Estate & Trust Lawyer

Estate & Trust Attorney in Minnesota

During the loss of a loved one, the stress can be overwhelming. With the help of a trusted and experienced estates and trusts lawyer like Heidi Torvik, the administration of their estate can be manageable and straightforward. In some instances, a trust may need to be administered or a probate process initiated. On the other hand, inadequate planning or conflicts among family members can result in disputed estates. In such scenarios, seeking the assistance of a knowledgeable trusts and estates lawyer like Heidi Torvik can be crucial for guidance and representation. Having a skilled advocate by your side, one who has a depth of experience and legal acumen, can bring peace of mind. Heidi Torvik is equipped to offer her support in these trying times. 

Heidi Torvik can help you with the probate process, administration of a trust, guardianship concerns, conservatorships, as well as any litigation or disputes that arise from a trust or estate. 

What is Estate & Trust Law? 

Estates and trusts law is a complex area of law that deals with the creation, management, and distribution of a person's assets after their death. This area of the law is concerned with ensuring that the deceased individual's assets are distributed in accordance with their wishes, and that their beneficiaries are protected from any disputes or challenges that may arise. 

An estate is comprised of all of a person's assets and liabilities at the time of their death. The estate may include real property, personal property, bank accounts, investments, and other assets. In order to ensure that the estate is distributed in accordance with the deceased individual's wishes, the individual may create a will, which is a legal document that outlines how their assets will be distributed after their death. 

If someone dies without a will, their assets will be distributed according to the laws of their state of residence. In many cases, the distribution of assets in this manner may not align with the deceased person's wishes, and it can result in disputes among the deceased person's beneficiaries. 

Trusts are another tool that can be used to manage and distribute assets after a person's death. A trust is a legal relationship in which one person, the trustor, transfers assets to another person, the trustee, for the benefit of a third party, the beneficiary. Trusts can be created for a variety of purposes, including tax planning, asset protection, and distribution of assets after death. 

There are several types of trusts that can be used for estate planning purposes, including revocable trusts, irrevocable trusts, and testamentary trusts. Each type of trust has its own unique advantages and disadvantages, and it's important for individuals to understand the differences between these trusts when deciding which type of trust is right for their needs. 

Estate and Trust Administration with Heidi Torvik 

In addition to the creation of trusts and wills, estates and trusts law also involves the administration of an estate after a person's death. This process can be complex and time-consuming, and it is often managed by a personal representative or an executor who is appointed by the deceased person or appointed by the court. 

Whether you are a trustee, beneficiary, or have been appointed as the personal representative, Heidi Torvik is here to help make the administration process as easy as possible. Emotions during this time are likely high, and this process can feel overwhelming. Heidi Torvik can walk you through the process to make sure all aspects are taken care of correctly and quickly. 

Areas Where Heidi Torvik Can Help in the Estate and Trust Administration Process 

• The selection and appointing of a personal representative by the court 

• Gathering any probate assets and preparing for probate proceedings 

• Collecting and issuing payments for decedent’s debts and taxes 

• Valuation of any and all assets 

• Appointing a trustee for asset determination and distribution 

• Managing disputes or claims against the estate 

• Estate tax returns 

• Making sure all legal requirements are met 

This is a complicated, emotional process. Heidi Torvik is here to guide you every step along the way.