Page 12 - Ultimate Guide to Estate Planning

Imagine a scenario where your wealth, your
lifetime achievement, is providing the very
vehicle for harming your child or grandchild,

rather than enhancing their life. Is it possible
that the next generation would be in a better
position had you never attained any wealth?
These concerns are the cornerstone of our
value's based estate planning philosophy. In
reality, what we are really trying to do is

simulate what you would do, or not do, to help
the next generations, if you were alive and able
to distribute the money directly.

Chapter 2. What happens if I don’t do an
estate plan at all?

First, if you die without a will or a revocable
living trust, your assets will pass to your close
family members in a manner that the
Minnesota legislature has determined (see

below discussion). Second, your life insurance
proceeds will pass to the beneficiary you have
designated through your life insurance
company when establishing or modifying the
beneficiary designation of your life insurance

policy.

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