Welcome, we are glad that you have found our website! Here at the Thompson Law, PLLC, we take a lot of pride in our connection to Fertile, MN. We have a strong, tight knit community here, and we do everything possible to help our neighbors preserve their legacies.
This area is a fantastic place to live, and the benefits are multifaceted. You have the peace and quiet that you get from small-town living, and you simultaneously have access to all of the amenities that a sizable metropolitan area can offer.
If you are a resident, you know that one of the highlights of the year here in Fertile is the Polk County Fair. This event brings people together, and it is truly something special. The fair dates back to 1900, so it has been a showplace for farmers, craftsmen, and artisans for a very long time.
Fertile MN, Estate Planning Lawyers
The process of estate planning is something that can seem rather complicated and intimidating to many people. This can cause procrastination, because a lot of folks simply don’t know where to begin. There can also be a reluctance to reach out to an estate planning attorney, because you have to discuss sensitive subjects. We understand this sentiment, and we have been helping Fertile residents for a long time, so we know how to make our clients feel at ease.
You don’t have to hesitate if you would like to discuss your estate planning objectives with a local law firm that speaks your language. We can get to know you, learn about your financial situation and your family dynamic, and answer all of your questions.
If you decide to proceed, we can help you create the ideal estate plan for you and your family.
Personalized Planning for Fertile Residents
There is no one-size-fits-all estate plan that is going to be appropriate for every family. This is why you should be very careful about do-it-yourself estate planning ideas that are floated on the Internet. If you are not fully informed, how would you know what documents to use? There are those who think a last will is all you need, but this is really not the case.
In fact, a last will would not be the right choice for many people. High net worth individuals can be exposed to the estate tax, and you have to understand the fact that your farm would be part of your estate if you are a farmer. There are certain types of trusts that can be used to ease the estate tax burden.
There is also the matter of probate. A last will would be admitted to probate, which is a legal process. The probate court supervises the administration of an estate when a will is admitted to probate, and this process comes with some drawbacks.
The heirs don’t receive their inheritances while the estate is being probated, and it will typically take close to a year if there are no particular complications. Expenses accumulate during probate as well, and this is another drawback.
To avoid these pitfalls, you could use a living trust instead of a last will as the centerpiece of your estate plan. This is one type of trust that can provide benefits, but there are others. The circumstances will dictate the correct course of action.
Medicaid Planning with an Experienced Fertile Attorney
In addition to the estate planning side, we also handle elder law matters. The most pressing elder law issue of our day is the matter of long-term care. Most seniors will need living assistance eventually, and many of them reside in nursing homes at the end of their lives. These facilities are very expensive, and Medicare is not set up to pay for long-term care. The Medicaid program does pay for long-term care, but it takes careful planning to qualify without losing anything in the process. This is because you cannot gain eligibility if you have significant assets in your own name.
There are strategies that can be implemented that lead to future Medicaid eligibility, even if you have assets when you initiate the plan. We understand the program thoroughly, and we have helped countless people here in Fertile protect their legacies.
A Fertile Estate Planning Attoryney Can Help
Our firm has deep roots in the community, and we take a lot of pride in our commitment to our neighbors here in Fertile. If you would like to put an estate plan in place, we would be glad to help. To set up a consultation, call us at (701) 738-0060 or send us a message directly. We look forward to serving you!
