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If a family member or friend has asked you to serve as trustee or executor, carefully consider your answer. The role they are asking you to fill is a serious one, with both legal and moral obligations. If you do not wish to serve in this capacity you have the right to...
When choosing an executor, it is important to pick someone who has both your personal trust, as well as your trust that they can handle a high-pressure, high responsibility job. But what jobs do executors have, exactly? They are more numerous and crucial than one may...
After you die, your estate may need to go through the probate process. Probate refers to the legal process of transferring property to the correct beneficiaries following the death of the estate owner. According to the Minnesota Judicial Branch, whether an estate goes...
After you die, your estate will likely undergo the probate process. This legal process involves formally recognizing the existence of a will and appointing the executor to administer the estate. Once the probate process concludes, according to the American Bar...
During the estate planning process, an individual names a personal representative to manage his or her affairs after death. This representative must act as a fiduciary when managing the estate, putting its best interests before his or her potential financial gain....
You may find that there’s a problem with a trustee you have named in your Minnesota trust. Depending on the circumstances, you may want to remove that trustee. There are five key reasons to remove a trustee from your trust. Failing to comply with the terms of the...
Minnesota residents have likely read many media stories about bitter disputes between the relatives of celebrities who died without leaving behind a last will and testament. The legendary singer James Brown avoided this mistake by putting a complex estate plan into...
People in Minnesota make wills in order to ensure their property is passed on after their death according to their wishes. However, in order for a will to be considered valid during the probate process, it must meet certain standards. This may come under additional...
Just like every family in Minnesota is different, so is every estate plan. Although disinheriting a child is unusual, there are many different reasons why some parents choose to do it. In many cases, disinheritance occurs not because of a rift in the parent-child...
At some point after you have made a will in Minnesota, you may decide that you need a different executor. This could happen because your relationship with the executor changed or for many other reasons. If this happens, you would need to make an update to your will....
