Minneapolis Wills Attorney | St. Paul Wills Lawyer
Most people are aware of the definition of a will and the purpose that it serves. The purpose is to make sure the assets earned by a person go to the proper beneficiaries in the case the individual passes away. However, a will can be used for much more than simply stating who receives which assets. With the help of an experienced and knowledgeable Minneapolis wills attorney, you can create a detailed and enforceable will that will specify what is to happen to everything you have worked so hard for.
At the Gross Law Office, you will receive the guidance and assistance needed to make the proper estate plan decisions. Al Gross will properly draft a detailed will that will outline what you want so that your wishes aren’t questioned.
Drafting The Right Will For You
There are different elements to a will and those elements can be present in any combination. The common aspects are:
- Beneficiaries and what they receive – The naming of who gets what is the most common purpose of a will. An individual or group of individuals can be named.
- Guardians for children – Guardians for minor children can be named in the event you pass away. It is customary for a will to contain at least one alternate if the first choice can’t take on guardianship of the child or children.
- Establish trusts – In many cases, a person may not want their loved one or child to receive their entire inheritance at once. It is also possible to give someone temporary use of property and then pass it on to someone else. The trust holds the property on the behalf of someone else. It is common to have a trust established for minor children so that the money can be managed by someone else until the children reach a certain age. If you are in a second marriage, a trust may be warranted because certain property may need to go to the spouse, but other property may need to go to the decedent’s children.
- Specify funeral wishes – Although this can be specified in other documents as well, a will can state whether a person wants to be buried or cremated, where burial or the spreading of ashes should occur, and any other pertinent information.
- Naming trustees and executors – A will allows you to state who will be the executor of the estate. The executor is the person who carries out the wishes of the deceased. The will can also name the trustee who will be responsible for carrying out the wishes for trusts.
- Tax planning – A will can be a fantastic tool for tax planning so that state or federal inheritance or estate taxes can be avoided. Many times, avoiding expensive taxes can be accomplished by establishing trusts.
Wills Are Powerful Tools
A will is a very powerful estate planning tool. It’s cost-effective if properly drafted to suit your needs. Mr. Gross is a highly experienced estate planning attorney who will draft a thorough and enforceable will so that your wishes can be carried out in the event of your death. Mr. Gross will ensure you know all of your options so that your will is as detailed as it needs to be for you and your family. He will also review other instruments that may be very important to your estate plan.
Contact A Minneapolis Wills Attorney
If you don’t yet have a will or you need your current will updated, the Gross Law Office can help you. By having an up-to-date will that is properly drafted by an estate planning lawyer, you increase the chances of your wishes being carried out in the event of your death. To learn more, call 612-203-3830today.