It's Never Too Early to Plan Your Estate
"Planning my estate" likely ranks with "going to the dentist" among things people look most forward to doing.
But just as your teeth may fall out if you don't take care of them, the bottom may fall out of your financial legacy if you wait too long to use the estate planning tools at your disposal.
Reppe Law PLLC, in Northfield, Minnesota, has extensive experience in helping Minnesotans draft wills, plan for their nursing home care, and complete the many steps involved in creating a solid estate plan. For a free consultation with a lawyer, contact us online or at 507-581-5720.
Dakota County/Rice County Probate Attorney
One of our primary goals of any estate plan is to help clients avoid probate actions in court. If your assets aren't properly secured by a will, trust or other planning instrument, a probate judge can end up dispersing them to your survivors according to legal formulas, rather than your wishes. Probate actions are also notorious for being expensive and time consuming.
Our experienced estate planning attorneys can work with you to establish one of the following estate planning tools to protect your financial legacy from probate:
- Wills and trusts. A will memorializes your wishes in writing, including who will receive your money, land, house, heirlooms and other important possessions. An irrevocable trust enables you to devote money toward a purpose and then protect it from taxation and probate. Such trusts can be used to fund for a minor child's education, or pay for nursing home care for you or a loved one.
- Estate administration. You may select an estate administrator or trustee to manage your estate if you die or are no longer able to make your own decisions. If you wish to hire an attorney to perform this function for you, we can do so, and help you avoid probate in the process. We can also ensure any estate taxes are paid to the IRS.
- Powers of attorney. You may also grant a power of attorney to appoint a representative for the management of your assets, to sign legal documents if you are incapacitated or die, or to act in your stead for financial or health care decisions.
- Health care directives/living wills. If you'd rather not appoint someone to make your health care decisions, you can memorialize your wishes in a health care directive. This document can specify medical care you wish to receive or not receive. When such documents limit the medical care that one can receive at the end of life, they can be called "living wills.
- Guardianships/conservatorships. You can appoint a guardian to take care of the financial and general well being of an incapacitated spouse or minor child. If you wish to only appoint a person to manage financial aspects on behalf of someone, you can appoint a conservator.
- Medicaid planning/asset protection. Many Minnesotans feel forced to choose between retaining their assets or qualifying for Medicare assistance. While Medicare recipients must meet certain income thresholds, there are various, perfectly legal means by which you can qualify for Medicare and retain assets for yourself, your loved ones and your survivors.
Discounts on Bundled Estate Planning Services
Reppe Law PLLC, offers discounts on estate planning and other services that are purchased together. Rather than wait until the last possible moment to plan for the inevitable, why not visit us instead?
You can leave our offices with a cost-effective and comprehensive estate plan that can prepare you for any contingency, yet at a cost that is considerably less than you might find at a Twin Cities law firm.
Save Time, Save Money, Call Reppe Law PLLC, Today - 507-581-5720
Our experienced Northfield estate planning attorneys put your needs first. Contact us in Northfield, Minnesota, today.
