Estate Planning
Often, such family law legal counsel is infused with business, tax and real estate implications in which we have significant experience.
We understand that the estate planning process involves important decisions that are sometimes difficult. Because of this, many people put off planning their estates.
Our clients are individuals and families of all walks of life and all stages of life. If you are getting married, getting divorced, bringing a child into the family, buying a new home or retiring, you should create or update your estate plan. If you own a small business, we can ensure your business succession planning dovetails with your estate planning.
We are committed to providing guidance and advice to clients during every step of the estate planning process. Our individualized estate planning services put your wishes in writing to provide for your care and avoid unnecessary disputes or delays in settling your estate.
What is an Estate Plan?
An estate plan is a set of documents that protects your interests and your loved ones in the event of your death or a debilitating condition. Without at least a basic will, family members would be faced with difficult decisions, and the state of Minnesota would determine who inherits your property.
Why an Estate Plan?
- With an Estate Plan
- You decide who receives a share of your assets.
- You decide how and when your beneficiaries will receive their inheritance.
- You decide who will manage your estate (personal representative, trustee, etc.).
- You select a guardian for any children.
- You provide for an orderly continuance or sale for a family business.
- You show your family that you cared enough to plan.
Without an Estate Plan
- State laws determine who inherits your assets.
- The terms and timing are set by law. Your children could be left with total and immediate control of a sizeable estate.
- The court appoints administrators who may not share your views on anything.
- Costs are usually greater, due to taxes and administrative expenses.
- Financial loss and hardship may result from an untimely sale.
- Your family is left to guess and argue about what your wishes may have been.
We provide a wide range of probate law services to assist clients with their legal needs. From estate planning to probate litigation, our experienced attorneys are dedicated to helping you achieve your legal goals. We understand that every client has unique needs, and we work closely with you to develop a customized legal strategy that fits your individual situation. Our goal is to ensure that your loved one's legacy is protected and that their assets are distributed fairly.
The Law Offices of Troy M. Schrempp, ESQ provides legal advice and representation for residents of the Twin Cities metro of Minneapolis and St. Paul, Minnesota. This includes cities such as Lake Elmo, Woodbury, Oakdale, St. Paul, Maplewood, White Bear Lake, Stillwater, Oak Park Heights, Edina, Eden Prairie, Bloomington, Minneapolis, Richfield, St. Louis Park, Wayzata, Minnetonka, Hopkins and counties such as Dakota County, Scott County, Hennepin County, Washington County, Ramsey County, Carver County and Anoka County.