Andover, MN asked in Estate Planning for Minnesota

Q: My husband and I need to make a will or trust and we don't know where to start.

We don't have a large or very complicated estate, I don't think, and we only have 1 heir that everything will go to (our 23 year old son, who does not live with us). But we do have our house and also some land in another state, in addition to the normal retirement accounts, savings accounts, etc. (our son is already contingent beneficiary on these). Not sure if a will would be good enough, or if we need a trust due to the 2 real properties.

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1 Lawyer Answer
Neil P Thompson
Neil P Thompson
  • Estate Planning Lawyer
  • Bloomington, MN
  • Licensed in Minnesota

A: Yours appears to be a straight forward basic estate plan, one that a Will plan would work well. The property in another is or can be problematic and a review of which state the property is in would be necessary. That being said a basic will, power of attorney and health care directive for each of you and transfer on death deeds recorded with the county for each of your properties would probably accomplish your needs.

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