Minnesota Wills Attorney & Minnesota Trusts Attorney

Why do I need a will?

Can I draft my own will?

What are the advantages of having a will?

What is a testamentary trust?

What are the advantages of a trust?

What is a holographic will?

Who will get my property?

What is the procedure for getting a will drafted by an attorney?

What is intestacy?

What are the requirements for a basic will?

 

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Why do I need a will?
 

You need a will in order to plan for what happens to your property after you pass away. A properly drafted will allows you to choose who gets property from your estate. If you do not have a will your property will be disposed of by the intestacy laws of the state of Minnesota.

 

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Can I draft my own will?
 

You can draft your own will in Minnesota, but it is important to comply with all the will formalities. In some cases using a “do it yourself” will may be more expensive than consulting an attorney given the tax and estate planning consequences of an improperly drafted will.

 

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What are the advantages of having a will?
 

Having a will can reduce the cost of administering your estate making it easier for your family to wind up your affairs. A will also allows you to choose who will wind up your affairs as the personal representative of the estate.

 

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What is a testamentary trust?
 

A testamentary trust is used as an estate planning tool in conjunction with a will. A trust places property in the hands of a person called a trustee who uses that property for the benefit of a beneficiary as directed by your will.

 

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What are the advantages of a trust?
 

The advantages of using a trust in conjunction with a will are to protect trust beneficiaries from spending all their inherited property, trusts help with tax planning, to provide management for your assets, avoid court supervision, trusts also provide more privacy regarding your assets.

 

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What is a holographic will?
 

A holographic will is created by the testator (person making the will) and is entirely handwritten, dated, signed, and without witnesses. This type of will is not recognized under Minnesota Law.

 

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Who will get my property?
 

With proper estate planning using wills and trusts you can choose what happens to your property during and after your life.

 

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What is the procedure for getting a will drafted by an attorney?
 

At Bolinske & Bolinske we have our clients fill out a client questionnaire that will give us the information we need to properly draft estate planning tools our clients. After the client completes and returns the client questionnaire we set up a meeting to discuss what our client wants to accomplish with their will, trust, or estate plan.

 

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What is intestacy?
 

Intestacy is when a person dies without a properly drafted legal will. If this happens your property will be distributed according to Minnesota statutes.

 

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What are the requirements for a basic will?
 

In order to create a basic will that is recognized by Minnesota Statute Sec. 524.2 you need to be eighteen years old, the testator (person making the will) must be of sound mind, the will must be written, the will must be signed, and the will must be witnessed by two qualified witnesses.