ever after, but there were a lot of problems before “ever after.”

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College Bound? Don’t Forget to Pack a Power of Attorney

This blog article is for all the young adults leaving for school this fall. Congratulations! It is an exciting time for you! However, there are a couple of things that are likely not on your packing list, but that you should include in your bags before you leave home. Parents, you may want to read this, too!

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New Parents? It’s Time for a Will.

If you are a new parent or an expecting parent, it’s time to create a Will and start working on your estate plan. Having a Will in place can give your children protection should something happen to you and your spouse. Estate planning can ensure that your property and money, and more importantly, your children are taken care of according to your wishes. Even after you are gone, a Will is a way to make sure that your wishes are carried out legally and efficiently, ensuring that your loved ones are provided for with the least of financial responsibility.

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Why You Should Keep Your Small Business Attorney on Retainer

When something in your business happens, you need to be able to address it quickly. You might not have time to call an attorney, set up an initial consultation, determine if you like them, and then move forward on your project. In business, you need to make things happen. That’s what having an attorney on retainer can do for you.

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4 Things You Need to Know About Equine Law

Owning horses can be an incredibly fun hobby, as well as a business, that allows you to spend a great deal of time with these intelligent and beautiful animals. However, there are some basics about equine law that every horse lover should be aware of.

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