Having a well thought out estate plan in place is one of the most beneficial gifts you can give to yourself and to your loved ones. Whether you are creating your initial plan or updating your estate plan, you obviously want to avoid making mistakes. To help you, a Grand Forks estate planning attorney at German Law Group discusses common estate planning mistakes. Procrastinating -- you do not need to reach a certain point in your life, or achieve a certain material success, before the need for … [Read more...] about Common Estate Planning Mistakes
If you create a comprehensive estate plan, that plan will undoubtedly reflect your highly personal wishes as well as include sensitive details about your debts and assets. Understandably, you may not want those wishes and details to be divulged to the general public, even after you are gone. To help you, a Fargo estate planning attorney at German Law Group explains how you can keep the details of your estate plan private. Probate and Your Last Will and Testament A Last Will and Testament … [Read more...] about How Can I Keep the Details of My Estate Plan Private?
One of the most common tools used when creating a comprehensive estate plan is a trust agreement. Most people are familiar with the concept of a trust; however, the details can be a bit murky. If you are considering the use of a trust in your estate plan, deciding on which type of trust is best for your needs and goals is the first step toward incorporating a trust into your plan. Testamentary Trusts A testamentary trust is a trust that does not activate until the death of the Settlor … [Read more...] about Common Trusts Explained
If you are one of the many people who choose to include a trust as part of your overall estate plan, one of the most important decisions you will make when creating that trust is your choice of Trustee. In fact, your choice of Trustee could be the key factor in determining whether your trust succeeds or fails. To help you better understand the importance of choosing the right Trustee, Trust Basics A trust is a legal relationship where property is held by one party for the benefit of … [Read more...] about Is Your Trustee Causing Your Trust to Fail?
If you are new to the concept of estate planning, it can seem a bit intimidating the first time around given all the various goals and objectives that are frequently rolled into an estate plan. The good news is that working with an experienced estate planning attorney will go a long way toward ensuring that your plan does accomplish all of those goals and objectives. Your estate planning attorney can also help explain the process and make you feel less intimidated. Before you even get to your … [Read more...] about 5 Things to Consider When Creating Your Estate Plan
One of the first practical steps that must be taken after someone dies is to determine if the decedent executed a Last Will and Testament. If the Will is located, it should indicate who the decedent appointed to be the Executor of the estate. If that person is you, it is completely understandable if you have mixed emotions about being about. Ultimately, do you have to accept the appointment though? The Grand Forks estate planning attorneys at German Law Group explain what to do if you do … [Read more...] about Can I Turn Down the Job of Executor?
If you are new to the concept of estate planning, it can seem a bit intimidating the first time around given all the various goals and objectives that are frequently rolled into an estate plan. The good news is that working with an experienced estate planning attorney will go a long way toward ensuring that your plan does accomplish all of those goals and objectives. Your estate planning attorney can also help explain the process and make you feel less intimidated. Before you even get to your … [Read more...] about 4 Things to Consider When Creating Your Estate Plan
There is an exceptionally good chance you will need to rely on Medicaid at some point. If you do find yourself applying for Medicaid without having prepared in advance, your assets could be at risk. To prevent that from happening the Grand Forks Medicaid planning attorneys at German Law Group explain five things you need to know before applying for Medicaid. Why Would I Need to Qualify for Medicaid? Experts tell us that if you are close to retirement age right now (age 65), you stand close … [Read more...] about What You Need to Know If You Are Applying for Medicaid
By the year 2050, experts predict that for the first time in history, the older population (age 65 and older) will outnumber their younger counterparts (age 21 and younger). The growth in the senior population has caused an increased interest in elder care issues and concerns. While seniors face many of the same legal problems that younger generations face, they also have some unique legal issues. The Grand Forks elder law attorneys at German Law Group help you to recognize when you could … [Read more...] about Elder Law Questions and Answers
A Power of Attorney is among the familiar of all estate planning documents. When all goes as planned, a Power of Attorney can be used under a wide range of circumstances and can be used to further numerous estate planning goals. What happens though if a party refuses to honor a Power of Attorney? The Grand Forks estate planning attorneys at German Law Group explain your rights as an Agent under a Power of Attorney and what happens if someone challenges that authority. What Is a Power of … [Read more...] about Can a Party Refuse to Honor a Power of Attorney?