Minneapolis, MN Estate Planning Blog Articles

Guardianship can provide essential support and protection for adults of all ages. As such, it’s a valuable tool for special needs planning strategies.

When it comes to charitable giving, most donors think of cash—its liquidity and immediate benefits make it a go-to option. Yet, there are many more long-term strategies that include greater benefits for the donor and charity.

A revocable trust allows assets correctly transferred into the trust during the grantor's lifetime to bypass probate. This can simplify asset distribution and help preserve privacy.

Revocable living trusts avoid the costs and time associated with the probate process. They’re also private documents, unlike wills filed with courts. They can be more easily amended as circumstances change. However, with a revocable living trust, beneficiaries may not have the needed cash flow at death and the trust will only protect the assets that have been transferred to it.

Estate planning ensures that your children will have the future you want for them no matter what happens to you.

Married couples often ask how to choose between a joint trust or separate trusts when planning their estate. While a joint trust offers simplicity, separate trusts provide greater control, especially in second marriages, creditor protection, or estate tax planning. The right choice depends on your unique financial and family circumstances.