Protecting Your Wishes With Wills And Trusts
Experienced Guidance for Creating a Will
Have you thought about how your wealth and property will be distributed in the event of your death? By establishing a will, you can name your beneficiaries and decide exactly how your estate assets will be divided.
If you have children, a will allows you to appoint a trusted person to serve as their guardian in the event you are no longer able to care for them yourself.
At the Law Office of Barbara J. Gislason, we can guide you through all aspects of creating a will and other important estate planning documents. By taking this step now, you can gain peace of mind that your wishes will be set in stone.
The Value of Establishing Trusts
Trusts provide many options for protecting assets and providing for loved ones. Skilled implementation of trusts can also help your surviving family members avoid the stress and expense of the probate process.
In Minnesota, you can create different types of trusts, each having different functions. Some common types of trusts include:
- Living trust: Also known as an inter vivos trust, a living trust is created while you are alive and allows you to name yourself as trustee or beneficiary during your lifetime.
- Supplemental needs trust: Provides funds for a disabled person without rendering them ineligible for public assistance.
- Burial trust: Sets aside money for funeral, burial, and cremation services.
- Spendthrift trust: Sets aside assets for a person who cannot be trusted to make sound financial decisions for themselves.
- Charitable trust: Allows the trust grantor to set aside money for a charitable cause.
Attorney Barbara Gislason is well-versed in the various trusts available under Minnesota law. She can provide you with the guidance you need to protect assets and provide for your loved ones with the skilled implementation of trusts.
Providing for a Beloved Animal with a Pet Trust
Did you know that you can now include animals in your Minnesota estate plan? By establishing a legal instrument called a pet trust, you can provide for your pet’s long-term needs. As a pioneer in animal law, Barbara is prepared to offer you valuable insight into this emerging legal area.
In her opinion, creating a pet trust is the best way to make sure that assets are legally and reasonably dedicated to your pets’ future care. This is because with a pet trust, as part of your overall estate plan, there are legally enforceable safeguards.
Companion animal owners who love their pets care about providing for their long-term needs. Minnesota passed a pet trust law in 2016. It is now legal for pets to be trust beneficiaries in the event of your disability or death. Barbara played a major role in the passage of this law. Make a pet trust a part of your last will and testament or other estate planning documents.