At Leslie A. Anderson, Ltd. we understand that no one likes to think about death and dying. We also understand that a little bit of thought and planning right now will make the process easier on your loved ones when the time comes. Whether you have a complex or simple estate, traditional or blended family, or need assistance performing a fiduciary duty, we have the knowledge and experience to put an effective plan in place to help you achieve your goal.

Having an estate plan is a smart way to plan for the future, protect the people that you love and make sure that your wishes are carried out. Many people believe that you do not need an estate plan if you are not wealthy or do not have a large income - this is a misconception. Estate planning is for anyone who desires that particular assets reach a particular destination. At Leslie A. Anderson, Ltd. we have experience creating estate plans for clients in all walks of life with income that varies from hourly wages to professionals and business owners.

Depending on your needs, we can help you create a complete estate plan. Some of the tools that we use include wills, spousal and children's trusts, insurance trusts, special needs trust, irrevocable trusts, health care directives and powers of attorney. If your needs are simple, one tool may accomplish your goal; if your needs are more complex, we may use a combination of tools. Either way, we always strive to find the plan that will reduce estate taxes, protect beneficiaries and protect your assets from creditors. We custom-draft our estate planning documents to take your unique situations into account.

At Leslie A. Anderson, Ltd. we can help you put a plan in place to get the property that you own to the people that you love.

WILLS
The first tool you will need in your estate plan is a will. A will is a formal legal document that states how you want your estate distributed. Whether a will is simple or complex depends on the specific purpose of the individual (the testator) and the size of the estate. Not only can a will distribute assets, but the testator can use it as a tool to appoint certain individuals who he/she wants to perform vital functions once the testator is incapacitated or deceased. This includes nominating a guardian to take care of any minor children. A will also provides the testator with the opportunity to nominate a personal representative. A personal representative is responsible for carrying out the wishes stated in the will, which include among other things, settling the financial affairs and distributing the assets.

TRUSTS
A trust is a separate legal entity that controls the assets that are placed in it. A trust is a common estate planning tool that allows the trustor, the person who transfers or conveys property into the trust, to control property after his/her death. Every trust has three key players: (1) trustor, (2) trustee, and (3) beneficiary. The trustee is the person or institution who is responsible for the administration of the trust; this includes managing the trust and its assets. The beneficiary is the person or organization who is the recipient of some or all of the funds or other trust assets.

Sometimes a trust is set up and assets transferred into it while the settlor is still alive; this type of trust is called an inter vivos (living) trust. On the other hand, the settlor may prefer to set up the trust in such a way that the assets do not transfer until the settlor's death; this type of trust is called a testamentary trust.

Trusts serve a variety of different purposes. Some examples include property management, asset protection, and providing for family members with special needs. At Leslie A. Anderson, Ltd. we will help you determine which type of trust best serves your particular purpose and objectives.

PROBATE
At Leslie A. Anderson, Ltd. we offer experienced legal representation for matters of probate and estate administration. Probate is the legal process by which a person's debts are paid and assets are distributed upon his or her death. Estate Administration includes the probate process as well as non-probate transfers of the deceased's estate.

For many executors, the responsibilities involved with the probate process can seem overwhelming. If you are an executor that is wondering what your role is and/or where to begin the process, we are here to help. We will help you understand exactly what your responsibilities are and we will guide you through the process of fulfilling those responsibilities.

State laws and procedures vary greatly, so it is important to consult a firm with expertise in this area of the law. Contact us today and we can talk with you about the process.


Maple Bank Building | 11660 Theatre Drive N | Suite 270 | Champlin, MN 55316 | Phone: (763) 549-0516 | Fax: (763) 549-0518

Copyright 2009 Leslie A. Anderson, Ltd.