Do I Need a Will if I Don’t Have a Lot of Assets in Minnesota
A will is a legal document that defines the distribution of your assets and the guardianship of any children or dependents in the event of death. It ensures the state abides by your wishes and saves your heirs additional time and money.
Some St. Paul residents wonder if a will is really necessary without a plethora of assets to distribute. In this article, we’ll break down why a will is necessary and how you can create one.
Why a Will is Necessary
While it may seem silly to get a will when you don’t have a lot of assets, this legal document actually serves several purposes.
Here are a few of those purposes:
- You can keep assets away from those who shouldn’t have them
- You can decide who will take care of your children in the event of a death. Otherwise, the court has to decide.
- Your heirs will be able to obtain your belongings without the hassle of long court sessions and mediation.
- You can give gifts and charitable donations to organizations you believe in.
- You maintain control of all assets until death and can change the terms at any point necessary.
Even if you don’t have houses or extravagant items to pass down, it’s still smart to keep a record of which items belong to who. That way, you guarantee your wishes and those of your loved ones are respected after death.
How to Create a Will
If you want to write a will in Minnesota, there are a few requirements to get started. These are as follows:
- You must be at least 18 years of age and of sound mind
- The will must be in writing and signed by yourself or somebody on your behalf
- Two witnesses must remain present and sign the will
- The two witnesses must be at least 18 years of age
Minnesota does not accept handwritten wills without witnesses, so it’s crucial to type or print the will and have witnesses sign.
It’s best to work with an experienced attorney to create your will. This ensures you meet all legal requirements and avoid any challenges for heirs after death.
Contact An Experienced Estate Planning Attorney in Minnesota
At the Law Office of Clarence Patterson III, our team is dedicated to helping and representing you. You will have an experienced attorney who is easily accessible, patient, tech savvy and efficient so that you can save on attorney costs.
Our firm primarily serves the areas of Ramsey County, Washington County, Hennepin County, Dakota County and other areas around Minnesota. If you are in need of an experienced estate planning attorney in Minnesota, please contact us today to schedule your free case evaluation.
