Odd but Good Estate Planning Ideas

Posted on March 24, 2020 by jlawyer

Odd but Good Estate Planning Ideas

As much as human relationships can be full of emotion so can your Minnesota estate planning. You don’t have to write your will or form your trusts to merely dispense your assets robotically. By using estate planning law to its fullest, you can set things up to be a bit out of the ordinary. That’s not to say that abnormal is bad. On the other hand, you may find that you can do a lot more good through estate planning than you first anticipated.

As you continue to read, let the following be starting points to your imagination. You don’t need to use any of the following examples. Rather, you may find them helpful for drawing inspiration while you work with a lawyer. Use these examples to liven up your family members once you’re no longer with them.

Do Something Romantic

Valentine’s Day or not, there’s still the chance that you can still do something romantic once you’re gone. It doesn’t have to be a romantic getaway. Actually, it can be just about anything reasonable as long as you have the means and nobody gets hurt. Of course, you probably want to think of what your partner will want when you’re gone.

As a hypothetical example, you might want your wife to receive a box of chocolates everyday after you pass. You probably will need to budget for that ahead of time using your assets and potentially arrange things with a chocolate delivery service. Other ideas might be leaving money for a pet they always wanted or for flowers to be sent to their workplace during lunch time.

Healthy Rivalry

If your family loves playing games, perhaps you want to leave some of your assets as a kind of competition prize. That’s not to say that you want to create something that will divide your loved ones, but maybe consider something humorous or memorable. The goal with your estate planning should be to do the most good and bless your family. Think about Wills and/or Trusts.

Say that you held a pie eating contest at your yearly family gathering. So, as a way of saying goodbye, you set aside the assets for the pie and a small prize like an old sweater of yours. For now, think about ways that you can help make the setup easier on your family. Consider consulting your favorite local bakery or set aside a few hard copies of your favorite dessert. Give them something that their sweet tooth will adore.

Nightly Dinner Parties

Trust funds can be used to pay for multiple different things. Nightly dinner parties are one such example. No, you don’t have to be specific as to what’s being served at the party, but you can still dedicate the funds to having a great time. You don’t need to budget for nightly parties if you’re thinking about your spouse only having friends over every blue moon.

Perhaps the whole question you need to figure out is where the food is going to come from. A catering company might be an option. Otherwise, perhaps leave some budgeted assets for your partner to pick out some groceries everyone will love. Consider also making some small recommendations to liven things up a bit. Of course, always consider having backup in case your partner wants some extra assistance.

Spreading Ashes

For those looking to be cremated, consider having your ashes spread somewhere memorable. Where you want them spread is up to you. Your family will want you to be buried where you’ll be happiest. It could be in your hometown or near where you met your partner. You should discuss this with your family ahead of time, ensuring that all the little details are worked out.

Moreover, you should also consider consulting the proper authorities. Say that you want your ashes spread on a lake near where you’ve camped a lot. It might be a nice way of saying goodbye and touching to those you’ve camped with. Though, for example, there might be concerns of causing pollution in the lake. Research this beforehand and work out every detail. The last thing you want your family to have is a hefty fine for carrying out your last wishes.

Getting Things Together | MN Estate Planning Lawyers

So, now that you have a few good ideas brewing in your mind, it might be time to make your dreams a reality.

By calling 612-424-0398, you can grab a free quote and get everything started. With the law firm of Flanders Law Firm LLC by your side, you can tackle most concerns surrounding estate planning law.

Perhaps you’re unsure about everything that you can do. Maybe you want to make sure that your assets are allocated properly. Bring all your dreams and concerns without having to fret. Take as much time as you need in order to make sure that your estate is fully planned out.

Minnesota Probate Law | Disinheritance

Posted on August 9, 2017 by jlawyer

If you’re preparing to draw up a will or a larger estate plan, it’s natural to think about who you do and do not want to leave your possessions to. In many cases, people spend their time and energy thinking through what items to leave to which of their heirs.

In other cases, the energy might instead be expended not on what to leave someone, but whether to leave them anything at all. Disinheritance can be a tricky proposition, both from an interpersonal perspective and a legal one. To learn more about how the process works, keep reading.

Why disinherit?

This is an incredibly difficult question to answer generally as the decision to disinherit is quite complicated and very personal. In some cases, disinheritance occurs because of a sudden event. A nasty divorce in the family could cause a schism, a sudden recurrence of addiction, an incident of abuse, in some cases, it may be a particularly upsetting argument. Other times, the disinheritance is the product of years of issues and estrangement that have gradually gotten worse, prompting the person making the will (the testator) to finally decide that enough is enough. Each instance of disinheritance is different given the complex personal relationships wrapped up in such decisions.

Who can and can’t be disinherited?

You may think that because the money is yours you can do with it what you want. While that’s generally true, there are some limits that are worth keeping in mind. Across the U.S., the rule is that you cannot disinherit your spouse. One exception is if your spouse agrees to be disinherited, either in a pre- or post-nuptial contract, then it might be possible. Even in the case of a prenup, disinheritance isn’t allowed in Georgia, where everyone is entitled of at least one year of support following the death of their spouse. It should be noted that these rules only apply to current spouses. Recent divorces don’t count and former spouses can be safely disinherited.

What about children? In almost every state in the country you can disinherit children as you wish. The only limitation occurs in Louisiana, of all places. The law in Louisiana says that a parent cannot disinherit children who are younger than 23, who have mental or physical incapacity or who are incapable of taking care of themselves. Except for these very narrow circumstances, disinheritance is legally acceptable.

Beyond these restrictions, the general rule is that you can disinherit whoever you like. It’s your money, and you can control who gets it (and who doesn’t).

Is disinheritance the right call?

Though disinheriting your child (or grandchild, or other relative) may be legally acceptable, that doesn’t necessarily mean it is socially acceptable. Saying you want to disinherit someone sounds easy enough, but can be much more difficult in practice. To make such a bold move is almost assured to damage, often irreparably, your relationship with the person being disinherited. It’s also likely that the ripple effects will extend beyond this person, perhaps harming your relationship with that person’s close friends and family who disagree with your decision. Before making the movie, think long and hard and be sure this is a decision you’re ready to own.

Other options besides disinheritance

Rather than take what some consider to be the nuclear option of disinheriting a loved one, another solution worth considering is creating a trust. How does a trust help in this situation? Rather than simply writing the person off, a trust can be used to control the heir’s inheritance, creating limits that prevent the person from using all of the money at once. You can use the trust to creative incentives for working or going to college or staying drug free. You can also place others in charge of disbursing money to the heir, ensuring that the loved one never has direct access to the asset.

An experienced Minnesota probate lawyer can help walk you through the complicated process of establishing a workable estate plan. For more information on estate planning in Minnesota, along with a variety of other topics, contact Joseph M. Flanders of Flanders Law Firm at (612) 424-0398.

Source: “How to Disinherit Loved Ones—And Which You Can’t,” published at CNBC.com.

Contesting A Will In Minnesota | MN Probate Law

Posted on March 30, 2017 by jlawyer

For those who spend the time and energy drafting wills and estate plans, the goal is obviously to ensure that your wishes are respected once you’re gone. Going to this trouble is supposed to ensure that things go smoothly when it’s time to distribute your assets to heirs. Though this is true most of the time, there are circumstances in which things don’t go perfectly to plan. In cases where fraud may have happened or an heir has especially hurt feelings, it’s possible that the will could be challenged in probate court. To find out more about how contesting a will works, keep reading.

Why?

The good news, at least for those drafting the will, is that wills are official legal documents and are thus not easily ignored. Simply disliking the results of a will or feeling you didn’t get a fair shake isn’t enough to justify a valid challenge to a will. Wills can be contested for a variety of valid reasons and these include things like fraud, duress, undue influence, mental incapacity, improper witnessing and the existence of ambiguous language. A will contest requires the existence of a valid legal question about the document itself or the process by which it was created, sour grapes aren’t sufficient.

Who?

Can anyone challenge a will? Thankfully, no. Probate law says that wills can only be challenged by those with proper standing, meaning heirs and other beneficiaries. A person needs to be mentioned in the current will or some previous version of the will. Interestingly, someone mentioned in a will for the purpose of being disinherited is enough to give that person the standing to raise a challenge. These rules mean that those who can bring a challenge are almost always spouses or children of the person who crafted the will.

When?

How long does an heir have to contest a will? The answer varies depending on your location, as each state puts a different spin on its probate rules. In Minnesota, Section 524.3-109 of the Probate Code says that a person has one year after the date of death of file challenges.

Contesting A Will In Minnesota | How?

If it turns out that you have standing to contest the will and have legitimate grounds to do so, the next step is to file a petition with the probate court in which the will has been entered into, objecting to its validity. All heirs and beneficiaries of the estate will need to be informed of the challenge, giving them an opportunity to intervene should they choose to do so. After everyone is on notice, it’ll be time to gather information from other parties, put forward your arguments and lay out your justifications for invalidity. If, after that, you aren’t able to negotiate a mutually agreeable settlement to the dispute, the matter will need to be decided by a probate judge.

Though contesting a will is clearly possible, it’s important to understand that doing so isn’t easy or fast. Any challenge will need to be based on valid grounds, not just displeasure with the disposition of an estate. Even then, victory is not assured and you’ll likely spend a good deal of time and money fighting it out. Just something to keep in mind before heading off down the road of a will contest.

Minnesota Probate Lawyers

An experienced Minnesota estate planning lawyer can help walk you through the complicated process of establishing a workable estate plan. For more information on estate planning in Minnesota, along with a variety of other topics, contact Joseph M. Flanders of Flanders Law Firm at (612) 424-0398.
Source: “What Are the Grounds for Contesting a Will?,” by Julie Garber, published at TheBalance.com.