![]() | ![]() |
![]() | Wills and Estate Planning
Attorneys Michael Burville and Anthony Moosbrugger are experienced in the area of estate planning. Estate planning includes not only planning for division of your assets upon your death but also for your own care and the care of your assets should you become incapacitated during your life and be unable to personally manage your affairs. In many cases, your estate planning needs can be met through the creation of a Will, Power of Attorney, and Health Care Directive. With a Will, you can determine who (relatives, loved ones, friends, charities, etc.) will inherit your property when you die. In your Will, you can also designate who your personal representative will be, and also appoint a guardian for your minor children in case of your death. The personal representative, often referred to as executor, is the person who administers your estate, often with the assistance of an attorney and other professionals. A guardian is someone who will take over the parental responsibilities of your minor children upon your death. A Power of Attorney is a legal document in which you give an agent, your "Attorney In Fact", the power to make legal decisions on your behalf. A Power of Attorney is only effective during your life, and usually only used in the event of your incapacity. Some of the powers that you can give your attorney in fact include: real property transactions, tangible personal property transactions, bond, share, and commodity transactions, banking transactions, business operating transactions, insurance transactions, beneficiary transactions, gift transactions, fiduciary transactions, claims and litigation, family maintenance, benefits from military service, etc. A Health Care Directive, also known as a Living Will and a Durable Power of Attorney for Health Care, can describe your preferences about issues such as surgery, nursing home/specialized care, medication, religious concerns, funeral planning, organ donation and/or the types of life-sustaining procedures to which you want or do not want to be subjected. The Health Care Directive is effective at a time when a person is living, but unable to express their wishes due to incapacity. For those with estate tax concerns, ownership of real estate outside of Minnesota, or a desire to provide for future administration and distribution of assets, more sophisticated trusts may be appropriate. If you have young children, you may wish to provide for their future care through the inclusion of guardianship provisions in your will. No matter the level of assistance required, contact us at Burville Law Office, P.A. today to discuss your concerns. Burville Law Office, P.A. Telephone: (651) 460-3757 The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Copyright © 2008 by Burville Law Office, P.A. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. |