For some people, philanthropy is a way of life. If you are one of those people, you probably have several charities that are dear to your heart and to which to donate on a regular basis. Those charities may even have come to depend on your donations. What happens when you are gone? Can you use a trust to carry on your charitable gifting after your death? The Grand Forks trust attorneys at German Law Group offer some suggestions to help you continue your charitable gifting through the creation of … [Read more...] about How to Leave Gifts to Charities in Your Estate Plan
Social Security retirement benefits play a significant role in budgeting for retirement for many people. If you are one of those, you may be wondering at what age you should retire and start accepting your benefits. Because it does matter, the Grand Forks retirement planning attorneys at German Law Group explain how the age at which you begin accepting Social Security retirement benefits impacts your benefit amount. The Social Security Retirement System Throughout your working years you … [Read more...] about Should I Retire Early?
If you have yet to create an estate plan, you have probably had to listen to well-meaning friends and family tell you that you need to get busy creating your estate plan. For that advice to take root, however, you likely need motivation. Understanding why you need an estate plan may help convince you to get started on your plan. With that in mind, the Grand Forks estate planning attorneys at German Law Group offer three important reasons to have an estate plan: To ensure that you decide what … [Read more...] about Top 3 Reasons to Have an Estate Plan
As much as none of us want to admit it, the reality is that we all stand a good chance of needing long-term care at some point in our lives. If you fail to consider the possibility, you could face significant financial hurdles as a result should you end up in long-term care (LTC). Like many seniors, you may end up turning to Medicaid to help cover the high cost of LTC; however, qualifying for Medicaid might lead to Medicaid’s “spend-down” requirement if you failed to plan ahead. The Grand Forks … [Read more...] about Medicaid Spend-Down Explained
Probate is the legal process typically required after an individual’s death to settle and distribute the decedent’s estate. The probate process can be costly and complicated even without disputes; however, when a dispute turns into litigation, it can wreak havoc with the administration of the estate. The Grand Forks probate attorneys at German Law Group explain what to expect if you find yourself involved in probate litigation. Probate Basics Most people leave behind an estate when they … [Read more...] about What You Need to Know about Probate Litigation
Most people, at some point in their life, either create a Power of Attorney (POA) or act as an Agent under a POA created by someone else. Unfortunately, a Power of Attorney is also one of the most frequently abused legal documents. One reason for that is that all too often the person creating the POA does not truly understand the power and authority conveyed in the document. With that in mind, the Grand Forks estate planning attorneys at German Law Group want to make sure that you understand … [Read more...] about Understanding the Power in a Power of Attorney
While a Last Will and Testament remains the most commonly used estate planning tool, a trust is not far behind in terms of popularity. Trusts are frequently included in a comprehensive estate plan for a wide variety of reasons, including the fact that a trust can help your estate avoid probate. Can a trust help avoid challenges to your estate though? The Grand Forks trust attorneys at German Law Group discuss the possibility of contesting a trust. Trust Basics A trust is a separate legal … [Read more...] about Can a Trust Be Contested?
The importance of comprehensive estate planning is significantly heightened for the parents of a child with special needs. Like all parents, you undoubtedly want to protect and provide for your child to the best of your ability. Incorporating a special needs planning component in your estate plan is one excellent way to do just that. Within your special needs plan you may choose to include a Special Needs Trust. As the Grand Forks special needs planning attorneys at German Law Group explain, … [Read more...] about Can a Special Needs Trust Be Used to Purchase Anything?
Senators Sanders and Whitehouse have introduced legislation in the Senate which would significantly alter the Estate Planning landscape. It would dramatically change the tools we use to plan for our clients. Time is of the essence. Read on to learn more. … [Read more...] about Tax Proposals Could Alter Estate Planning Landscape
Clients often come to an Estate Planning attorney with specific ideas in their minds. The attorney’s role is to counsel them regarding their plan, not just to draw up documents to accomplish it. Read on to learn more. … [Read more...] about The Role of the Estate Planning Attorney