Minnesota Estate Planning Lawyer
Wills are tools to plan for the future of your estate. During your lifetime, everything that is accumulated will become part of your estate at the time of your death. How your estate is distributed to family and loved ones is determined by your estate plan.
Setting Up an Estate Plan
An estate plan provides the legal mechanism for transferring property upon your death in a manner which recognizes your wishes and the needs of your survivors. For many people it also involves creating a plan which will take care of essential obligations and affairs in case of disability and critical personal medical choices which sometimes must be made towards the end of life. Estate planning is not merely for the prosperous, it is necessity for anyone who wishes to be taken care of in old age and ensure that loved ones are cared for once you pass.
It is possible, and often happens, that an individual dies without an estate plan. Minnesota law provides for the distribution of the estate at that time in line with family relationships; the provisions in the statute transfer property to one’s spouse first, then children, then other family if it is not fully distributed yet.
In some cases, an individual’s intent is in line with the statute. However, if you want to transfer property to an individual not in your family or make specific distributions of your assets, estate planning is necessary. Moreover, you are always able to change or revoke a will and can make sure that it always matches your intentions. Contact the Estate Planning attorneys at Heimerl & Lammers to discuss your options in planning your estate today.
For more information, check out our estate planning FAQs page.