Will or Trust? - Lehner Law, LLC

For anyone with assets and belongings, children and/or pets, an estate plan is a great idea. Join us as we talk with Andy Lehner of Lehner Law Office, LLC about how to get started, the different options and what happens if we don't set up anything before we die. This episode was hosted and produced by Anne Morehouse, original music created and performed by Caileen Viehweg. Contact info for today's episode: Andy Lehner, owner and primary attorney Lehner Law Office, LLC 816 Dodd Road, Suite A West St. Paul, MN 55118 651.222.9829 lehnerlawoffice.com    Creating Your Estate Plan     :31 Andy Lehner Intro   1:15 Wills/estate plan basics   2:08 Estate plan definition   2:23 Beneficiary designations   2:45 When should people start planning an estate?   4:41 How long does it take to create an estate?   6:28 Health care directives as part of an estate plan   7:28 How and where to begin   8:35 How estate law attorneys help to establish goals & values   9:39 Case example 11:44 Why language matters for clarity in legal outcomes 13:00 Online will templates 15:29 Planning and administering by choosing your own adventure 17:27 If NO PLANS Minnesota (+ most states) has a law of intestacy 18:19 Difference between wills and trusts 18:40 Wills are a court driven process - probate 19:24 Living trust – a legal entity that does not involve the probate process by the court 20:30 A will or trust is dependent on an individual’s goals, values and situation 21:56 Emotions like grief and loss coupled with assets play into an outcome 22:45 What is included in an estate plan 24:23 Attorneys and established professional relationships (financial advisor, CPA, etc.) 25:10 Andy’s tip 25:30 The historical death rate among humans 25:40 The reality is we 100% will need to make a decision one way or the other 25:50 Why this is important 27:57 Credits