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A revocable living trust is a legal arrangement in which you transfer ownership of your assets to the trust during your lifetime while retaining full control to manage, amend, or revoke it at any time. When you work with Kennedy & Ruhsam Law Offices, P.A., you’re not just getting a document. You’re working with a team in Eagan, Minnesota whose attorneys handle trust administration, trust litigation, and probate matters within the same practice, and whose founding attorney spent years at the IRS and the Minnesota Department of Revenue before establishing this firm in 1999.
That depth matters when you’re building a plan meant to help your family for decades.
If you’re ready to discuss whether a revocable trust fits your situation, call our Eagan office at 651-262-2080 or reach out online to schedule a consultation.
One of the primary reasons Eagan residents establish a revocable living trust is to keep their estate out of the Minnesota probate process. Property held in a properly funded trust is classified as a non-probate asset and passes directly to beneficiaries without court involvement. Minnesota’s probate threshold is $75,000, meaning even a modest estate can trigger a full proceeding in Dakota County District Court if assets remain titled in the individual’s name alone.
The word “funded” is critical here. A trust that exists on paper but hasn’t been funded, meaning your assets haven’t been retitled into the trust’s name or the trust named as beneficiary of accounts and policies, doesn’t avoid probate. Assets that stay in your individual name may still require a court proceeding before reaching your beneficiaries. We typically draft a pour-over will alongside your trust to capture any assets not yet transferred at death, though those assets may still pass through probate before reaching the trust. Proper funding is where many DIY trusts fall short, and it’s a step we work through with you directly.
Probate avoidance is often the starting point, but a revocable trust can accomplish considerably more depending on your family’s circumstances.
Incapacity Planning
If you become incapacitated, your named successor trustee can step in and manage trust assets immediately, without a court-ordered conservatorship for your financial affairs. Decisions stay in the hands of someone you chose, not a judge.
Privacy
A will becomes a public record when filed with the probate court. A revocable trust does not. Its terms, asset values, and beneficiaries remain private.
Controlled Distributions
Trust provisions can hold a child’s inheritance until a specific age, restrict distributions to purposes like education or health care, or include a spendthrift clause that shields a beneficiary’s inheritance from their creditors.
Blended Families
In second-marriage situations, a revocable trust can provide income to a surviving spouse during their lifetime while directing the remainder to children from a prior marriage at the surviving spouse’s death.
Out-of-State Property
If you own real property in more than one state, a revocable trust may eliminate the need for separate ancillary probate proceedings in each state where that property is held.
Founding attorney Mike Kennedy’s background spans IRS employment, work with the Minnesota Department of Revenue, and managing the estate planning and compliance group at a Minneapolis public accounting firm before founding Kennedy & Ruhsam Law Offices, P.A. in 1999. That tax and regulatory background directly informs how we approach trust structures, particularly where estate and gift tax planning or trust compliance considerations are part of the picture.
Attorney Scott Ruhsam has been selected to the Super Lawyers list in both Tax and Estate and Trust Litigation and Estate Planning and Probate. Between our attorneys, the firm carries over 65 years of combined legal experience serving clients in Eagan, Cannon Falls, and throughout Minnesota.
Our attorneys can serve in a fiduciary role as professional trustee or personal representative when needed. We handle trust administration and trust litigation in-house, which means the team that drafts and funds your trust is the same team that can administer it or defend it if a dispute arises. We’re also well acquainted with Dakota County District Court procedures, where probate and trust matters for Eagan residents are filed and heard. That combination of drafting, administration, litigation, and local court familiarity is a differentiator for our firm.
Contact Kennedy & Ruhsam Law Offices, P.A. online or call us at 651-262-2080 to schedule your consultation.
Our team has 65+ years of combined experience.
Choosing a lawyer shouldn’t be taken lightly. Committed to serving your specific situation, Kennedy & Ruhsam Law is committed to you.
We understand legalities can be overwhelming, but we’re here to provide prompt and skillful services based on communication.
The attorneys offer full-service representation on a wide range of legal issues.
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