Trusts are not empty vessels. They contain trust assets and those assets won’t manage themselves. A trust administrator may be needed to keep a trust humming along. But what exactly is a trust admin...
What is an Irrevocable Life Insurance Trust?
One of the most common types of irrevocable trusts is the irrevocable life insurance trust. How can it help you? Well, under the laws of many states, creditors can access the cash value of life insura...
Can You Edit Your Estate Plan Yourself?
Upon reviewing your estate planning documents, you may notice some small changes that need to be addressed, but you may wonder whether you need an attorney to assist you. For example, what if you want...
How to Avoid a Will or Trust Contest
When you create or update your estate plan, one of your goals should be to ensure that your final wishes are fulfilled. If you are concerned about challenges to your estate plan, consider the followin...
What is a Trust Protector?
What is a trust protector? Traditionally, the three roles that must be filled when setting up a trust are the settlor (also called a grantor, trustor, or trustmaker), the trustee, and the beneficiary....
Preparing an Inventory for Your Estate Plan
Most estate planning attorneys have received calls from distressed children who knew that a deceased parent had a will or a trust, but had no idea what accounts, insurance policies, or items of real a...
What is a Power of Appointment?
An often misunderstood but common estate planning tool is the power of appointment. Not to be confused with a power of attorney (the document that allows you to delegate someone to act on your behalf ...
Preparing Your Beneficiaries to Receive their Inheritance
An often-overlooked aspect of estate planning is preparing beneficiaries to receive money and property. With all of the thought that goes into making sure taxes are minimized, probate is avoided, and ...
What is the difference between a will and a trust in Minnesota?
A will is basically a letter to the Court explaining how you want your assets to be distributed following your death. The only one who listens to a will is a probate judge. The only place it is valid ...
Estate Planning Before a Major Health Event
Receiving a health diagnosis or learning that you need to undergo major surgery can cause substantial disruption in your day-to-day life. During this time, the last thing you may want to think about i...