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Estate Planning

Estate Planning

An estate plan is an important part of your family's financial and emotional security. It gets your assets to the right people in the right way with the lowest tax consequence possible.

Wills and Trusts

If your children are grown, a simple will may be all that you need in order to properly get your property to the right people.  If you have minor children, you need a will that puts your assets into a trust for your children.  A trustee will manage the trust assets until the date of trust distribution (after the child turns 18).

Supplemental Trusts and Special Needs Trusts

If you are disabled or you have a disabled child, a Special Needs Trust or a Supplemental Needs Trust can help provide support people with disabilities while protecting eligibility for public assistance benefits.

Whether you need a simple will, a trust, or more advance tax planning services, Kari S. Swalinkavich can help you plan your asset transfers in a way that minimizes taxes and gets your assets to the right people.

Some elements of an estate plan are put in place to help your family make end of life care and financial decisions while you are alive.  

Health Care Directive

If you are unable to make health care decisions for yourself, even for a limited time, a Health Care Directive allows you to appoint a Health Care Agent to make health care decisions on your behalf and provide documented detailed instructions on your health care wishes if you are no longer able to communicate those wishes.  Parents should urge their unmarried children over the age of 18 to have a Health Care Directive.  Once your child is 18 years old, you may not have the right to direct health care for them.

Power of Attorney


If you are no longer able to handle financial matters on your own, a Power of Attorney will allow you to designate someone to do so on your behalf.  A Power of Attorney can also be used if you are planning a vacation or going away to college and need someone to handle financial matters for a limited period of time.  A Power of Attorney is a very powerful document so you should always consult an attorney if you think you may need one.

Probate

Probate is the legal process of settling someone’s estate after they die if they own real property.  The assets must be collected and inventoried, bills must be paid, and remaining assets must be distributed to the heirs of the estate.  Probate can be lengthy and costly and it is important to hire a Probate Attorney who can minimize the length and cost of a probate proceeding.

Don't leave the most emotionally difficult decisions to the most emotionally difficult times.
 
Take care of your family by establishing an estate plan today.


Serving clients in Chanhassen, Chaska, Deephaven, Excelsior, Greenwood, Hopkins,  Independence, Long Lake, Loretto, Maple Plain, Medina, Minneapolis, Minnetonka Beach, Minnetonka, Minnetrista, Mound, Orono, Plymouth, Shorewood, Spring Park, St Bonifacius, Tonka Bay, Victoria, Wayzata, Woodland
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