The trust is a very popular component and tool to be used in estate planning. However, there is a variety of vastly different trust options to be used and the question arises: “Am I using the right trust for my needs and goals?” Often used trusts include: living trusts, testamentary trusts and irrevocable trusts; each serves a different purpose, each has a different result. One common problem that often needs addressing is the over-utilization of the living trust for goals or problems that it does not resolve. For example, “Does my living trust protect my assets against Medicaid and the nursing home?” The answer is probably not. The irrevocable trust and the testamentary trust each have their strengths and weaknesses as well. We will clearly define the strengths and weaknesses of these different types of trusts and when to use them. Explore your goals and wishes to see where they fall in the realm of trusts. Class encourages questions and we hope to provide answers that will set your mind at ease or assist you in the decision making in this area.

In this class, we will do an in-depth walkthrough of an actual Minnesota Probate Estate from the filing of the application for probate to the final accounts - and all the steps in between. Class participants will learn the entire process with current forms, court and filing requirements, accounting and procedural steps, as well as the procedures for the sale and distribution of estate assets. We will also discuss the roles, responsibilities, and liabilities of a person who is appointed as the executor/personal representative. The class will be filled with real-life examples and solutions to the multitude of issues involving a typical (or not typical) Minnesota probate estate. This class encourages questions: Is there a “reading of the will”? What about personal items? Does the executor get paid? What about estate bills and creditors? We will provide the answers!

The concern: Your family has a cabin, homestead, hunting land, farm or second home. How do you protect this family legacy and move its use and enjoyment into the future? The problem: Various sources and forces threaten its very existence. The nursing home and Medicaid (MA), estate taxes, family divorces, creditor and bankruptcy issues, taxes and operating expenses, unequal resources of owners, the in-laws, and use and enjoyment equality. The answer: We will provide real-life solutions and explore four paths to resolution that will solve your problems without driving the family apart or sacrificing the family legacy asset.

The biggest fear for most Baby Boomers is how to pay for the nursing home and still leave an inheritance for the next generation. We will walk through the following questions and more: How will I meet my nursing home goals? Are long term care insurance and/or home healthcare for me? Should I gift my money away? Would I qualify for Medicaid? Does my current trust protect my assets and avoid the nursing home? What is the 60-month claw back? What if my spouse goes into the nursing home and exhausts our money? Get the answers to these and other questions and learn how to create an effective plan to deal with these uncertainties.

In each Minnesotan’s life, there are ten people we should be prepared to count on as we age and move into the last stages of our lives. In this class we will learn the answers to: What are the roles and responsibilities of these people? How long do they serve and how much of a time commitment are we asking? How much guidance can we give them? Who makes an ideal selection for each of these vastly different roles? Who makes a bad selection for these roles? What pitfalls and problems should we be aware of? These jobs include: Attorney-In-Fact, Health Care Agent, Estate Executor, Trustee, Guardian and more. All are vastly different jobs that benefit you and they deserve careful thought. This class encourages questions. We will provide the answers.