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I am frequently asked whether a person should have a Will. The short answer is that yes, most people need a Will, especially if the testator (the person making the will) has significant assets and property, and wants to control how his or her property is disputed after death.

If you die intestate, and do not have a Will, the property that you own at the time of your death will pass on to your heirs according to the laws of the state of Minnesota. You may not be happy with the results.

There are many reasons for you to have a Will, but the main reason – at least for me – is control. You get to control who is going to be your personal representative, trustee (if a trust is necessary), guardian for your children, etc. After all, what happens to your property after you die should be your choice – not the choice of the legislature (in its infinite wisdom). Rather, your property should be distributed according to your wishes, and what you want to happen should happen.

With a Will, you can clearly tell your family what you want to happen to your personal property, and minimize confusion in doubt about what should happen. Saying what you want to happen in advance of your death will make it a lot easier for those who come after you, and go a long way towards keeping peace in your family. If you tell your children who should get grandma's chifferobe, your children will not spend time, energy, and money fighting about it.

A Will may also be appropriate if you have unique assets, such as antiques, collections, heirlooms, or a family business, or a unique personal situation, such as a minor child or incapacitated or beneficiaries who have not yet reached the age of majority. With a Will, you can include persons who would not otherwise be heirs, such as stepchildren, friends, and charities, and exclude persons who are hairs under the law and entitled to receive a portion of your estate.

Your needs and whether a Will is right for you depends on your specific situation. You should seek the advice of an attorney before taking action based on this blog post.  To that end, I invite you to give me a call at 763-450-9494 to discuss  your unique situation.

WARNING: The information contained in this blog post does not constitute legal advice and may not be applicable to your situation.  Tim is licensed to practice law only in Minnesota, and the information contained in this blog post may not apply to jurisdictions outside of Minnesota.  Further, reading this blog post does not create an attorney-client relationship between you and Baland Law Office, P.L.L.C.  You should always discuss your situation with an attorney before taking any action based on what you may read in this blog.  To that end, please call (763) 450-9494 to set up an appointment to discuss your situation.











 


Comments

This is really a precious information you have given here to guide people for their problems related to their property and business. A lot of people who think like this always have a will and this helps their trustees a lot in their future.

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02/02/2017 5:55am

This can be an exceptional case but yes. You need it. Think today of what can happen tomorrow .

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