What is a Trust? A business entity, such as a corporation or LLC, is a paper person—a “thing” in its own right. In Minnesota, a trust is not. A trust is not a “thing” or a person under the law. A trust is a property relationship involving three roles: settlor, trustee, and b [...]
If you’re a lawyer, yes. If you’re not a lawyer, no. Except when dire emergency prevents the calling of a lawyer, no layperson may draft another’s will. Gardner v. Conway, 48 N.W.2d 788, 797 (Minn. 1951). In Minnesota, drafting a will for another person counts as the unauthor [...]
A guardian may believe that certain communications or visits of a person subject to guardianship pose a risk of significant physical, psychological, or financial harm. The guardian may therefore want to restrict the communications or visits of a person subject to guardianshi [...]
Sometimes a guardian or conservator acts as if they are the “alter-ego” of the person subject to guardianship or conservatorship. The powers of a guardian or conservator are, however, not unlimited. For example, a guardian or conservator in Minnesota must consider the person [...]
An executor—called a personal representative in Minnesota—is a person or institution appointed to handle a probate estate worth over $75,000. Under a will, a personal representative is often nominated by the person who died, called the decedent. In Minnesota, a nominated per [...]
What is a Power of Attorney? A power of attorney is a written document that allows one person to act on behalf of another. Just as a written lease document casts the people involved into two new roles—landlord and tenant—a written power of attorney document casts the people [...]
In Minnesota, a will must be in writing. Minn. Stat. § 524.2-502(1). Unlike a will, a trust can be created either orally or in writing unless the trust would change an interest in land. Minn. Stat. § 501C.0407. Trusts created only orally are called “oral trusts” and have set [...]
Using a written power of attorney, a person (called a “principal”) can appoint someone as their agent (often called an attorney-in-fact) to manage their financial affairs. In Minnesota, a written power of attorney that is dated and properly signed is presumed to be valid. Mi [...]
What is Elder Law? Elder law is the field of law dealing with estate planning and benefits, including related disability issues. Among other things, elder law attorneys handle benefits applications, facility placement applications, powers of attorney, health care directives, [...]
