As an adult child, one of the most difficult decisions you will ever have to face is the decision to put a parent in a nursing home. If, however, your parent needs the type or level of care that you are unable to provide, choosing to find a nursing home for your parent is in his/her best interest. Once you have made the decision that a nursing home is the best option, the equally difficult task of finding the right facility is the next hurdle to get past. To make sure you find the right nursing … [Read more...] about 5 Steps for Finding the Right Long-Term Care Facility
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Why Is Estate Liquidity Important?
Creating a plan for the distribution of your estate assets after your death is undoubtedly a primary estate planning goal; however, it will not likely be your only goal. Making sure that your loved ones can access those assets when they need them after your death should be an equally important estate planning goal. To achieve this goal, you must ensure that your estate is comprised of sufficient liquid assets. To help … [Read more...] about Why Is Estate Liquidity Important?
Can I Do Anything to Prevent My Children from Fighting Over My Estate?
If you have adult children, you undoubtedly want to do all you can to prevent disputes between them after you are gone. While there is no way to accomplish that goal with 100 percent certainty, the Grand Forks estate planning attorneys at German Law Group offer the following tips to help prevent estate disputes between siblings. What Happens When There Is a Dispute Over Your Estate? No matter how old you are, nor how much warning and preparation an … [Read more...] about Can I Do Anything to Prevent My Children from Fighting Over My Estate?
3 Reasons a Will Is Necessary
People frequently make the mistake of assuming that estate planning is only necessary for those with substantial assets. While an elaborate and complex estate plan may not be needed by all, a basic plan that starts with a Last Will and Testament is needed by everyone. Failing to execute at least a Last Will and Testament can have a number of unintended negative consequences. A Grand Forks estate planning attorney at German Law Group offers three reasons why a Will is necessary. Last Will and … [Read more...] about 3 Reasons a Will Is Necessary
What Is a Secret Trust?
The odds are good that you will decide to incorporate at least one trust into your estate plan given how popular trusts are. If you do include a trust, you may decide to make your trust a secret or semi-secret trust. A Fargo trust attorney at German Law Group explains what a secret trust is and why you might want one. Understanding Your Last Will and Testament Most people are familiar with the concept of a Will. At its most basic, a Will is a legal document that allows the Testator (person … [Read more...] about What Is a Secret Trust?
Estate Planning for Parents
Although estate planning is important for everyone, for the parents of minor children estate planning takes on a heightened importance. Knowing that your children will be protected if something happens to you and ensuring that they will be well provided for make estate planning a necessity, not an option, for parents with minor children. If you are new to the concept of estate planning, as many parents are, you may not know where to begin or what need to be included in your estate plan. … [Read more...] about Estate Planning for Parents
Staying Current is Especially Important in the Pandemic
A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. During the COVID-19 pandemic, it’s important to have them up-to-date. Read on to learn more. … [Read more...] about Staying Current is Especially Important in the Pandemic
Fair Isn’t Always Equal and Vice Versa
When you’re deciding how your assets should be divided at death, sometimes dividing them equally is the appropriate choice. But, sometimes it’s not. Fair isn’t always equal or vice versa. Read on to learn more, including how to avoid a challenge if you choose an unequal division among your children. … [Read more...] about Fair Isn’t Always Equal and Vice Versa
5 Post-Divorce Estate Planning Updates
If you have made the difficult decision to end your marriage, the legal process of divorce that follows will undoubtedly be time-consuming and emotionally exhausting. As such, it can be very easy to overlook the numerous practical steps that should be taken after a divorce. For example, the Grand Forks estate planning attorney at German Law Group point out five estate planning documents that usually need to be updated following a divorce. The Importance of Updating Your Plan … [Read more...] about 5 Post-Divorce Estate Planning Updates
What’s an “Atom Bomb” or “Contingent Remainder” Beneficiary?
When you’re deciding to whom to leave assets, most people choose their children or other descendants. However, you also need to decide on the “contingent remainder” beneficiary. In other words, who should get your assets if all your other beneficiaries are gone. Read on to learn more about this often-confusing concept. … [Read more...] about What’s an “Atom Bomb” or “Contingent Remainder” Beneficiary?
