Practice AreasAreas of Practice include but are not limited to:
|
||||||
Estate Planning (Wills & Trusts) |
||||||
|
Everyone with probate assets more than $50,000 should consider an estate plan, or at the least, a Power of Attorney and Health Care Directive, at any age above eighteen. Why? An estate plan appoints persons (trustees or personal representatives) to adhere to your instructions and transfer by bequest your assets to beneficiaries that you alone designate. If you do not have an estate plan, (Will or Trust), your estate will probably be subject to an intestate probate and thus subject to the statutes of Minnesota, for Minnesota residents. Will Package: A will is a document by which a person dictates what will happen to his property after his death. It also may be revoked. A will may include legal appointments of guardians for minor children. It may include a contingent trust section that creates a trust after death, not before. All or some assets could be conveyed to appointed trustees. A will is the document that a personal representative would file a petition to probate. The Standard Will Package includes:
The Process — Your estate plan usually requires an hour-long consultation on how you want to tailor your estate plan. We will then draft initial documents for your review and editing. Many clients request another in-person review before final execution. When all documents have been final proofed, an execution is completed. That often takes about 30 to 45 minutes. An Agreement between the attorney and client for services to prepare a will is required. You can download a copy here. |
up |
|
|||
A trust is an agreement between the Settlor or Settlors (e.g., husband and wife) and the Trustee or Trustees, (e.g., husband and wife). One common Trust Agreement is a Revocable Trust. As the name suggests, the agreement may be revoked by the settlor at any time. A trust probably will avoid a probate of the estate after death. A trust usually will be private, i.e., not in any public record. A trust may be a simple device to distribute your assets quickly after death. The package includes (as applicable):
The Process — Your estate plan usually requires an hour-long consultation on how you want to tailor your estate plan. We will then draft initial documents for your review and editing. Many clients request another in-person review before final execution. When all documents have been final proofed, an execution is completed. That often takes about 30 to 45 minutes. A "Singles" Agreement between the attorney and client for services to prepare a trust is required. You can download a "singles" copy here. A "Couples" Agreement between the attorney and clients for services to prepare a trust is required. You can download a "couples" copy here. |
||||||
Corporations & Limited Liability Companies |
||||||
These are legal entities created under the laws of a particular state such as state of the Minnesota. Many small companies choose to create a subchapter “S” corporation to shield personal assets from the assets and potential liability of the corporation. A LLC (limited liability company) offers many of the protections of the corporation without the complications of the corporation. For example, stock certificates are not issued. Thus Stockholder and Board meetings need not be held. LLC Fees: Client may choose between an hourly fee of $195.00 per hour, or a flat fee as Follows:
S-Corp Fees: Client may choose between an hourly fee of $195.00 per hour, or a flat fee as Follows:
A Representation Agreement between the attorney and client is required You can download an appropriate copy per following:
|
||||||
Other Services |
||||||
Real Estate FSBO: Real Estate For Sale by Owner (FSBO) - Charged Hourly Business Plans: Writing or assisting in writing Business Plans - Charged Hourly |
||||||
up |
• |
||||
© 2016 Paul B. Ellingboe all rights reserved |
||||
|
a BizProNet™ design |