Asset Distribution & Wills

If you pass away without a will, Minnesota law is used to determine how your assets should be distributed. If you do not want to rely on Minnesota law to determine who should receive your assets after you pass away, you can use a will to describe your estate planning goals. A will helps by coordinating the distribution of your assets and appointing a personal representative, or executor, to manage your estate after you pass away.

A will can also be used to appoint a guardian for minor children or an adult child with a disability. By using a will to appoint a guardian, you can ensure that your wishes are known and eliminate possible future disagreements over who should take care of your children.

For a will to be valid in Minnesota, it must be signed by the testator (the person making the will), dated, and witnessed by at least two witnesses. Once you have a valid will, you should not make any handwritten changes to the will. If you need to update an existing will, you can have a codicil, or an amendment, prepared. The codicil must also be signed, dated, and witnessed by at least two witnesses.

A will does not help you avoid probate. In order for a will to take effect, it has to go through probate. Probate is a legal process where a judge supervises your estate to make sure that your assets are distributed properly.

Contact one of our Estate Planning and Elder Law Attorneys to learn more about wills and other estate planning tools.

Our Estate Planning and Elder Law Attorneys

Call us today for a free consultation: 763.406.7000

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