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FREQUENTLY-ASKED QUESTIONS: MJ AUSTIN LAW, PLLC
OCTOBER, 2019
Absolutely. Marjorie has practiced mainly in the area of estate planning for over 20 years. She offers the strategic know-how needed to carefully word your documents in the most valid and effective manner possible.
Marjorie carefully listens to each client’s situation and needs. Based on the individual setting, she suggests appropriate choices of planning documents to fit the client’s goals. A Will or Trust, chosen to protect her client, is carefully discussed. MJ Austin Law uses a teamwork approach, client and trusted attorney, helping people protect their loved ones effectively.
Putting assets into a revocable trust can avoid what some believe is a costly, time-consuming probate process. But this may not be the best move for everyone. MJ Austin Law strongly believes this choice is highly individual and Marjorie helps her client find the right match.
No, estate planning is meant to protect people during their lifetime, as well. Most plans include important, necessary healthcare directives and powers of attorney for finances. Healthcare directives and powers of attorney for finances can prepare for the possibility of accident, disability, and dementia. These documents are essential to good, loving protection.
At MJ Austin Law, we are committed to keeping the planning process moving from start to finish. The normal procedure is 2 office consultations with attorney and client. At the first meeting, we put that second time on the calendar so that the planning does not get bogged down mid-stream.
It is important to consider using a trust to ensure flexible administration and transfer of assets when dealing with real property outside Minnesota. Without a trust in place, a probate process would likely be needed in Minnesota and the state in which the client has the vacation home. A trust can eliminate the need for any probate, let alone two!
Marjorie says, “You need estate planning when you have someone to protect – and it can be YOU.” Estate planning can take unneeded stress from our future. It is essentially another form of insurance – protection against risk... the risk of accident, risk of disability, dementia, as well as death. At MJ Austin Law, we call this ‘peace of mind planning’.
Estate planning applies to everyone. You want to make sure that your property, whatever accounts or valuables you may own, goes to the people of your choice. Also, you want a healthcare directive and power of attorney in place to protect you during your lifetime.
Unfortunately, we know that life can change suddenly. The truth is, it doesn’t matter how old we are or how much of an estate we have, and putting a plan in place is the best thing we can do for us and our loved ones. Many MJ Austin clients send their children in upon turning age 18 to put the healthcare directive in place, an important protection for their children.
While being married does make dividing your assets easier, there are important instances where the spouse’s signature alone is needed to pass property. What if there are certain things that you’d like to go to other people?
While we hope that our loved ones will honor our wishes, the truth is that real messes often crop up. It’s best to write your wishes down, to clarify them so that your loved ones can avoid family difficulties at a clearly emotional time.
Estate planning is not a do-it-yourself project. There are many ins and outs of the law when it comes to trusts and wills. You want the documents to work as effectively as possible when the time comes. There is no sense in saving a little now only to have a document that doesn’t work when it’s needed.
MJ Austin Law has worked with many people in long-term relationships. Without the legal protection of marriage, it is still possible and important to have documents in place that assist in making sure the relationship is legally recognized. One important instance is signing the healthcare directive giving each other access to medical needs in the possible event of injury.
The future of a family member with a disability can be greatly enhanced by putting a Supplemental Needs Trust or Special Needs Trust in place for that person. MJ Austin Law can assist with this.
MJ Austin Law can help with a cabin trust to ease the future family enjoyment of the vacation home. Keeping the cabin in the family is a priority at MJ Austin Law.
MJ Austin Law PLLC
12800 Whitewater Drive, Suite 100, Minnetonka, MN 55343
