2809 Cliff Road / Attorney at Law
Suite 100 / Licensed in:
Burnsville, MN 55337 / Minnesota
Tel: (651) 705-8800 / North Dakota
Fax: (651) 705-8803 / Colorado (inactive)
Please read and complete this information before the will class so that you are ready to write your will during the class. Write answers to the questions on these sheets, andbring the sheets with you to class.
First, definitions of a couple of words you need to know:
Estate: All the property you own when you die. It includes both real estate and personal property.
Probate:A legal proceeding after you die which does three things: 1. Assures that your bills are paid. 2, Assures that any taxes due are paid. 3. Assures that the wishes you state in your will are carried out. Your personal representative is responsible to assure that the probate proceeding is completed for your estate.
Here are questions you need to answer before coming to class:
1.Who do you want to receive your estate when you die?
a.If you are married,you will probably want to leave your estate to your spouse if you die first.
What if your spouse dies first? If you have children, you may want your estate to go to them. Do you want to give your estate to your children in equal or unequal shares?
If any of your children do not survive you, do you want their share to go to the deceased child's children (i.e. your grandchildren) or to your other children?
b.If you are single, and have children, do you want your estate to go to them? Do you want it to be divided among the children equally or unequally? If you do not want your estate to go to your children, who do you want to give your estate to?
c.If you are single and do not have childrenwho do you want to receive your estate? If it is more than one person or charity, you may want to think in terms of percentages (e.g. 50% to my sister; 30% to my church; and 20% to my nieces and nephews).
Who do you want to receive your estate if the first people you name die before you?
2.Do you want to give part of your estate to a church or charity? If you do, check on the legal name of the church or charity, and write it here______.
Where is the church or charity located? You may just list the city. ______.
3.Real Estate: If you are NOT giving specific real estate to a specific person, it is NOT necessary to have the legal description of any real estate you own. For example, if your estate is to be divided in equal shares to your children, it is not necessary to have a legal description for your home. If you want to give your home to only one of your children, the legal description would be required.
If you have a cabin, house, condo, or land that you want to give to a specific person, you will need to have the legal description in your will. DO NOT use the description on your real estate tax statement. Get out the DEED. Write the description on the deed here, or bring the deed with you to class:______
4. PERSONAL REPRESENTATIVE: Who should be your personal representative? The person you name will be responsible for handling the probate of your estate, and then distributing your estate to the people you name in your will. You should have at least one back up. Write the names of the people you wish to name here. Married people generally name a spouse as the first choice: First choice______. Second choice______
5.WHAT AGE DO YOU WANT YOUR CHILDREN OR GRANDCHILDREN TO RECEIVE AN INHERITANCE?
A child's inheritance will be distributed to him/her at the age of 18. You may delay the distribution until the child is older by naming a custodian or trustee for the child. If you choose a custodian, the inheritance will be distributed when the child is 21. If you name a trustee, the inheritance will be distributed at the age you choose. The trustee or custodian will be able to use the inheritance for the child's needs until he/she reaches the age for distribution.
Write answers to these questions below:
a. What age do you wish to have the final distribution of the inheritance ______.
b.Who will be the custodian or trustee? If you wish to name a bank trust department, contact the bank to find out the appropriate designation for the will.______
c.If you wish to name a back up trustee or custodian, write the name here______. ?
6.IF YOU HAVE CHILDREN YOUNGER THAN 18, YOU WILL NAME A GUARDIAN FOR THEM:
a.Who should be their guardian if both parents die? ______.
b.Who should be the backup guardian?______
I recommend that you talk with the people you wish to name as guardians before listing them in your will.
Please bring your driver's license or state identification card withyou to class.
Please note: This class is not suitable for special situations such as providing for a child with disabilities, which will require a supplemental needs trust; or a second marriage where you are concerned that your spouse could change his/her will after your death and disinherit your children, which would require a living trust; or if you have a large estate (over $2,000,000) for which you wish to do estate planning to minimize estate taxes.
Revised September 8, 2015