 Wills in Minnesota," was the topic for Coon Rapids Rotarian and local attorney, Letty Van Ert at the recent Rotary meeting. She explained the difference between a simple will and a contingent family trust. Among the differences, a will would involve public probate, while a trust is generally private. Letty said that by law, wills cannot be "oral;" they need to be written. She also said that a person's will should be stored in a fire-proof, water-proof safe. Another key point that Letty made was that beneficiary designations on investments and life insurance policies are important, because they override what's listed in a person's will. |
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