Parker & Wenner offers complete estate planning services and representation in the probate process. Effective planning is necessary and helpful regardless of whether an individual’s estate is relatively simple or more complex. We are committed to helping our clients protect and preserve all that they have worked for throughout their lives, and to help our clients navigate the probate process during what can be a very difficult time.
Probate is the process of administrating someone’s estate after they have passed, and involves a determination of assets and obligations that are part of the estate as distinguished from assets which may be passed to a spouse or another individual through joint tenancy, the creation of a trust prior to death, or the like. From the initial filing of the estate documents to the closing of the estate, we guide you through each step, offering counsel and guidance based on our years of experience and our knowledge of the process.
The effective use of a Last Will and Testament can provide for your loved ones, distribute your estate according to your desires, and make important decisions regarding the care of minor and special needs children. Parker & Wenner offers complete Will drafting services. We review your circumstances, seek to understand your intentions, and offer crucial guidance and counsel. Will documents are executed only after you are satisfied that the document completely includes your intentions.
Trusts are an excellent and often necessary tool for providing for loved ones while simultaneously preserving your estate. Not every client is well served by a simple Will and, on the other hand, trusts are not for everybody. You need component legal counsel to assist in determining whether and what type of trust is right for you. We guide you through this decision and advise you of the variety of trust vehicles designed to accomplish different objectives.
An important part of the estate planning process includes analyzing the estate for any potential tax issues. These considerations can be extremely complex in nature, and we often involve your accountant or experts with whom we confer to identify potential or real tax problems or risks. The determination of the proper mechanisms for addressing potential tax consequences requires a variety of expertise, including competent legal counsel.
Power of Attorney
An often overlooked component of your estate plan, even in your youth, includes the power of attorney which allows you to designate an individual to manage your financial affairs or address issues involving your assets if you are unable to do so on your own for any reason. A power of attorney must be executed at a point in time when the client is competent to do so. Although many people assume that they can delay this important planning step, oftentimes it is too late when the need for the power of attorney arises. This relatively simple document can avoid serious complications in the future and is essential to your overall plan.
Health Care Directive
Minnesota law, as well as law of virtually all other jurisdictions, allow persons to execute a Health Care Directive or medical power of attorney forms. This document informs your medical care giver and loved ones as to the care you elect to receive or not receive in circumstances near the end of your life. Delaying the execution of this document until you need it is not an option, as you most likely will not be in a position to execute such document at the time that it is required.
For more information on probate and estate planning, please contact Nic Wenner at 612-355-2202.