Why You Can't Always Trust Your Trust
Courses - Adult Enrichment / Money -
Adult Enrichment 2020-2021
The trust is a very popular component and tool used in Estate Planning. However, there are a variety of vastly different Trust options to be used and the question arises: “Am I using the right Trust for my needs and goals?” Often used Trusts include: Living Trusts, Testamentary Trusts and Irrevocable Trusts, each serves a different purpose, each has a different result. One common problem is the over-utilization of the Living Trust for goals or problems that it does not resolve. For example, “Does my Living Trust protect my assets against Medicaid and the nursing home?” The answer is probably not. The Irrevocable Trust and the Testamentary Trust each have their strengths and weaknesses as well. We will clearly define the strengths and weaknesses of these different types of Trusts and when to use them. Explore your goals and wishes to see where they fall in the realm of Trusts. This class encourages questions and we hope to provide answers that will set your mind at ease or assist you in the decision making in this area.
Steve is the founding member of Ledin Law PLLC, a small business and estate planning focused law firm based in the East metro area. Steve cut his legal teeth with his start in the legal profession at Moore, Costello & Hart PLLP, a Twin Cities based law firm that laid claim as the oldest law firm in the State of Minnesota, founded in 1855. In 2007, Steve and his fellow law firm partner Jim Blaney formed Blaney & Ledin to enhance their specialization and representation of the legal interests of their small business and estate planning clients. In 2017 after over 20 years of successful legal practice, Steve founded Ledin Law PLLC in furtherance of his dedication to the legal work of small business and estate planning. Steve practices extensively in the areas of estate planning and corporate transactional law and provides legal advice to startup and developing companies, as well as mature small to medium sized companies. His services in estate planning cover a wide spectrum of clients varying in estate size, value, and complexity from young couples starting a life together, up to large well-established estates of significant value and complexity. In the transactional business area, he provides services on a wide variety of legal matters including business formation; mergers and acquisitions; buy-sell agreements; contract review and negotiation, real estate purchasing/leasing; and business succession. He works with dozens families and active businesses of a wide variety on a daily and weekly basis. Steve attended law school at William Mitchell College of Law and graduated with a Juris Doctor (Magna Cum Laude), after graduating from Saint Cloud State University and Macalester College with a Bachelor of Arts-Political Science (Summa Cum Laude). Today, Steve is the owner/proprietor of a number of active businesses and is currently serving his fifth consecutive term as the President and Board Chair of the East Side Area Business Association, as well as being active in numerous other business trade groups, associations and nonprofits.