Professional Wills and Trust Attorney
Wills and Trusts attorneys in Minnesota that provide instruction on who should serve as your executor to provide instructions for your will or trust and who should receive your assets if you should die. The attorneys at Top Law will help build a plan that will reflect your actual wishes. The plan will have built in protections that will allow you to alter what Minnesota’s state law default plan if you should not have a will in place.
Your will provides the proper distribution of your owned property by you at the time of your death in the manner you should choose. Wills can also name the guardian for a disabled adult or child, as well as whom should care for your children should you die. If a person dies without a will, Minnesota law determines who inherits the estate.
Top Law will also work with you to set up your trusts. Trusts are so that your estate will have a plan so that it can name a trustee to manage a person’s assets. It will also tell the trustee how to distribute those assets when you die. By having a Trust set up it can be beneficial in helping reduce or eliminate taxes and the need for probate court. It can also take care of your personal residence (Link to QRPT Page).
By having proper estate planning tools, wills and trusts set up by the Top Law firm we will be making sure that your desires will be honored after your death. Our wills and trusts are highly personalized so if you are thinking about setting up your Estate plan contact our law office and we will help determine the best course of action.
Who should make a Will?
Everyone over the age of 18 should make a Will. Even if you have made a Will you should review it regularly to make sure it reflects your circumstances. In addition, if any of the following apply, you should consider making or amending your Will:
. Getting married
Marriage automatically cancels a Will unless that Will specifically states that it’s been made in contemplation of that marriage. If it doesn’t, or you’ve not made a Will, the rules of intestacy will apply, and your spouse or civil partner may only receive a portion of the estate.
Unmarried partners don’t benefit at all under the rules of intestacy. Therefore, if you cohabit with someone, and you want them to benefit from your estate after your death, you should make a Will.
. Getting divorced
The effect of a divorce on a Will means that any gift to a spouse or civil partner fails, but only when the decree absolute has been made. Therefore, if you have separated from your spouse or civil partner you should amend your Will so that they don’t benefit from your estate should anything happen to you before your divorce.
. Becoming a parent
If you’re a parent, or are to become one, you should amend your Will to make sure your child or children will be looked after following your death. If you don’t set this out and an agreement can’t be made, your child(ren) would be subject to court proceedings, and the court would decide with whom your child(ren) should live.
. Receiving a windfall
If you come into some money, whether through an inheritance, a lottery win or gift, your estate may be subject to an inheritance tax liability. A properly constructed Will can minimize an inheritance tax liability for future generations.
. Owning a business
You’ll need to make provision for the business to be wound up or sold following your death.
If you are in need of a dedicated Estate Planning Attorney, please call 1-888-214-6042 to schedule a free initial consultation.
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TOP LAW is a Burnsville, Minnesota based law firm specializing in U.S. Immigration, Naturalization, Visa and Consular Law, Family Law, Divorce Law, and Estate Planning. Call Us Today! +1.888.214.6042, to schedule a time to learn more about planning for your and your family’s future.
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