People include many different types of assets in their estate plans, and in the digital age, there may be additional considerations for you to go over when it comes to estate planning. For example, you may have invested a significant amount of money in a cryptocurrency, or you may have been an early investor who has acquired a great deal of wealth through cryptocurrency. Some cryptocurrency investors may be unsure of their responsibilities or some of the legal matters that can arise due to these assets, from tax matters to ensuring that assets are managed properly in the event that the owner passes away.
Sometimes, estate planning issues can be particularly emotional, and people may struggle to figure out which decision is best. This can be especially true for people who are experiencing problems with some of their family members, such as parents who have an estranged child that they have not spoken to in many years. If you are trying to work through these problems yourself, it is vital to take a careful look at the ins and outs of your family circumstances and decide which options are best, especially when it comes to inheritance.
When a person drafts a will in Minnesota, he or she does so with the hope that survivors will carry out his or her final wishes in accordance with the document. Unfortunately, there are times when another individual forces a testator to alter the will against his or her wishes, or when another individual takes it upon him or herself to make alterations to suit his or her own selfish needs. When this happens, a beneficiary of the document is at liberty to contest the will.
If you end up in the hospital with a medical condition that makes it impossible for you to communicate your wishes, what would happen? According to the Minnesota Department of Health, doctors will usually consult with your loved ones as to what to do regarding your situation. Your loved ones may or may not follow your wishes. To prevent something from happening that you do not want, your best option is to create a health care directive.
While death is never an easy circumstance to work through, when you are anticipating the death of a loved one, you may have a chance to prepare yourself mentally. Often, this means making the most of your time with your family member and reliving the positive memories you have made with him or her. At Dunlap & Seeger, we have helped many families in Minnesota to understand the value of planning an estate.
The main reason why estate planning experts in Rochester encourage people to see to this process while they are still able is to avoid the confusion that can ensue when they are gone. Without documentation spelling out one's wishes (or resolving any pending business affairs they may have had), those left behind may only speculate as to one's true intentions. Such speculation can often result in discord as different parties claim to know what a decedent truly wanted.
For many people in Minnesota who have worked hard to earn and accumulate financial assets, one of their top priorities is keeping everything safe. While there are many ways that a person could consider doing this, some methods are significantly more secure and beneficial than others. Assessing a person's needs is important before he or she makes the decision about which method will provide the most benefit.
When it comes to estate planning, many people in Minnesota struggle to recognize how valuable certain components are until it is too late and they are incapacitated to make decisions that they have very strong opinions about. To avoid the disappointment and heartache of having to deal with the emotional distress that results from not being able to make one's own decisions, it is highly recommended that individuals are proactive about coordinating an estate plan that is customized to meet their needs and desires when the time comes that they are unable to make important choices on their own.
A close family member has recently passed away in Minnesota and you are left gathering the pieces and trying to make sense of everything that has happened. While your loved one took initiative to create and finalize a well-rounded estate plan while he or she was still living, nothing could quite prepare you for the sting of death. Fortunately, there are healthy and productive ways that you can grieve without focusing too readily on the intense emotions you may be feeling.
You are beginning to recognize that your elderly loved one is showing signs of confusion when faced with making important decisions regarding his or her future. You are worried that the lack of focus and understanding may cause him or her to make a choice that could compromise the security and comfort of the future. As such, you are interested in arranging legal guardianship to make it so you have the power to assist in making critical decisions in a timely and responsible manner. At Dunlap & Seeger, we have helped many families in Minnesota to coordinate guardianship of their elderly loved ones.