I want to be responsible. Do I need a will?
You probably have heard the old warning: You can't take it with you! You go out with just what you came in with. One day, all that you have saved, built up, and put together, will be left behind. What happens to your earthly belongings once you no longer belong on earth is up to you.
A will is your written direction as to who gets what and how they get it. If you do not make a plan of your own, your state of residence, such as the the State of Minnesota, has a plan that will take care of your things after you have gone. This plan is in a law called the intestate statute, found at Minnesota Statutes, chapter 524.2 It is not a simple plan and varies depending on whether you are married, how long you have been married, whether you have children and the age of those children, plus a variety of factors.
If you want to decide for yourself what happens to you belongings, you must create an estate plan. The tools available include wills, trusts, joint accounts, payable on death (POD) accounts, life insurance, real estate deeds, powers of attorney, and health care directives. You can use any or all of these tools, depending on what you own and what you want to happen. To get an idea of your choices, try completing a Will Information Form for yourself. Click on WillInfoForm. Do you need a will? Probably yes. To find out for sure, call Rick Jellinger for a free consultation.