Minnetonka Estate Planning & Probate

Dedicated Estate Planning & Probate Attorney for Minnetonka

Hardworking Estate-Planning Attorney Helps Minnetonka Families Plan for the Future

Estate planning and probate can significantly affect your loved ones’ futures. Preparing their lives for after your passing by planning your estate can help ensure that your loved ones will have a secure future long after you’re gone.

Helping Minnetonka Residents Plan Their Wills

If you die without leaving a will, Minnesota state’s inheritance laws help decide the details of dividing your estate. This would normally entail that your property goes to your closest relatives, with your husband or wife and children coming first in the line of family members. If you don’t have a spouse and/or children, your property will either go to your grandchildren, parents, brothers and sisters, or more distant relatives.

Planning Trusts for Minnetonka Families

Minnesota state law defines a trust as the entity managing asset distribution after your death. A trust is created when property is transferred by the owner (i.e. you) to another person, who becomes the trustee). A trustee can be a financial professional, a relative or friend, or a specialized trust company. Your trustee holds your property title and manages your estate on behalf of your beneficiaries. It helps to get legal advice on all dimensions of your trust.

Offering Powers of Attorney Advice in Minnetonka

Minnesota state law lets you designate any adult of sound mind to make decisions on your behalf. That person is your attorney-in-fact and has power of attorney to decide on all financial aspects of your estate. Anyone you choose to have power of attorney on your behalf should have common sense, dependability and trustworthy.

Setting Health Care Directives in Minnetonka

A health care directive is a document that informs your loved ones of your health care wishes in the event you can’t communicate them. This directive lets you choose a person—or “agent”—to decide on health care matters on your behalf. We can provide advice on what circumstances you should plan for, and what the legal process will look like.

Litigating Probate for Minnetonka Residents

Probate is the process through which your estate is distributed and executed by law. If you haven’t written a will by the time of your death, a judge will decide how your assets will be divided via the probate process. Probate may even be needed in some occasions when a will has been written, depending on how assets were held as of the date of your death.

Formal vs. Informal Probate

Informal probate proceedings in Minnesota could involve your personal representative paying any outstanding debts and inheritances without the court’s supervision. In order to execute an informal probate, an application must be prepared that includes your interest in the proceeding along with the decedent’s name, date of birth, and the county in which they lived when they died. The application must also list the names and addresses of the decedent’s spouse, children and heirs, as well as the name and address of the decedent’s personal representative.Formal probate in Minnesota generally involves large estates and requires courts to make certain determinations. Formal probate matters can either be supervised or unsupervised by a Minnesota court.

If you and your family is currently establishing a will and/or trust, or if you just have questions regarding estate planning, probate, powers of attorney and/or health care directives, call Waldron Law Offices, Ltd. at (952) 471-0940 for a free consultation today.