Marriage

Getting married is a significant life event that should prompt an immediate update to your will or trust In Minnesota, marriage can invalidate existing provisions that don't include your new spouse, potentially leaving them without a claim to your estate. Updating your will or trust ensures your spouse is legally protected and your assets are distributed according to your wishes.

Birth or Adoption of Children

Welcoming a new child into your family, whether through birth or adoption, is another vital reason to update your will or trust In Minnesota, it is essential to name guardians for your minor children and adjust asset distribution to include your new family members. This step safeguards your children's future and ensures they are cared for by chosen guardians should anything happen to you.

Significant Asset Acquisition

Acquiring significant assets, such as real estate, stocks, or business interests, necessitates a will or trust update to account for these new holdings. Minnesota law dictates specific processes for asset transfer, and a current will can prevent disputes and ensure your assets are allocated according to your intentions.

Divorce

After a divorce, it's crucial to revise your will or trust to reflect changes in your marital status. In Minnesota, failing to update your will or trust might unintentionally leave your former spouse as a beneficiary, which could complicate asset distribution and not reflect your current wishes.

Changes in Minnesota Law

Legal changes can impact estate planning significantly. Minnesota is no exception, as amendments in estate or tax law might affect how your assets are managed or taxed. Regularly reviewing your will or trust with an attorney ensures compliance with the current legal framework and prevents potential issues.

Passing of a Beneficiary

If a beneficiary passes away, updating your will or trust is necessary to allocate their share of the estate appropriately. The absence of an update could lead to unintended beneficiaries receiving assets or causing the courts to make decisions you might not agree with.

Moving to or from Minnesota

Relocating across state lines can trigger different legal stipulations affecting your will or trust. Minnesota laws can differ from other states, necessitating a will or trust review to ensure all state-specific requirements and preferences are met, and that your estate plan remains valid and executable.

How Attorney Jeanne Anderson Can Help

Renowned for her expertise in estate planning, Attorney Jeanne Anderson assists clients through all aspects of updating their wills and trusts. By staying informed of Minnesota-specific laws and client-specific needs, Jeanne provides tailored advice ensuring your estate plan reflects your current life situation and safeguards your loved ones' futures.