Category: Estate Planning
Protecting your Inheritance: How Undue Influence can Overcome a Loved One’s Wishes
July 6, 2022 | Tyler W. Eubank
Undue influence is when another person uses influence to such a degree that the free agency of your loved one, referred to as the “testator,” is destroyed or overcome. Then the desires of the influencer are inserted in place of the testator.
Read MoreWills and Estates: Are you prepared for that next step in life?
May 26, 2022 | admin
Writing a will and planning for that next step in your life can be an emotional and overwhelming process. Many people tend to avoid it until it’s too late. There are several things you’ll need to have in order when setting up your will. It is not as easy as simply writing it up yourself and keeping it in a place for someone to find. A will is something that needs thorough planning, oftentimes with the help of a legal professional. Continue reading to find out how you should properly handle creating your will and what documents you will need. What are the documents needed for a will? First things first, what exactly is a will? A will is a legal document that details your wishes regarding the distribution of your finances and property, the care of your minor children, as well as other material possessions you may own in the event of your death. It allows you to direct how your belongings which can include bank accounts, investments, real estate, and jewelry, are distributed and to whom. If you decide to prepare your will yourself, begin by compiling a list of your assets and debts. Be sure to include all contents like safe deposit boxes, family heirlooms, and other assets that you wish…
Read MoreWhere there’s a Will, there’s a Way
October 24, 2019 | William F. HuefnerMany people in Minnesota are married. Many of those same people own a home, cabin, farm, hunting land or other real estate and many of our clients think that because both the husband and wife have their names on the deed, that the survivor simply become the sole owner of the real property upon the death of their spouse. This is incorrect. In order for title to real estate to pass to the surviving spouse, they must own the property as Joint Tenants. If the title does not list husband and wife as Joint Tenants, then the default is Tenants in Common. This means that when one owner dies, their interest in the property is subject to a probate court proceeding. If the Decedent has a Will, it will pass according to the Will. If there is no Will, it will pass according to Minnesota Statute. Depending on the circumstances, it may or may not pass outright to the surviving spouse. There are solutions to this problem once it is identified, such as: (1) Recording a document so that the property is titled as joint tenancy. This way, when one person dies, title to the property passes to the surviving tenant; (2) Putting a proper Will into place which will make your and…
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