The trust is a very popular component and tool to be used in our Estate Planning. However, there are 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 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.

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 including: How will I meet my nursing home goals? Is Long Term Care Insurance for me? What about home healthcare? Should I gift my money away? Would I qualify for Medicaid? What about my current Trust, does it 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.

The Concern: Our family has a cabin, homestead, hunting land, farm or second home: How do we 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 our problems without driving the family apart or sacrificing the family legacy asset.

This is a relaxed and friendly open-forum seminar for participants with a seasoned Will & Trust attorney. Questions like: Should I avoid Probate? Is a Will good enough? Do I need a Trust? How does my plan deal with the nursing home? How do we gift the assets of husband and wife? What about separate assets not of the marriage? If I am alone, what tools protect me best? How do I decide who should serve in my estate plan? What is the death tax? How do I avoid leaving a mess for my children? Which Trust is best for my needs? Can I use a Transfer-On-Death Deed? How do my retirement assets operate in my Will or Trust? All questions will be answered!