Orono Estate Planning and Probate Attorney
Orono Estate Planning & Probate
Estate planning and probate can have a significant affect on the financial well-being of your loved ones. Securing their future for after you pass away by planning your estate is a profound way to show you care.
Helping Orono Residents With Wills
Minnesota’s inheritance and estate laws offer guidance on how your estate will be divided if you haven’t left a will by the end of your life. In most cases your spouse and children will inherit the estate. In the absence of a spouse and/or children, your parents, brothers and sisters, or more distant relatives may be in line. Attorney John Waldron can put his many years of experience to work to advise you on what’s needed to plan your will.
Planning Trusts for Orono Families
According to Minnesota state law, a trust is an entity that distributes your assets after your pass away. A property owner—or trustor—creates a trust when their property is transferred to a trustee, who can be a financial professional, or a relative or friend. You can also hire a professional trust company. Your trustee’s is charged with holding your property’s title and managing your estate for your beneficiaries. Attorney John Waldron can give you experienced advice on how to best plan your trust.
Offering Power-of-Attorney Advice in Orono
Minnesota estate regulations lets you designate an attorney-in-fact to make decisions on your behalf. The person to whom you give power of attorney can decide on all financial aspects of your estate—so they should be someone dependable that you can trust. Attorney John Waldron can offer competent advice for your power-of-attorney issues.
Health Care Directives in Orono
Your health care directive is designed to instruct your family on how to act on your health care in the event that you can’t communicate with them. It lets you choose someone to decide on your health situation on your behalf. Attorney John Waldron can help you create a directive that fully conforms to your preferences.
Litigating Probate for Orono Residents
Probate begins when an application is filed with the probate court, and ends when all debts and taxes are paid, and assets are divided between designated beneficiaries. If your will is contested, a Minnesota probate judge resolves the dispute. With Attorney John Waldron, you get competent advice on your probate needs.
Formal vs. Informal Probate
During an informal probate your personal representative may pay all outstanding debts and inheritances outside of court. Informal probate starts with an application that outlines 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 include 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.
Large estates usually need formal probate, and requires courts to make certain determinations. These matters can either be fully supervised or unsupervised by a Minnesota court.