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If investigating estate planning for the first time, you may come across lots of new terms. One you may hear is a payable-on-death account or POD for short. What are they, and could you benefit from using one? PODs help ensure your money gets where you want faster...
A 401(k) can be worth a lot of money to your family when you die, especially if you die before having had time to draw on it yourself. Therefore it’s crucial to ensure that money gets to the people you want. One mistake a lot of people make is to forget to update...
Some families do not discuss money. That can cause problems when it comes to estate planning. If you are making your estate plan, you might want to consult your children first. Here is why: You can take their wishes into account Have you ever gone to great lengths to...
One of the things that incentivizes many Minnesotans to put their estate plan in place is the wish to prevent their estate from having to go through probate. That can be a long, stressful, costly process for grieving loved ones. With knowledgeable planning, you can...
When you get a pet, you’re taking on a long-term obligation. This is why many parents have their children get fish or other pets that don’t require a lot of attention and that don’t live for many years, just to get them used to the idea of caring for a pet. Buying a...
When the testator of an estate plan dies, as the appointed executor, you will assume your duties. In addition to handling immediate jobs, including registering the death and arranging the funeral, you will take the will to probate to authorize the distribution of the...
When planning the future of your estate, you want to ensure that your assets are protected and can be passed down to your loved ones without complications or loss. That's where trusts come into play. Unlike wills, these estate planning tools can help protect your...
If you are single, your estate planning concerns will typically be different than a married couple’s. But every adult should have at minimum a will that names an executor and a medical power of attorney. Below are some tips for single individuals who are contemplating...
Estate planning is a process that ensures that your assets are properly handled after your passing. This process is often complicated and there are many things you’ll learn along the way. If this is the first time you’re making an estate plan, here are some things you...
There are many things to consider when creating your estate plan, such as executors, advance care directives and trusts. Another essential component is naming a power of attorney (POA). But is having one POA enough? Different POAs for different functions A power of...