Minnesota Wills Lawyers & Attorneys

Creating a will is an important aspect of estate planning. Without a Will, the cost of transferring assets to your loved ones after you pass away will increase. This means that fewer assets will be left behind for your family to benefit from. The language of the will also has a strong bearing in how assets are divided and how any legal issues regarding the division of assets will be handled. That is why it is important to have an experienced attorney draft your Will. This is how your final wishes will be carried out smoothly and effectively.

Not having a Will can result in a lot of confusion regarding which family members receive which pieces of property. When there are minor children involved, the process can become more complicated. There are also individuals that decide to take on the will process by themselves and write down their wishes on a piece of paper to then lock it in a safe for their family to recover after their death. Unfortunately, there are many legal aspects that come into play that could result in this type of Will seeing a long and expensive legal challenge, thus exhausting assets that would normally go to the family.

Drafting A Will

A Will can be drafted as long as an individual is at least 18 years old and of a sound mind. Although it may sound simple to state your wishes, have those wishes immortalized in writing, signed by you, and then signed by a witness, drafting a Will goes deeper than that.

The Will does divide assets amongst family members. However, the court is also directed in which probate process must be used. The court also determines how much supervision is required in carrying out the wishes within the Will. For instance, the court knows that a bond does not need to be posted while the estate is being administered. The court will also know who is to manage the estate. If there are young children, your Will outlines who will raise your children. You may also wish to set forth trust provisions for your minor children that they can access when they become adults.

In regards to any legal action by relatives that challenges the Will, your Minnesota Wills attorney will include an affidavit that reduces the chance that it will be challenged in court. This is where the cost of administration is greatly reduced, allowing your family to receive your assets as they should.

Probate

One of the questions that individuals ask is whether or not having a Will can help them avoid probate. The answer is typically “no.” The Will has to go through this process before it is turned over to the individual that will manage the estate. If avoiding probate is a priority, this raises the cost of the process of dividing assets. There are probate-avoiding methods that are considered options, such as lifetime transfers, trusts, and joint tenancy. An experienced attorney can advise you on what to do, the consequences, and the possibilities if you feel strongly about avoiding probate.

MN Wills Attorneys

It is never too soon to draft a Will and Myles A. Schneider & Associates can help ensure that all of your wishes are carried out. You can designate certain pieces of property to be passed to specific family members and set up trust accounts for your children. Your Will is your way of taking care of your family in the most cost-effective way possible after your death. Call us today at 763-315-1100 or fill out the form on this page to take the first steps toward securing your family’s future.

Contact us today at 763-315-1100 to schedule a free consultation with our law firm.