Minneapolis Estate Planning Lawyer
Edina Wills, Trusts and Business Succession Planning Attorney
Hellmuth & Johnson's Estate Planning Practice Group serves the unique needs of our clients by creating individualized business succession and estate plans that provide for the effective control, maintenance and disposition of their assets during life and after death. We regularly represent individuals and business owners of all sizes.
Our Estate Planning Services
Our attorneys assist with our clients' business and personal estate planning needs, including:
- Asset preservation and protection plans
- Business succession planning and owner control arrangements
- Personal estate planning, including drafting wills and establishing trusts
- Estate and trust administration
- Retirement, long-term care, disability and health care planning
- Estate, gift and fiduciary tax return services
We strive to develop individualized plans that meet clients' goals; we listen carefully and guide them through the implementation of their plans. Whether we focus on asset preservation, tax planning or developing a sound exit strategy after a lifetime of business operation, our experienced lawyers never lose sight of our clients' objectives.
Trusts
Our law firm advises individual and business clients about the planning methods most appropriate to their circumstances. Although a will may meet the needs of many individual clients, others may be best served by trusts. We establish trusts to fit the individual situations of our clients. These include:
- Revocable living trust- a commonly used vehicle to avoid probate and plan for future mental incompetency and disability while an individual is alive
- Testamentary trust- usually created as part of a will or revocable living trust to provide for minor children
- Supplemental needs trust- designed to protect the assets of a disabled child while enhancing the child's life
- Irrevocable life insurance trust- the purpose of which is to place life insurance proceeds in the trust to avoid estate taxes
- Charitable remainder trusts- designed to provide income during the lifetimes of the trustor and his or her spouse, with the assets remaining after death passing to designated charities. People with substantial estates can realize tax savings during their lives.
- Charitable lead trusts- can reduce taxes to the beneficiaries of a trust by having the trust contribute to charity for a specified period of time, with the trust assets returning to the trustor or heirs.
- Granter retained annuity trusts(GRATs)- are established to provide a donor with an annuity for a fixed time. At the end of the period or upon the death of the trustor, the assets pass to the beneficiaries (who must be family members).
Contact an Edina estate planning attorney at Hellmuth & Johnson PLLC for more information.
Attorneys who handle estate planning matters are:
