Estate Planning Protects Your Family’s Future
Estate planning is important for all adults, whether they have young families with children or are older adults with more assets to protect. Unfortunately, too many people put off estate planning and leave their families with many questions and problems when they pass away.
At Kufus Law, LLC, we can simplify the estate planning process for you. We understand that it can be overwhelming to consider what will happen to your estate and family after you die. However, with an experienced attorney’s help, you can make informed decisions about the distribution of your assets and the welfare of your loved ones. Our firm offers a package of services that includes a will/trust, powers of attorney and health care directives for Minnesota residents.
Components Of A Strong Estate Plan
A complete estate plan may include the following elements:
- Wills and trusts
- Special needs trusts/supplemental trusts
- Powers of attorney for financial and heath care decisions
- Health care directives
Wills specify the distribution of property and other assets after your death. In a will, you name beneficiaries of each asset and appoint an executor or personal representative to manage the distribution. You can also name a person(s) as the legal guardian of your minor children and create a trust inside of the will for the children.
A trust is a legal document for assets and property to pass to another party outside of the probate process. Trusts also provide more control over how an asset will be managed after your death or after it passes to the beneficiary. Because there are numerous types of trusts, we will discuss the types that are applicable to your needs when we meet with you.
Powers of attorney for financial and heath care decisions are a crucial part of an estate plan. You will appoint people to manage your finances and property and to make health care decisions on your behalf if you are incapacitated.
Health care directives allow you to specify decisions regarding your end-of-life care and give those to whom you give powers of attorney a clear plan to follow if you are unable to participate in these critical conversations.
Begin Your Estate Planning Today