Minnesota Estate Planning Law Firm
Most people want the assets they have worked hard for over a lifetime to pass to their beneficiaries seamlessly and without loss of value. The legal team at Blahnik, Prchal and Stoll focus on assisting clients to create a tailored estate plan that preserves their estate by minimizing tax and probate implications. The firm understands that estate planning is very personal and we listen carefully to our clients’ wishes before crafting an estate plan that will best help them achieve their objectives.
More than just a will
A tailored estate plan is more than just a will. We make sure that our clients understand the financial and legal tools available that can ensure preservation of value and provide the means to pass assets to heirs efficiently and according to their wishes. We help put in place trusts, powers of attorney, healthcare directives, and if needed we provide dedicated representation throughout the entire estate administration process.
People often ask "do I need a will?" Many assume that they do not have enough assets to justify spending the money to create a will. Most clients want to have everything simple – assets to their spouse or children so they think they do not need a will. However, and unfortunately, without any planning, people can leave behind quite the mess for their loved ones.
Comprehensive estate planning at Blahnik, Prchal & Stoll includes incapacity planning. Incapacity can be short term or long term, but results in a loss of decision-making capability; rendering the client incapable of making his or her own health care and financial decisions. Clients create a tailored estate plan that includes planning for both death and incapacity.
Whatever your estate planning needs are, we can help
Whether someone is single, married, a parent, elderly, with a large or minimal estate, everyone can benefit from an estate plan. Our legal professionals will listen and create a customized estate plan that meets every client’s needs.
Our firm’s comprehensive estate plan includes:
Last Will (if determined to be necessary)– A Will allows one to have a say in their property distribution and, if someone has minor children, they can appoint a guardian and custodian, in the event something happens to both parents and they die before the children reach the age of majority.
A Trust (if determined to be necessary) - Trusts come in many shapes and sizes, which are explained in further detail in the Trust section of this website.
Power of Attorney – A Power of Attorney allows the client to appoint someone to act as their “attorney-in-fact” – an agent to manage their financial affairs.
Health Care Directive – A Health Care Directive allows the client to appoint a health care agent to make health care decisions if the client is not able and it gives people the opportunity to give those agents instructions about their health care wishes.
Transfer Deeds - it may be appropriate to execute a transfer on death deed (TODD), convert property to joint tenancy or transfer property into a Trust. Our firm will help you make those decisions and will prepare all of the necessary deeds.
Will v. Trust
Many people have preconceived notions about trusts and whether a trust would be beneficial in their estate plan. Trusts can be a valuable tool, depending on the client’s type of asset base. Trusts are a mechanism or a vehicle to hold or manage assets for the benefit of certain person or beneficiaries. Trusts can oftentimes allow assets to pass directly to heirs without the publicity and cost of probate. There are many types of trusts, including revocable trusts, special needs trusts, charitable trusts, trusts for minors, life insurance trusts, and spendthrift trusts. Our law firm will evaluate each client’s estate and recommend a trust, if and only if it will truly benefit the estate.
Don’t put your estate plan on the back burner
People often put estate planning on the back burner, telling themselves that they will take care of their plan tomorrow, or the next day and eventually it becomes too late. Our legal team will help you plan for your future, today. Our firm works with busy people and provides efficient services. And, the firm seeks to minimize your costs while offering peace of mind with a practical estate plan.
Contact our law firm to start your estate plan
To determine what estate plan best fits you, contact our law firm to schedule a complimentary initial consultation.