Last week I went over irrevocable trusts and their advantages and disadvantages. This week, I thought I would go into a little more detail on Revocable trusts and the pros and cons of that estate planning tool. You may often hear financial planners and other professionals singing the praises of Revocable Trusts and their benefits. …
Revocable Trusts: Are they are great as you think? Read More »
Ahh, an Irrevocable Trust? What is it anyway? As I discussed in a previous post, there are many types of trusts. We covered Irrevocable Trusts a bit, but I thought I would do more of a deep dive into them today. First, let’s define a few terms to make things a bit less confusing. Learn …
As an avid gamer, internet-savvy millennial, and self-proclaimed tech-nerd, a thought occurred to me: What will happen to all my digital assets if I die? I didn’t get my paladin to level 120 with a complete set of epic heroic raid gear just to let it all go to waste if I ever kick the …
As discussed in previous posts, there are a variety of trusts available in Minnesota to meet the specific needs of people. Usually, these trust documents are used to protect assets, provide income for children when tragedy strikes, and avoid taxes. There are some designed with the express intent of protecting individuals with a disability. These …
What is a Transfer on Death Deed? (TODD) A Transfer on Death Deed, or TODD for short, is a type of deed that is only effective upon the grantor’s death. It is a tool used to avoid probate proceedings. This type of deed is allowed under Minnesota law and can be found under chapter 507 …
Estate Planning for Cabins Ah, Minnesota Cabin life. Your family cabin is a place to relax, fish, and restore your mental health. But as you sit there watching your bobber unmoving in the still morning waters of a Minnesota lake, the thought sinks in: Where is the cabin going when I die? Who is going …
Introduction to Probate in Minnesota Probate. We hear about it often, financial planners talk about it, bankers blather about it, and lawyers uh, lawyer about it. In the end, it’s kind of a murky subject that most people don’t know much about. But like a will or trust, it’s something that you may have to …
You sometimes hear people talk about trusts or trust funds or see rich people in movies talking about their trusts and trust funds. Most people have heard of a trust but don’t know much about them off the top of their heads. It certainly sounds like something wealthy people have and talk about all the …
Nobleheart Legal operates as a virtual law office. That means, for the majority of clients, all meetings, conversations, paperwork, and other activities can be conducted online. Unless it’s required, there is usually no need to meet in person. Furthermore, Nobleheart Legal does not have a traditional brick-and-mortar office space. This means a safer experience for …
Put simply, a will is a legal document that ensures your money, property, and personal belongings will be distributed how you want after your death. As far as needing one, well, that depends on the type of person you are, I suppose. While the law does not technically require that you have a will, it …
What is a Will Anyway? And Why the Heck Do I Need One? Read More »
