Estate Planning

How to Avoid Probate: Essential Estate Planning Strategies

Posted on by jlawyer

Estate Planning: Smart Strategies to Avoid ProbateEstate Planning: Smart Strategies to Avoid Probate

Planning for the future is key to ensuring your wishes are honored when you’re no longer here. A significant concern in estate planning is the probate process, which can be time-consuming and costly. Fortunately, there are several strategies to avoid probate while effectively managing your assets.

Let’s explore how a Will, Healthcare Directive, Power of Attorney, Transfer on Death Deed, and proper beneficiary designations can help, and why a Revocable Trust isn’t always the best option.

Essential Tools to Avoid Probate

1. Last Will and Testament

A Will is a fundamental document that outlines how your assets will be distributed after your death. While a Will itself doesn’t avoid probate, it significantly simplifies the process. By clearly stating your wishes, your executor can help navigate the probate court more efficiently, ensuring that your assets are distributed as intended.

2. Healthcare Directive

A Healthcare Directive is vital for communicating your medical preferences in case you become incapacitated. It does not directly relate to probate but plays a crucial role in preventing family disputes during critical times. By making your healthcare wishes known, you minimize the chance of your loved ones facing tough decisions without guidance.

3. Power of Attorney

A Power of Attorney grants someone the authority to make financial decisions on your behalf if you are unable to do so. This document helps ensure that your financial matters are handled efficiently without needing court intervention, thus minimizing the potential complications and costs associated with probate.

4. Transfer on Death Deed

A Transfer on Death Deed is an effective way to pass your real estate directly to a beneficiary outside of probate. By designating a beneficiary for your property, it automatically transfers ownership upon your death, streamlining the inheritance process and avoiding the complexities of probate court.

5. Proper Beneficiary Designations

Ensuring that your financial accounts, insurance policies, and retirement plans have correct beneficiary designations is vital. These designations allow assets to pass directly to your chosen beneficiaries without entering probate, ensuring your loved ones receive what you’ve intended for them swiftly and effortlessly.

The Limitations of a Revocable Trust

Many people consider Revocable Trusts as a go-to solution to avoid probate. While these trusts can be beneficial, they are not necessarily the best choice for everyone. A Revocable Trust allows you to retain control over your assets while you’re alive and specifies how they should be managed upon your death.

However, there are a few downsides to consider:

  • Complexity: Setting up a Revocable Trust can be complicated. You must retitle your assets into the trust, which can be time-consuming and costly.
  • Ongoing Management: Maintaining a trust requires active management. You must regularly update it to reflect changes in your circumstances or wishes, which can become burdensome.
  • Costs: The initial cost of establishing a trust and ongoing administrative fees can be higher than simply using a Will combined with other probate-avoiding tools.

Choosing not to rely solely on a Revocable Trust doesn’t mean forgoing planning altogether.

The Importance of Professional Guidance

Working with an estate planning lawyer is essential to crafting a personalized and comprehensive estate plan. It’s not just about having the documents prepared; it’s about understanding your unique assets and how to manage them effectively.

Engaging in conversations with an estate planning professional allows you to:

  • Evaluate your assets: Understand what you have and how you wish to distribute it.
  • Communicate your wishes: Clearly articulate who will receive your assets and under what conditions.
  • Tailor your plan: Create a plan that makes sense for your specific situation rather than relying on a cookie-cutter solution.

Active engagement in the planning process will lead to a much more secure and beneficial estate plan than simply drafting a Revocable Trust. By being informed and involved, you can ensure that your estate reflects your wishes and is passed down seamlessly, avoiding the complexities associated with probate.

Talk to a Qualified Estate Planning Lawyer
In summary, effective estate planning involves more than just drafting a Revocable Trust. By utilizing a combination of a Will, Healthcare Directives, Powers of Attorney, Transfer on Death Deeds, and carefully considered beneficiary designations, you can create a robust plan that minimizes the risk of probate. Consulting with

Consulting with an qualified estate planning lawyer is your best bet.

Contact Joseph M. Flanders at Flanders Law Firm LLC today at 612-424-0398.

Guardianships in Minnesota

Posted on by jlawyer

Guardianships in MinnesotaGuardianships in Minnesota

This article will discuss the key concepts behind guardianships in Minnesota.

A person who has a Minnesota guardian is most-often incapacitated by age or mental infirmity.   A person may be incapacitated due to mental illness, disability, or other condition they were born with.   The other common situation is when a child (minor) needs a guardian due to being under the age of 18 years.

Guardian for Minors

It may be necessary to establish a guardian for a minor if a child’s parents have died.  This situation is often tragic and family members of the deceased parents  become the court-appointed guardians.

Our office has dealt with situations where two parents passed-away from cancer and there were several children who were under the age of 18.  The relatives of children, the aunts and uncles, took over responsibility of caring for the minor children until they were 18.  In situations involving the death of both parents, guardians are absolutely necessary so that an adult has legal responsibility over the minor’s welfare.

Health care institutions and schools are required to communicate only with parents or “legal guardians” for minors.  A court-order is needed to establish legal rights.  The guardian must have legal authority to communicate with these institutions.  Minnesota Statute 524.3-313 describes the powers of Minnesota guardian.

How do you obtain legal authority as a guardian?  First, you must petition the proper court.  The court will then issue Letters of Guardianship to the new Guardians.   The petition for guardianship must be made in the proper court or “venue”.  This will be the county where the children live.   The county court can be changed to where the new guardians live if the children’s residence has been moved.

Once established, the county court has continuing jurisdiction over the guardianship case until the children are 18.  During their childhood, personal-well-being reports need to be filed with the court, on a yearly basis.  The personal well-being reports help the court understand how the children are doing.  It also ensures that the court knows where they are, what their address is, and what their condition is.

Guardianship of and Adult (Persons over 18 years old)

Our office has seen numerous instances where persons with disabilities reach the age of 18 years.   That person likely needs continuing care due to their disability.   In this case, a guardianship is necessary.

Common disability symptoms include:   Autism Spectrum Disorder, Down Syndrome, or other mental health diagnosis.  An experienced physician must make a disability diagnosis and issue a report of that diagnosis to the court.  Essentially, the diagnosis must state that the person has diminished capacity which makes them unable to care for themselves.

The process of petitioning the appropriate County District Court is very similar to what was described above.  Just as with a minor, a person will need to petition for a guardianship over an adult.  The petition will outline the appropriate legal arguments for why the guardianship is necessary.  The petition will include a physician’s statement proving the diagnosis for disability of the person.  Notice of the court action will need to be served upon all next of kin or relatives of the adult person.  As an aside, this adult person is often referred to as a “ward“.

Once the petition is filed in the appropriate court, the court will appoint a guardian over the ward and the annual well-being report will need to be filed with that County District Court.

Guardianship Over Elderly Persons

The second most common adult guardianship in Minnesota is a guardianship over incapacitated, elderly person.  Incapacitation is a legal standard which is defined by Minnesota statute. Basically, there is a legal test for whether a person has become so mentally incapacitated that they can no longer care for their own needs.  A diagnosis from a physician will also be necessary in this scenario.  A common diagnosis could be Dementia, Alzheimer’s disease, or other mental defect.

We often counsel adult children who are serving as guardians for their parents.  Children reverse roles and now take over as care-givers for the day-to-day needs of their elderly parents.  This is often very daunting for the children and parents.   However, the children may choose to work with assisted-living or other long-term-care facilities.   In these conversations, decisions can be made about who maintains the day-to-day care.  The children might only make big-picture decisions for their elderly parents.

Sometimes the children will care for their parents in a home where the elderly parent has lived most of their lives. There are options for care and people are not limited by what they can do, legally.   Instead, the only limitations are often financial:  what can the parents or children afford for care?

As described above, the court grants legal authority to children for their parents.  The court issues Letters of Guardianship.  Minnesota guardianships can be very helpful for allowing the children to help their parents manage their on-going care.  Every situation is unique.  The legal system is there to help people.  The courts provide a systematic approach for establishing and maintaining guardianships in Minnesota.

Minnesota Guardianship Lawyers

The decision to ask a court for a guardianship is difficult.  There are very significant new responsibilities that the guardian will take on.   This is a big responsibility and the courts take it very seriously.

Our office has years of experience dealing with many different situations involving guardianships in Minnesota.   The office has also dealt with emergency guardianships.   We understands that it can be very scary.   We know what to do to help.

Contact the Minnesota guardianship lawyers today for your free initial consultation.  The telephone number is 612-424-0398.

Estate Planning In Light of COVID-19

Posted on by jlawyer

Estate Planning in Light of COVID-19Estate Planning in Light of COVID-19

Being concerned about what might happen next is completely understandable. Becoming incapacitated is a possibility even for people who don’t test positive for COVID-19. While you might be concerned about what might happen to you medically, you might still be able to do something for your health and estate through estate planning law. Your family may want to have power to make the medical decisions that you can’t make on your own.

Preparing for any kind of incapacitation isn’t always about what happens to you medically, moreover. There might be concerns about bringing in a conservator to care for your assets or figuring out how to care for your children. You can set things in place to prepare for testing positive or for other medical circumstances.

COVID Incapacitation

Now might be the time to start working on or reworking your living will. Though every case is different and you should definitely consult your doctor about health matters, it’s possible that being diagnosed with COVID-19 could result in eventual incapacitation. Being in a coma as a result of COVID-19 is a real thing. Your living will is one of the best ways to tell your doctor of what to do next even if you’re unable to mouth the words.

This is the central document if you want your friends and family to know what to do when you become incapacitated or if you are close to passing. Otherwise, they may not know what you’re looking for them to do in various circumstances. Never forget that incapacitation almost never helps you while you’re working on estate planning. That said, it’s wise to do things early on while you’re still healthy, ensuring that incapacitation won’t invalidate anything that you’ve set in place.

POA or Backup

Though you may have no interest in having a guardian or a conservator, it’s important to at least consider them. Unless you have durable power of attorney put into place, you may at least need to have a guardian in order to make medical decisions for you. That may involve someone else getting a bond in order to care for you. Conservators can be there to handle your assets while you’re physically unable to, and that doesn’t mean that a conservator can’t be your guardian and vice versa.

If having a guardian or conservator doesn’t sound appealing, durable power of attorney is almost always a good idea. While it’s true that you need to find someone you trust, a spouse or a best friend are two great options, if you believe that you may need someone to make medical or financial decisions for you, maybe have a bit of say in who decides. Regular power of attorney will not last if you become incapacitated. If you don’t grant durable POA, you may want to make your family aware of them possibly needing to find you a guardian or a conservator.

Caring for the Kids

It’s possible that you might not be the only person who needs a guardian. Your kids might come to depend on one until they can care for themselves. Designating someone else to be their care giver is something that you can do even if your kids enjoy the luxury of a two-parent household. You may be thinking about how the virus will affect you, but you’ve also got to plan for how it may affect the rest of your household.

This doesn’t mean that you have to forfeit your parental rights. Just think of this as making sure that your children will have a home to come to. There’s the chance that both you and your partner could succumb to COVID-19. You may even want to start having the talks sooner than later as they might want to have say in how their kids are taken care of, too. Not every estate planning decision should be done on your own.

Get the Executor

On top of having a will to account for your estate, it might be wise to also designate an executor of your estate. They’re the one who will be accountable for carrying out the contents of your will. While you might just want to draft a will and be done with it, that may not be the best option. Someone has to do all the hard work in your absence and that person may want some heads up.

A will is an essential part of estate planning and you may even want to start there. Nonetheless, don’t neglect figuring out who will do the dirty work. Treat them as you would treat the person that you give durable power of attorney to. All of those debts and creditors that want their money back will have to go through your executor if they want some of your assets. Moreover, they have to do most of their job when you’re not around anymore. While you might talk with the person who previously served as your guardian or conservator, your executor might just have to work while thinking of all the good times that you shared.

Minnesota Estate Planning Lawyers

Yes, you should probably talk to medical professionals if you think you need to get tested. Assuming that you’re healthy, you may want to take the time to speak to someone from Flanders Law Firm LLC. If you’re worried about going in-person, enter 612-424-0398 into your phone and request a free quote.

You can get an estate planning lawyer who’s helped people deal with all sorts of concerns to assist with the fears you might have. Staying healthy is one of the best ways to prevent your concerns from ever coming to fruition, but it never hurts to have a little backup. At least, take the time to talk things through and prepare for better or for worse.

Protecting Your Money from Nursing Home Costs

Posted on by jlawyer

Protecting Your Money from Nursing Home Costs

No, this article isn’t asking if you’re ready to live in a nursing or want to. Rather, the focus is that by using trust law and some other techniques, you can find some ways to safeguard what you’ve obtained. Being in a nursing home may still cost you. That said, here are a handful of precautionary steps that you and your relations should consider taking.

Don’t be deceived. Living in a nursing home doesn’t automatically equal the death of your finances. Perusing Medicaid for your coverage is a hypothetical possibility.

Estate planning is, for the most part, about playing your assets right and knowing how to implement trusts and wills to your advantage. There’s far more to this process than simply throwing all your assets inside a will and hoping everyone inherits something worthwhile.

Budget for Tomorrow | Minnesota Estate Planning

Money is the main factor here. Though you may qualify for Medicaid to cover the cost of living at a nursing home, it’s still wise to properly budget. It would also be wise to understand if and for how long Medicaid will cover you.

If you do anything, do your research on what living at a nursing home all involves for you under and without Medicaid. Protect your assets by finding out what this is going to cost.

Though they may not show it, your loved ones may be highly concerned about your wellbeing. Kids, spouses, and close family members might all be worried about what’s going to happen next. Living your fullest life may mean that you live out the rest of your days inside of a nursing home.

While that may not sound ideal, it would be best for you and your family to come to terms with reality. Be honest and open about what options are available. By budgeting, everyone can get a better idea of what possibilities remain.

The Generosity Route | MN Wills and Trusts

Most grandparents probably know the joys that arise from spoiling their grandkids. And that same feeling may come from being generous towards others. So, if you’re looking for a way to make sure that your assets are passed down, look into all of the ways that you can gift the assets that you want someone to have.

Gift is the key word. Once you’re sure that you won’t need something, whether now or when you’re in a nursing home, gifting may be the best route to take.

There are lots of physical objects that can be gifted without much concern. The household items that are strewn across your home are just one such example. Your house itself might be able to be gifted to someone else.

You must be aware of tax ramifications, however, and how that might affect Medicaid for you, and should pay off your debts before you gift a single penny. Paying off a loved one’s debt during probate is no fun.

Castle Trust

Trusts are more than for providing funds for your pets. A castle trust can be used to add extra protection to your present assets, keeping them safe for younger generations. As a word of caution, castle trusts fall into the irrevocable trust category, making it so that any assets wrapped in these trusts are basically untouchable to you. There’s very little chance that you can change your mind once they’re sealed inside any irrevocable trust.

Creditors and lawsuits hate castle trusts in particular, as the assets inside these trusts can’t be used to satisfy their demands. Collecting on these trusts whether because of a car accident or because funds should be taken from you is not an option. This level of security extends to your children who inherit the trust. A castle trust could also be set up to help supplement your income and enable you to receive Medicaid if properly set up.

Five Year Look Back Period

If you plan on making any serious financial decisions and getting Medicaid, five years is the time frame you need to have in mind. Of course, give yourself extra time to budget. Those who control Medicaid are well aware that you can deplete yourself of assets by simply giving things away. That said, they’re probably going to research what kind of gifts you gave. Big gifts are the ones they’re looking for. Houses, like the ones mentioned previously, are one such example.

You must be wise when you pass on such assets. Fully realize the ramification of any gifts you give. Otherwise, you may incur a penalty from Medicaid. Sure, you may want your offspring to get the home, and they may have family that can better utilize it. Nevertheless, purpose isn’t the question here. Money is the major concern. Making yourself poorer than you were may result in bad news for you. Don’t throw away large assets for your own sake unless you’re sure nothing negative will come of it.

Minnesota Estate Planning Lawyers

Working on your estate planning by yourself is rarely recommended. Getting more people involved is a wise choice. Those who will be there to walk you through your days in the nursing home should be aware of what you’re doing. A trust lawyer should be amongst the first that you contact, provided that you want that extra level of assurance. What’s to be done about your assets once you’re gone is a huge question for your family to answer. Seeking out legal advice may allow you to better calm their fears.

For clarity and assistance with this process, you should consult the law firm of Flanders Law Firm LLC at 612-424-0398.

What is a Power of Attorney? | Minnesota Law

Posted on by jlawyer

What is a Power of Attorney?What is a Power of Attorney?

Power of attorney doesn’t necessarily mean unlimited power. What it means to grant POA can mean a lot of different things depending on what you need and what you want. So, this article is going to try to help demystify some myths.

Power of attorney law isn’t a complex topic when you start to break it down. Actually, a lot of it centers around how much power you can/want to give someone.

If anything, this article is meant to help you understand what kind of POA that you can grant rather than crush your hopes. If you’re looking to grant someone power over both medical and asset-related decisions, that’s totally fine.

If you don’t want to give the person that you have in mind much power, that’s fine as well. Continue to read to get a clearer picture of what POA really involves.

You Can Sign Whenever

The above statement is partly true. When you sign is up to you. Though, the times that you’ll be able to sign are relative to your abilities. Physical strength may not impact you whatsoever while you may find that not everything is legal if you sign while mentally incapacitated. This is true for certain parts of estate planning as mental incapacitation can be grounds for revoking some legal docs that you’ve signed.

It’s a sad and potentially unfair truth, but it’s a truth, nonetheless. What you signed may even be revoked out of good intentions for you. Not everyone can see into your mind and they might not trust your more recent actions, believing that you’re not acting like you. A change of heart is one thing. Trusting a complete stranger with durable power of attorney is another. For your sake, do things while your mental faculties are in the best of shape.

Surpasses Death

You can’t give someone power of attorney that will outlast you. There’s durable POA that will be in affect even while your incapacitated.

That’s for sure. Nevertheless, someone only maintains power of attorney while you’re still here. You’re the metaphorical battery to their legal powers in this case. So, once their battery runs out of juice, there’s no more power of attorney they can use.

For your best interests, focus on finding a trusted person to care for you and your estate while you’re still here. What they do after you’re gone doesn’t necessarily affect whether or not they should have POA. The central factor is taking care of you and your belongings. Deciding on serious issues that affect your livelihood is the heart of their role.

End of Independence

Independent or not, giving another somebody POA is a far cry from forfeiting your independence. Sure, durable power of attorney lets another party make key decisions while you’re incapacitated, but granting power of attorney doesn’t mean that you need to sign away your life.

You get to have say in what powers someone does and doesn’t have and how long their powers will last. Limiting what they can do is an option for you from the start.

Think of this as picking a servant rather than as handing someone the keys to your life. Just be mindful of every decision that you make pertaining to their powers. If the discussion of what kind of limits you want in place hasn’t come up, bring it up while you still can.

As far as your concerned, everyone might assume that you’re looking to grant as much power as you can regardless of how true that rings. If you can, be upfront and direct on what limitations you want imposed.

Automatically Financial and Medical

This is a partial extension of the last paragraph. With that said, recognize that granting someone POA doesn’t mean that they’ll automatically obtain power over estate and medical decisions.

The type of POA that they’re about to receive may only cover one of those two. You should double check before you sign anything. Anyone can be granted power over both just as someone can be both a conservator and a guardian simultaneously.

However, you need to have final say in the matter. If you’re unsure if you’re granting enough power, discuss this early on or perhaps when you’re negotiating limitations. You can approach this issue two different ways. Either you can be cautious about their abilities and limit what can be done or you can be cautious about them not having enough power and limit the limitations.

Debunking More Myths

If you have more questions or want more POA myths debunked, call 612-424-0398.   With the help of the law firm of Flanders Law Firm LLC, they can help you get a better understanding of power of attorney law.

They’re there to not only help you work out the details of what kind of power of attorney that you want to grant, but they’re also there to make sure that everything makes sense. Perhaps you want to figure out what kind of limitations you can impose or you’re not sure whether or not POA is an option for you. It never hurts to ask.

Odd but Good Estate Planning Ideas

Posted on 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 | Dying Intestate: Too Many Famous People Also Make This Mistake

Posted on by jlawyer

Hopefully, you’re among the roughly 49% of Americans between the ages of 55 and 64 who have already created a Will or another type of estate plan.

Minnesota Probate Medical AssistanceHowever, if you just keep putting off this critical task, you really should try to correct this oversight at your earliest convenience.

Procrastinating in obtaining a Will greatly increases the chances that those you love the most may inherit nothing – especially if they’re not blood relatives or “next of kin.” Dying “intestate” (without a Will) means that by default, you’re giving your state’s statutes the power to select your beneficiaries for you.

Please consider contacting your Minnesota estate planning attorney today so you can obtain the help you need. In the meantime, feel free to review the names below of some of the famous people who also forgot to create Wills. Hopefully, you’ll decide to leave gifts of different types to your various loved ones, friends, and favorite charitable causes.

Famous People Who Failed to Create a Will Before Dying

  • Abraham Lincoln. Although he was a lawyer and served as our nation’s 16th President, he still overlooked creating a Will prior to his assassination in 1865. Fortunately, since he was married, that increased the chances that his loved ones received most of his wealth.  However, any close friends or others he might have wanted to provide for were surely prevented from benefitting from his estate;
  • “Sonny” Bono of “Sonny and Cher” fame. Although his birth name was Salvatore Phillip Bono, most of us will always remember him as one of the artists who sang “The Beat Goes On” and “I’ve Got You Babe” with his (then) wife, the singer Cher. Many of today’s younger entertainment fans may also know him as Chaz Bono’s dad. Mr. Bono died back in 1998 due to a skiing accident;
  • Pablo Picasso. You would think this highly accomplished painter might have created an elaborate Will to benefit some of the many people who added substance to his life. Yet like many others, he overlooked this important task. As his Bio.com profile indicates, Picasso was “one of the greatest and most influential artists of the twentieth century.” Although he passed away long ago in 1973, many will always recall his singular contributions to Surrealism and Cubism;
  • Other musicians, singers, and rock stars who failed to create a Will. These include John Denver, jazz great John Coltrane, George Gershwin, Tupac Shakur, and Keith Moon – still remembered by Baby Boomers as the drummer for the group known as “The Who;”
  • Additional artists, writers, and comedians who died intestate. These include comedian Chris Farley of Saturday Night Live fame, actor Sal Mineo who starred in the film “Rebel

Without a Cause,” the very bright yet volatile comedian Lenny Bruce, actor Peter Lorre, actress Jayne Mansfield, and poet Dylan Thomas;

  • Other famous people who died without a Will include: Billionaire Howard Hughes and civil rights leader Martin Luther King, Jr.

Although you may think you’re in good company to still be without a Will, keep in mind that failing to create an estate plan often means:

  1. Large sums of money you left behind will be wasted during the lengthy time period it may take to disburse all of the wealth you left behind. It’s been said that it cost approximately $30 million to settle Picasso’s estate – funds that his loved ones or various charitable groups could have put to far greater use;
  2. You stretch out the grieving period in an agonizing way for those who truly loved you. No one wants to be handling critical financial matters while they’re grieving, even if they hire an attorney to appear in court on their behalf;
  3. Critical living expenses needed by some of your sickest distant relatives may go unmet while your estate is being settled;
  4. Your state’s intestacy statutes can easily wind up giving your entire fortune to a sibling or parent who always treated you very poorly while you were still alive. No one needs a “laughing heir” who will laugh all of the way to the bank, knowing you never intended for him/her to inherit a penny from you;
  1. Public or charitable causes you greatly loved will never see a penny of your wealth. Surely we should all try to do something good with at least part of our estate at the end of our lives – preferably something that will benefit those in great need.

Minnesota Probate Lawyers

Free Initial Consultations

Contact the Flanders Law Firm today. The firm offers free estate planning consultations to all potential clients. Call(612) 424-0398.