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Planning an estate can be a challenging task. By taking the time to thoughtfully create an estate plan, you can identify those persons who will receive your property when you are gone. Your plan may provide for your loved ones and other individuals or charitable organizations. An estate plan, whether accomplished through a simple will or the use of more sophisticated trusts, serves as an essential guide for your representatives regarding the transfer of your property.
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When a loved one passes away, working through the legal process can seem overwhelming to you. The most immediate task is to focus on making the funeral or service preparations and to honor your loved one’s life. When you are ready, Donohue Green Law Office will guide you through the process with compassion and careful attention to your specific needs.
In Minnesota, trustees are held to certain high standards regarding their fiduciary duties. Both individual and corporate trustees may need to seek legal guidance from time to time. If you have questions about the requirements and duties involved in accepting a trustee position or if you are concerned about making certain decisions, Donohue Green Law Office can help guide you to ensure that you make the correct one.
Guardians are assigned to assist individuals who are determined by a court to be unable to take care of themselves (sometimes referred to as a “protected person” or “ward”). A guardian is appointed to make decisions for the protected person regarding general care and day to day needs. For example, the guardian may choose the type of support, health care, and education that the protected person will receive as well as where the person will live. By creating an effective estate plan, you can avoid having a court appointed guardian in the event of incapacity.
Conservators are similar to guardians in that they are appointed by a court following a determination of incapacity. A conservator is appointed to make financial decisions for the protected person. The conservator typically has the power to contract, pay bills, invest assets, and perform other financial functions for the protected person. However, these powers can be limited depending upon the capacity level of the protected person. Creating a trust and naming a trustee is one way to avoid a court appointed conservator.
If you are starting a business, ask Margaret D. Green how she guides clients through the formation process so they can immediately focus on achieving their business goals.
