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Creating an estate plan, naming beneficiaries and updating the documents regularly will help ensure that your assets are distributed based on your wishes after you pass away. However, what happens if someone dies without a will or named beneficiaries? How will their...
Estate planning is an important topic that many people find intimidating. Nobody relishes the prospect of contemplating what happens if they pass away. However, the benefits of providing security for your loved ones far outweigh any drawbacks. One key aspect you will...
When there are assets left in a person’s estate that have no way of passing on to an heir or beneficiary without the court-based probate process, those assets are probate assets. Probate assets do not have their own beneficiary designations, so it’s unclear how...
A loved one recently passed away. When the will was read, you discovered that they have named you as the estate executor. Unfortunately, you're unsure exactly what type of obligations this is going to put on you or what you're supposed to do next. How do you perform...
Estate planning is something that all individuals should know about, regardless of gender. Men and women need to know what steps they can take and what's going to be required. They need to think about how they can make things go well for their family as they move...
After someone dies with valuable personal property or real estate in their name, their remaining assets become their estate. That estate will need to pass through Minnesota state probate courts. The will, trust or other estate documents will receive a judicial review,...
You don't avoid probate by writing a will. Instead, the will helps direct the probate process. The court oversees this as they divide your assets and take other steps to ensure that your will is followed. There are two different types of probate that may be used. It's...
Unlike humans, animals cannot inherit. This is because the law considers pets as the property of someone. Thankfully, there is a way around this in Minnesota as in many states. If you want to provide for your pet in your estate plan, you need to create a pet trust....
When someone dies, the property that was once theirs becomes the property of their estate. The executor or personal representative of the estate will need to go through probate proceedings to properly handle the assets and debts someone leaves behind when they die....
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...