We care, and it shows. You’re not just a number to us. We listen, and we ask questions. We strive to improve our client’s lives every day.
Are you looking for experienced trust lawyers in Minnesota? You found us.
Our Safe Harbor Estate Law team is dedicated to providing our clients with the highest quality legal services. Our trust lawyers have extensive experience in estate planning, tax planning, asset protection, and probate law.
We are skilled in creating, administering, and defending trusts. We understand the complexity of Minnesota trust law and can help you navigate the process to protect your assets and provide for your loved ones. With our knowledgeable and compassionate attorneys, you can rest assured that your trust is in good hands.
Contact a Minnesota trust lawyer today to learn more about how we can help you.
A trust is a legal document that outlines how a person’s assets are managed and distributed during and after their lifetime.
Trusts are generally created to provide long-term asset protection and help reduce estate taxes. Only certain trusts protect assets from Medicaid rules, for more information, see our page on asset protection. Trusts can also provide an efficient and private way to manage assets and ensure they are passed on to the intended beneficiaries.
Trusts can accomplish many objectives, including:
Trusts can be an excellent tool for managing assets and ensuring that assets are distributed in the desired manner.
Several different types of trusts can be used to protect assets from creditors, avoid taxes, and provide for beneficiaries. Each type of trust has its own unique set of benefits and drawbacks.
Here are the most common types.
A revocable (or living) trust is designed to be changed or revoked by the grantor (the person establishing the trust) during their lifetime. Revocable trusts are often used to avoid probate and to provide flexibility in managing assets.
The grantor can control how the assets are distributed and make changes to the trust if their circumstances change. Revocable trusts can provide some asset protection and protection from estate taxes for married couples. .
An irrevocable trust is a trust that cannot be changed or revoked by the grantor. Irrevocable trusts are commonly used to protect assets from the Medicaid lookback. They are a complex planning tool and are not recommended for every situation.
Since 2021, Minnesota recognizes that Medicaid Asset Protection Trusts can be used to shield assets from long term care expenses when applying for Medicaid after 5 years. We are experienced with Medicaid Asset Protection Trusts.
The disadvantage of an irrevocable trust is that you cannot change it after it is created, and the grantor has no control over how the assets are distributed.
A special needs trust is used to provide for a beneficiary with a disability or other special needs. These trusts provide for the beneficiary’s needs without disrupting any government benefits they may receive. A supplemental needs trust is similar and preferable and is created by a third party instead of the person with a disability. If you have a loved one on government benefits, we can help you create a supplemental needs trust to protect them.
When creating a trust, it is important to have an experienced trust lawyer help you. An experienced trust lawyer can help ensure the trust is properly established, administered, and managed.
Here are a few of the benefits of having an experienced trust lawyer help you create a trust:
Your attorney will be an invaluable asset in helping you create a trust that suits your goals.
Call Safe Harbor Estate Law today to get started.
If you are considering setting up a trust in Minnesota, now is the time to act.
A trust is a potent tool that can provide you and your family with financial security and stability for years to come. By working with a qualified trust lawyer, you can ensure that your trust is tailored to your financial goals and objectives.
At Safe Harbor Estate Law, our team of experienced trust lawyers is dedicated to helping you create a trust that is both legally sound and tailored to your individual needs.
Don’t wait—contact us today to discuss your trust needs and get started on the path to financial security.
A beneficiary can be an individual, a charity, or an organization.
The grantor can change or revoke a revocable living trust at any time. An irrevocable trust cannot be changed or revoked without the trustee’s and the beneficiary’s consent.
Trusts may be subject to various taxes, depending on the type of trust and the assets held in the trust. It is important to consult with a qualified estate planning attorney to determine the tax implications of setting up a trust.
No. When you create a trust, you transfer ownership of the assets to the trust. The trust is the legal owner of the assets, and the trustee is responsible for managing them. However, you still benefit from continued use of the assets as normal (living in your home, driving your car, etc.)
Every person at Safe Harbor Estate and Elder Law is helpful and professional, while being friendly and putting you at ease. They know that this is not an every day event for people, and that clients may be uncomfortable. Everyone there does everything they can to make the process easy and smooth sailing. Margaret and her team genuinely want to protect
Safe Harbor Estate Law first worked with me in 2017 to complete my Living Will and Estate Plan. They were very thorough and everything went smoothly. What really impressed me about them was how they worked to iron out the issues when I was refinancing with Wells Fargo. Safe Harbor’s lawyers interceded on my behalf to clarify the issues with the title
Absolutely experts at what they do. Really solid organization their process is well thought out and well practiced. I had very similar work done several years ago by another firm and Safe Harbor Estate Law fixed their work and provided a much better result in both less time and money. Everybody at this firm completes their role very efficiently and
We were very pleased with the service from Safe Harbor. After years of procrastinating, we finally decided we needed to move forward and get our estate planning completed, which involved setting up a living trust. We were surprised at how easy it turned out to be. Safe Harbor tailored our will and trust documents to some unique need we had and all is now
I had put off getting a will done for 6 years, even after being diagnosed with Multiple Myeloma 4 years ago. Then I watched Safe Harbor’s webinar just to learn some will/estate planning information. That webinar answered so many questions for me and made me realize the big mistake I was making by not finalizing a will. So I scheduled a consultation immediately
Safe Harbor Estate Law was recommended by a lawyer friend. From the very beginning I was impressed with the respect and compassion with which we were treated. My goal was to come away with a plan that would protect our assets. I now have that plan which is very thorough, providing me with peace of mind. Working with the team at Safe Harbor Estate Law was a positive experience. All of the attorney I worked with were very professional. Michael Teeter, especially, is knowledgeable, explaining all the complexities. He was also patient and responsive in answering my follow-up questions, often more than once.
The process of creating our Trust
was incredibly smooth. From the initial zoom informational meeting to the meeting with the well versed attorney and the final signing, we felt confident and informed.
I hired Safe Harbor Estate Law to do my estate plan including a living trust, power of attorney, and health care directive. They made the process easy by explaining everything clearly, being organized, and answering my questions.
They listened to our wants and needs and drafted the documents we needed to feel secure in having the best estate plan possible for us and our family.
See what other Safe Harbor Estate Law clients are saying about their experience.
We care, and it shows. You’re not just a number to us. We listen, and we ask questions. We strive to improve our client’s lives every day.
Our firm goes above and beyond to make you feel comfortable throughout the process so you feel informed and confident every step of the way.
We help you leave a legacy that is smoother, less expensive, and less hassle for your loved ones with a plan that is uniquely tailored to your goals.
Our team is motivated to help you experience smooth sailing from start to finish so everything is done thoroughly and properly.
I attended a free seminar to learn about getting a Will. I learned so much more than I expected! I then hired Safe Harbor Estate Law to create a Will, POA and Trust. The process was very simple!
I highly recommend everyone to contact Safe Harbor to help you too!
