Minnesota Estate Planning Attorney

Incapacity and passing away are not easy to think about, but creating a comprehensive estate plan is one of the most important steps you can take to protect yourself and your family, both now and in the future.

An estate plan can direct your assets to be distributed as you wish after you’re gone, can provide crucial financial protection for your loved ones, and can ensure your wishes for your health and finances are honored should you become incapacitated before passing.

At The Law Shop Minnesota, our diligent estate planning attorney team is committed to helping individuals and their families navigate the complexities of the estate planning process. No matter the size of your estate, we will help you create a personalized plan that will reflect your unique wishes now and into the future.

Tailored Estate Planning Services to Give You the Peace of Mind You Need

An estate plan can ensure your assets will be distributed in the way you wish after your passing. Depending on the tools you use, it can also minimize your estate taxes and help your loved ones avoid the probate process in court. Without at least a will in place, your assets would be distributed in accordance with intestate law, which might result in consequences you had not intended.

At The Law Shop Minnesota, our skillful and compassionate estate planning attorney team will discuss your options and help you create an estate plan that will give you the peace of mind you need. Some of the estate planning tools that can help you accomplish your objectives include the following:

• Wills — A last will and testament is the foundation of every estate plan. It can direct the distribution of assets to your named beneficiaries, nominate an executor (also called a personal representative) who will administer your estate, and nominate a guardian for your minor children.
• Trusts — A trust is an estate planning vehicle that can allow you to bypass the probate process in court and distribute your property directly to your chosen beneficiaries. There are many different types of trusts available, depending on your specific goals. In addition to transferring property, trusts can be used for asset protection, tax efficiency planning, Medicaid planning, and providing for a loved one with a disability without impacting their eligibility for government benefits.
• Beneficiary designations — A beneficiary designation directs funds to be transferred directly from a financial account to the chosen beneficiary.
• Power of Attorney — A power of attorney ensures your wishes are honored if you’re unable to act for yourself. Unlike a will, it can take effect immediately or upon incapacity. At The Law Shop Minnesota, we draft customized, enforceable powers of attorney to give you peace of mind

Once you have an estate plan in place, it’s essential to review it periodically and update it if there are any changes in your family or financial circumstances. Our estate planning attorney team will take the time to learn about your goals and discuss the strategies that are available to ensure they are achieved. We will help you draft legally sound documents and work with you to update them when necessary, so that they reflect your current situation and wishes for the future.

Helping You Plan for the Unexpected Event of Incapacity

Unexpected events or illness can arise at any time. This is why a comprehensive estate plan should also include a plan for incapacity. While a last will and testament only goes into effect after your death, an incapacity plan can help ensure your wishes will be carried out in the event you can no longer make healthcare or financial decisions for yourself.

At The Law Shop Minnesota, we work with individuals of all ages and their families to ensure they have the necessary documents in place to protect them in the event of incapacity, including the following:

• Healthcare power of attorney — A healthcare power of attorney allows you to designate a person who will make medical decisions on your behalf if you can no longer do so for yourself.
• Advance directive — An advance directive specifies your preferences for medical treatment and end-of-life care if you are unable to communicate them yourself.
• HIPAA authorizations —A Health Insurance Portability and Accountability Act Authorization (HIPAA) gives a medical professional the authority to disclose your medical information to the person you name in the document.
• Financial power of attorney — A financial power of attorney gives a person of your choice the authority to pay your bills, manage your investments, file tax returns, and handle other financial matters.
• Revocable living trusts — A revocable living trust can allow you to give a successor trustee the authority to manage assets titled to your trust if you become incapacitated.

By having an incapacity plan in place, you can help your loved ones avoid the need for lengthy and costly guardianship or conservatorship proceedings in court to determine who will make decisions for your healthcare and handle your finances if you are unable to do so yourself. Our knowledgeable estate planning attorneys will work closely with you to create a plan that is tailored to your specific needs and avoids pitfalls that could impact its enforceability.

Contact an Experienced Minnesota Estate Planning Attorney

If you are beginning the estate planning process or need to update a current plan, the estate planning attorneys at The Law Shop Minnesota can help. Located in St. Paul, we are dedicated to providing high-quality and cost-effective estate planning services for clients throughout the state. Contact us online or call (651) 344-6100 to learn more about how we can assist you with your estate planning needs.