Estate Planning in Minnesota | Wills & More

Jason Hoffman, Estate Planning

Jason Hoffman, Estate Planning

Our estate planning practice encompasses all aspects of your life and unique family situations. Whether you’re a single parent, a young couple with a brand new baby, a business owner, a middle-class family, a farm family, or a retired widower thinking about making a charitable gift, or anywhere in-between, we are able to help you make intelligent decisions and plan for both the unthinkable emergencies and inevitable end-of-life issues we all need to consider. With tailor-made plans developed to meet your goals and mindful of your budgets and resources, we are able to craft estate planning packages for anyone.

Estate Planning Practice Areas

Our estate planning covers these practice areas.

Conservatorships

Conservatorships are Court proceedings where an individual or company is appointed by a Judge as Conservator and ordered to manage the financial resources for another individual who is not able to manage their own financial affairs due to mental health, chemical dependency, disability, or many other reasons.

Disability Planning

Disability planning, more often known as Medical Assistance or Medicaid planning, involves a concerted effort to make decisions regarding the spend-down of an individual’s estate for purposes of qualifying for Medical Assistance benefits. It may also involve the use of Special Needs Trusts or Supplemental Needs Trusts to pass assets to a disabled beneficiary with special needs to avoid disqualification from receiving existing Medical Assistance, Social Security Disability, or other benefits.

Financial Power Of Attorney

A Power of Attorney for financial purposes is a document where an individual appoints another individual or company as a fiduciary called the attorney-in-fact and empowers that attorney-in-fact to make financial decisions regarding bank accounts, investment accounts, real estate interests, and other assets, in the event that the individual is not able to make their own decisions. In our office, we charge a flat fee of $50.00 for a financial Power of Attorney.

Guardianships

Guardianships are Court proceedings where an individual or company is appointed by a Judge as Guardian and ordered to manage the day-to-day affairs and health care decisions for another individual who is not able to manage their own personal affairs due to mental health, chemical dependency, disability, or many other reasons.

Healthcare Directive

A Health Care Directive, also sometimes called a living will or power of attorney for health care, is a document where an individual appoints another individual or company as a fiduciary called the health care agent and empowers that health care agent to make decisions regarding the day-to-day affairs and health care decisions for another individual that is not able to make their own decisions. In our office, we charge a flat fee of $50.00 for a Health Care Directive.

Irrevocable Trust

An Irrevocable Trust is a specialized trust document, in which the individual creating the trust document and transferring assets into the same, makes that transfer permanent in nature and cannot be terminated by the individual creating the trust. An Irrevocable Trust is often used because of some specific tax benefit or charitable purpose, and the Irrevocable Trust will need to be specifically tailored to accomplish that particular goal.

Living Wills

A Living Will, more accurately called a health care directive or also sometimes power of attorney for health care, is a document where an individual appoints another individual or company as a fiduciary called the health care agent and empowers that health care agent to make decisions regarding the day-to-day affairs and health care decisions for another individual that is not able to make their own decisions.

Medicaid / Medicare Planning

Medical Assistance or Medicaid planning, involves a concerted effort to make decisions regarding the spend-down of an individual’s estate for purposes of qualifying for Medical Assistance or Medicaid benefits. It may also involve the use of Special Needs Trusts or Supplemental Needs Trusts to pass assets to a disabled beneficiary with special needs to avoid disqualification from receiving existing Medical Assistance, Social Security Disability, or other benefits.

Medical Directives

A Medical Directive, or Health Care Directive, also sometimes called a living will or power of attorney for health care, is a document where an individual appoints another individual or company as a fiduciary called the health care agent and empowers that health care agent to make decisions regarding the day-to-day affairs and health care decisions for another individual that is not able to make their own decisions. In our office, we charge a flat fee of $50.00 for a Medical Directive.

Power Of Attorney

A Power of Attorney is a document where an individual appoints another individual or company as a fiduciary called the attorney-in-fact and empowers that attorney-in-fact to make financial decisions regarding bank accounts, investment accounts, real estate interests, and other assets, in the event that the individual is not able to make their own decisions. In our office, we charge a flat fee of $50.00 for a Power of Attorney.

Probate

Probates are Court proceedings where an individual or company is appointed by a Judge as Personal Representative, also referred to as the Executor, and ordered to gather the assets of a deceased individual, pay any and all allowable claims, and distribute any and all remaining assets to the individual’s heirs and beneficiaries. In Minnesota, only estates larger than $50,000.00 in value may have to go through probate proceedings. Smaller estates may be eligible to be administered using an Affidavit of Collection of Personal Property. Probate may be avoided entirely by use of various estate planning documents.

Revocable Living Trusts

A Revocable Living Trust, or Inter-Vivos Trust, is a specialized trust document, in which the individual creating the trust document and transferring assets into the same, makes that transfer during the individuals life but reserves the right to control of and dispose of the asset transferred. A Revocable Living Trust is often used to avoid the need for a probate proceeding or to manage assets for minor children beyond the age of twenty-one. In our office, we charge a flat fee of $500.00 for a basic Revocable Living Trust; however, a more complex Revocable Living Trust may be slightly more expensive depending on the client’s unique circumstances.

Revocable Trust

A Revocable Trust, sometimes called a Revocable Living Trust or an Inter-Vivos Trust, is a specialized trust document, in which the individual creating the trust document and transferring assets into the same, makes that transfer during the individuals life but reserves the right to control of and dispose of the asset transferred. A Revocable Trust is often used to avoid the need for a probate proceeding or to manage assets for minor children beyond the age of twenty-one. In our office, we charge a flat fee of $500.00 for a basic Revocable Trust; however, a more complex Revocable Trust may be slightly more expensive depending on the client’s unique circumstances.

Simple Wills

A Simple Will, is one of the most basic estate planning documents, and is used to nominate a Personal Representative, or Executor, who is provided with guidance for administering an individual’s probate estate. A Simple Will may also be used to nominate a Guardian for minor children. A Simple Will is not used to avoid the need for a probate proceeding. In our office, we charge a flat fee of $50.00 for a Simple Will; however, a more complex Will may be slightly more expensive depending on the client’s unique circumstances.

Special Needs Trust

A Special Needs Trust is a special type of Trust used in circumstances in which the intended beneficiary with special needs who is currently receiving some type of Medical Assistance, Medicaid, Social Security Disability, or other services, and assets are conveyed to that intended beneficiary without disqualifying that individual from receipt of other benefits.

Supplemental Needs Trust

A Supplemental Needs Trust is a special type of Trust used in circumstances in which the intended beneficiary with special needs who is currently receiving some type of Medical Assistance, Medicaid, Social Security Disability, or other services, and assets are conveyed to that intended beneficiary without disqualifying that individual from receipt of other benefits.

Trusts

A Trust is a specialized estate planning document, in which the individual creating the trust document and transferring assets into the same, appoints an individual called the Trustee, as the fiduciary responsible to manage that trust for the intended beneficiaries. A Trust is often used to avoid the need for a probate proceeding or to manage assets for minor children beyond the age of twenty-one. Certain types of Trusts may even be used for specific tax benefits and charitable purposes. In our office, we charge a flat fee of $500.00 for a basic Trust; however, a more complex Trust may be slightly more expensive depending on the client’s unique circumstances.

Wills

A Will is one of the most basic estate planning documents and is used to nominate a Personal Representative, or Executor, who is provided with guidance for administering an individual’s probate estate. A Will may also be used to nominate a Guardian for minor children. A Will is not used to avoid the need for a probate proceeding. In our office, we charge a flat fee of $50.00 for a Will; however, a more complex Will may be slightly more expensive depending on the client’s unique circumstances.

Estate Planning Document Price List

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