An estate plan is essential for the proper distribution of assets according to someone's wishes. Estate planning can also help avoid a future family disaster down the road. Usually included in an estate plan are wills, trusts and a power of attorney. A power of attorney is one of the most crucial components for Minnesota grantors to have in a well-organized estate plan.
Estate planning is an important part of becoming an adult. It is a responsibility that many people leave until they reach a certain life event. This might be graduating from college, buying a home, or having a child. However, it is important that anyone over the age of 18 takes steps to ensure their wishes would be followed if the unexpected was to happen.
The law and technology are always in a state of tension, since technology can evolve quickly and the law may drag behind. Often we find ourselves trying to apply decades or centuries-old legal rules to a totally new situation, and sometimes it is hard to find the right answer.
For many Minnesotans, charitable giving is something that we strive to do each year, tucking away extra money that we have in order to pass it along to organizations doing work that we support.
As many Twin Cities readers are likely aware, a new law allowing same-sex marriage in Minnesota took effect this past week. Minnesota's legislative change along with the recent Supreme Court decision extending federal benefits to same-sex couples will have wide ranging impact, including a signficant change in the area of estate planning.