Minnesota Estate Planning To Protect Your Assets
We will help you plan for the future. Our experience and planning include the following:
- Wills
- Trusts (including revocable, testamentary, contingent, disclaimer, special needs and supplemental needs)
- Estate tax planning
- Beneficiary designations
- Charitable giving planning
- Cabin succession planning
- Farm and business succession planning
- Power of Attorney
- Advance directives (living wills, health care directives)
- Long term care planning
- Pre-nuptial agreements (most important for second marriages)
- Guardianships and conservatorships
The need
Don’t let the government decide what will happen to your assets after you die. There are many ways in which we can help you prepare. Depending upon your station in life, your assets, and your wishes, you may or may not need a Will, and we can help you analyze that. However, most people do need Wills and without a Will, their estate may end in disaster. For example, if you and your spouse each have children from a prior marriage or relationship, it is likely that, without a Will or proper estate planning documents in place, either your children or your spouse’s children will inherit everything and the other side of the family will inherit nothing, depending on which spouse dies first. We will help you prevent this from happening.
Review your current estate plan
Although we try to create estate plans that are flexible and remain effective when you have children or grandchildren born into the family, it is still very important to review your plan regularly, and especially after the death of a spouse, child, or other beneficiary. We offer a free half-hour initial consultation in which we will review your estate planning documents with you and provide suggested changes or confirm to you that your documents are doing what you want them to do.
Estate tax minimization
Northfield is surrounded by farms and highly valued farm land. Farmers need not own a lot of land before they encounter serious estate tax problems. That issue, combined with questions about how to fairly pass the farm on to the child who remains on the farm, requires knowledgeable estate planning guidance. We help many farmers and other types of business owners qualify to have their farm land and business property excluded from Minnesota estate tax and create a smooth succession plan to pass their businesses to the next generation.