St. Paul & White Bear Lake Minnesota Estate Planning Lawyer
Estate planning can feel intimidating, but it’s really about making sure your loved ones are cared for and your wishes are honored. A clear plan saves your family stress, money, and conflict down the road. Below are some frequently asked questions about wills and estate planning in Minnesota
Do I need to be wealthy to have an estate plan?
Not at all. Estate planning is often thought of as something only the very wealthy need, but in reality, it benefits almost everyone. Even if your main assets are a house, a vehicle, and a savings account, planning ensures those assets pass to the right people without unnecessary delays. It also allows you to appoint decision-makers for your children or health care if you’re unable to do so.
What happens if I die without a will in Minnesota?
If you pass away without a valid will, your estate is distributed under Minnesota’s intestacy laws. That means the state decides who inherits your property, based on a preset formula. While it usually prioritizes spouses and children, it might not reflect your wishes. For example, an unmarried partner or stepchildren could be left out entirely. A will gives you control instead of leaving the decision up to state law.
What’s the difference between a will and a health care directive?
A will covers how your property is distributed after you die. A health care directive, on the other hand, lets you name someone to make medical decisions if you’re unable to and outline your wishes for care. Both are vital documents that serve different purposes, and they work best when created together as part of a larger estate plan.
Can I name a guardian for my children in a will?
Yes. One of the most important functions of a will for parents is naming a guardian for minor children. Without a named guardian, the court will decide who raises your children. Naming someone in your will gives you peace of mind that your children will be cared for by the person you choose.
How often should I update my estate plan?
As a rule of thumb, review your estate plan every 3–5 years. You should also revisit it after major life events like marriage, divorce, the birth of a child, or purchasing real estate. Laws and tax rules can change, too, which may affect how your plan works.
What other documents should be part of my estate plan?
Beyond a will and health care directive, many people benefit from:
- A power of attorney for finances, so someone can manage money or property if you’re incapacitated.
- A trust, which can help with probate avoidance, privacy, or special instructions for how assets are managed.
- Beneficiary designations on accounts and insurance policies to ensure they transfer directly.
Take the First Step Today
You don’t have to be a millionaire to benefit from estate planning. Taking a few steps now can protect your family, simplify the legal process, and ensure your wishes are respected. Sheila Kelly can help you put together a plan that’s clear, affordable, and tailored to your situation.
