Wills and Trusts

Minnesota Will and Trust Lawyer

Everyone needs a will. Many people believe that because they are not wealthy, they do not need to plan their estate. This is not the case. Even ordinary people own a house and car, and have a bank account or a retirement plan. Most people are worth more than they think. Without a will or trust, the relevant statutes divide the decedent's property in a one-size-fits-all distribution scheme that may or may not fit you our your family's circumstances. The estate planning process allows them to avoid this and control the distribution of their assets.

In addition, individuals need to identify the persons who would take care of their children if they died suddenly. This is especially important when the family includes very young children or kids with special needs. Parents usually prefer to name guardians for their children rather than have the court appoint someone. Knowing that the children will be raised by someone who shares their beliefs and attitudes offers peace of mind to parents.

Perhaps even more important than a will, every individual should have documents in place that plan for his or her unexpected temporary or permanent incapacity. These include a power of attorney for financial matters (to pay your bills and manage your assets until you regain capacity) and a health care directive giving your designated agent authority to make and communicate your health care decisions in both terminal and non-terminal situations.

At Steven H. Snyder & Associates, we use a number of mechanisms to develop plans that meet the needs of clients, including:

• Wills, which describe how you want to divide your property and care for your children
• Trusts, including testamentary minors' trusts, irrevocable life insurance trusts, education trusts, and special needs trusts. Trusts are frequently used to manage assets for minor beneficiaries, minimize estate taxes, protect assets, and contribute to charitable organizations. They can be either revocable before the death of the trustor, or irrevocable
• HIPAA authorizations, which allow your spouse or other authorized person to receive your health records should you be critically injured or ill and unable to make decisions for yourself
• Powers of attorney, which permit the authorized person to handle your legal and business affairs if you should become incapacitated
• Health care directives, or living wills, describing your wishes for care during temporary incapacity or at the end of life

In addition to preparing a comprehensive estate plan, our will and trust lawyers assist with the probate of the will or the administration of the trust after the death of our client. Contact us at 763.420.6700 to learn how we can assist with any estate planning and probate matter.