What Happens if I Die Without a Will?
When a person dies, his or assets (known as the person’s “estate”) may be subject to tax if they exceed certain value limits. This type of tax is known as an “estate tax.” There is a federal estate tax that applies estates with a value over $5.49 million (the current value limit as of 2017). …Read More
Whether you are concerned about future health problems, have assets that are difficult for you to manage, or will be absent for a period of time and unable to manage your affairs, a Power of Attorney may be a valuable tool. A power of attorney is used in situations where you, the principal, are unable…Read More
Last Will, Living Trust, Living Will: What They Are & What They Do These three legal documents are often confused because their names sound similar. However, each of these documents serves a distinct purpose. Last Will A Last Will can provide crucial instructions for the administration of your affairs after your death. This includes who…Read More
Intestate Succession in Minnesota When a person dies without a valid Will, they are said to have died “intestate.” Because there is no Will to indicate what the deceased person’s intentions were, the estate will be administered according to Minnesota’s intestacy laws. Who Will Care for My Minor Children? Generally, the surviving parent will have…Read More