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Estate Planning

Estate Planning

Planning for the Well-Being of Your Loved Ones and Assets

Have you ever wondered about the legal and financial implications that would arise if the unexpected were to happen to you? Whether you have an existing estate plan or if it's outdated, there's a risk that your assets could end up with the Minnesota State Department of Unclaimed Property or become entangled in an unnecessary court process.

If you're uncertain about what would transpire for your loved ones and your assets, it's crucial to gain a clear understanding of your legal and financial situation. This is the first step in determining if your current arrangements align with your wishes.

How We Assist with Estate Planning:

We initiate a Planning Session, during which we'll delve into your situation and provide you with valuable insights. Before the session, you'll complete an intake and inventory of your family and assets, which will help you assess your ownership and responsibilities concerning the well-being of your loved ones and cherished belongings. If you find your current arrangements unsatisfactory, and if we mutually agree that we're a good fit to collaborate, we can create a tailored estate plan that suits your family's needs.

A fundamental component of your estate plan typically involves a revocable living trust, in which you transfer your property for your benefit during your lifetime. This trust, when correctly established and maintained, can help your family avoid the expenses and delays associated with probate and reduce or eliminate estate taxes.

For those with more complex needs, we offer advanced estate planning services.

Can You Create Your Own Estate Plan?

Regrettably, many DIY estate plans are ineffective because they often amount to little more than document processing. You answer a few questions, and a pre-set "plan" is chosen for you, fitting you into a template. This isn't comprehensive estate planning; it's essentially a matter of replacing your family's name in a document and hitting "print" to produce generic forms.

We Are Dedicated Estate Planners

We're committed to your education and gaining a deep understanding of you, your family, your concerns, your goals, and your specific issues. We patiently address all your questions to craft a custom estate plan that perfectly aligns with your needs and keeps your loved ones out of court and free from conflict.

If you have young children, a cornerstone of your estate plan should ensure their continued care, regardless of what circumstances may arise. At Lee Lafayette Law, safeguarding minor children is one of our areas of greatest expertise.

Contact Us Today

Lee Lafayette Law is committed to answering your questions about Estate Planning, Wills, and Trust issues in St Louis Park, MN.

We'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.