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We generally recommend that clients have their estate plan documents reviewed every five years.  If there is a major change to a client’s financial or family situation, the plan should be reviewed at that time to ensure that it is still meeting the client’s needs.

Probate is the legal process, after a person passes away, to determine if the decedent had a will and to determine the validity and interpretation of the will.   As part of the probate process, the Court will appoint a Personal Representative who will have authority to gather the assets of the deceased person’s estate and make distribution consistently with the Will.  If there is no will, the Court will determine that the decedent died intestate (without a will) and the Court will make a determination of the decedent’s heirs as provided by Minnesota law. 

Estate planning is important for everyone, without regard to their wealth or age.   If you do not have a plan in place, the state has a plan for you.   By having the right attorney prepare your estate plan, you can ensure that your wishes are honored after your death and take steps to simplify the administration of your estate.   For many of our clients, proper planning can also eliminate or reduce estate tax liability after death.  

A complete estate plan includes the following documents:

• A Will or Trust:   A will is designed to ensure that your assets will be passed on to the proper beneficiaries and name a Personal Representative to administer the assets after your death.   Another option that suits some of our clients is an Estate Plan that features a Revocable Living Trust that is designed to eliminate the need for a probate administration after the client’s death.   your primary assets go to the proper beneficiaries. The right trust can also minimize estate tax liability for individuals with larger estates.
• Power of attorney: A Power of Attorney allows our clients to name another person to have authority over your finances during your lifetime.   This is especially helpful when a client has circumstances that may make it impossible or difficult to sign a document.   
• Health care directives: Our firm prepares Health Care Directives, for no additional charge, to all clients who retain our firm to prepare a Will or Trust.   It is important that your Heatlh Care Directive be prepared by your lawyer, not the hospital’s lawyer, to ensure that the people you trust have authority to make medical decisions when you are unable to express a preference.

Jay A. Benson has over 30 years’ experience in representing estate plan clients.  We offer a free initial no-obligation consultation.

Clients can generally expect to see draft copies of their estate plan documents within two weeks of retaining the firm’s services.   If there are questions, Mr. Benson is available via email and he strives to return phone messages within 24 hours.