Most people who come to me have already made up their mind: they just want a simple will. It feels like the easy answer. And for a small number of people, it is. But for most, a simple will leaves real gaps. It does nothing if you become incapacitated; it doesn't keep your estate out of probate; it becomes public record once it's filed, and it offers no protection from Minnesota's estate tax, creditors, or a divorce.
In this video, I walk through what a simple will actually does, where it falls short, and the other tools most Minnesota families need: a revocable living trust, a transfer on death deed, a power of attorney, and a health care directive. My goal isn't to talk everyone into a trust. It's to help you understand what each document does so you pick the right plan for your situation.
What I cover:
- What a simple will actually does, including naming a guardian for minor children
- How Minnesota's informal probate works — and the four-month creditor claim period that catches families off guard
- Why a will does nothing if you're alive but incapacitated
- The three ways your assets pass: through your will, a trust, or a beneficiary designation
- How a trust keeps your estate private and out of probate court
- Minnesota's $3 million estate tax threshold and why a will alone won't help
- When a simple will genuinely is enough
Have questions about your own plan? Schedule a call directly on my calendar, and we'll talk through what makes sense for you.
