Minnesota residents understand that it is not uncommon for people to get into disputes. Whether it is between a friend, a colleague or a family member, their disagreements could range from a small tiff to a major uproar. In some cases, arguments often involve disputes about a person's property. Unfortunately, it does happen from time to time that family members get involved in will contests or other probate litigation after a person has died and left behind property.
Minnesota residents who have been through the process probably know that probate can be a frustrating and time-consuming experience, particularly when a person is also grieving the loss of a loved one. Unfortunately, with tensions already high among family members, sometimes what starts as a simple miscommunication or frustration can escalate into even more stressful probate litigation.
Many residents of Saint Paul, Minnesota, may have heard about other estate planning techniques that do not require the writing or filing of a will. Many often try to sell people on the benefits of these alternative techniques by telling them that they will help a person's family "avoid probate" after they are dead and gone.
In Saint Paul, Minnesota, and around the country, more people have to draft estate plans that account for more than one marriage. Oftentimes, a person who is making their final plans will want to leave something both for a current spouse and adult children from any prior relationship.
Many residents of Minnesota, especially those who read this blog, are probably familiar enough with estate planning to know that typically a person uses a will to pass on property to those whom he or she chooses. However, there are other mechanisms of estate planning available. Joint property, payable on death accounts, IRA's, insurance policies and trusts are all means by which a Minnesota resident can pass his or her bounty on to others.