Libera Knapp Law: Winona Minnesota Attorneys
Libera Knapp Law: Winona Minnesota Attorneys

Estate Planning

Power of Attorney

A power of attorney is a written legal instrument which authorizes one person to act as another's agent or attorney.  A power of attorney gives a person's agent or attorney authority to make financial and other legal decisions for the principal (i.e., the person creating the power of attorney).  The principal can give his attorney limited or broad authority to make legal decisions for him, depending on the principal's needs and situation.

A power of attorney is often used effectively to help manage a person's finances should that person become sick or incapacitated.  A durable power of attorney can be drafted to enable the principal's attorney to make certain financial and other decisions for the principal in the event of his or her incapacity.  It is imperative however that the power of attorney is executed before a person becomes incapacitated. 

Everyone should have some type of power of attorney.  Jennifer can help draft the appropriate power of attorney for you based on your unique needs and situation.
Health Care Directive (Living Will)

A Health Care Directive is a written legal document that allows you to designate a representative to make medical decisions for you should you become incapacitated due to accident or illness.  For example, you can designate whether you would want to be kept on life support and who will make medical decisions for you if you are unable to do so. 

A Health Care Directive will ensure that your instructions set forth in the living will are carried out and give the people making the important decisions on your behalf the necessary instructions and authority to carry out your wishes.  Everyone should have a living will and Libera Knapp, P.A. can help guide you through the process.
Probate Administration
Probate is the court procedure used to prove the validity or invalidity of a Will.  The decedent's creditors (if any) are permitted to file claims against the estate and to recover payments based on those claims.  Once the administration fees, taxes and creditor's claims are paid, the rest of the estate may be distributed to the beneficiaries named in the Will.    
The Executor's Duties
The executor is the person named by the decedent in the Will to administer the decedent's estate. The executor's main duties include:
  • obtain a taxpayer identification number for the estate,
  • establish a bank account for the estate,
  • obtain letters of qualification,
  • handle decedent's mail,
  • collect and inventory all assets in the estate,
  • appraise each asset in the estate,
  • collect any payments or debts owed to the estate,
  • file the necessary local, state and federal tax returns,
  • distribute assets to the decedent's beneficiaries, and
  • obtain death certificates.
Libera Knapp Law Office can help guide an executor through the complex probate process to efficiently settle an estate's affairs.
WILLS, TRUSTS & ESTATE PLANNING SERVICES
Listed below is a brief summary of the types of estate planning services offered.  Jennifer will work with you to ensure that each service will be customized to meet your unique needs and situation.  
  • Wills: Simple Wills, Pour-Over Wills, Disclaimer Bypass Wills, Marital Bypass Wills, Generation Skipping Transfer Wills
  • Trusts: Revocable Living Trusts, Irrevocable Trusts, Irrevocable Life Insurance Trusts, Charitable Trusts, Special Needs Trusts (for disabled children), I.R.C Section 2503(c) Trust (for children), Grandchild's Trust, Pet Trusts, Crummey Trusts (for children & grandchildren)
  • Financial Powers of Attorney
  • Health Care Directive
  • Probate Administration