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
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
Having at least a basic estate plan in place is important for every adult. If you are the parent of a young child, however, the need for careful estate planning is heightened. Your minor child cannot manage his/her own inheritance. Consequently, you must choose someone to do so for your child. The Grand Forks estate planning attorneys at German Law Group help you choose the right person to guard your child’s inheritance. How Will You Pass Down Your Child’s Inheritance? When you contemplate … [Read more...] about Who Should Guard Your Child’s Inheritance?
The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset transfers when you put your estate plan in place. A lot of people think this is the long and short of it, but a proper estate plan will also address … [Read more...] about What Is a HIPAA Release?
To the average American it may seem as though family farms and ranches are all but a thing of the past; however, family owned and operated farming and ranching businesses have seen a comeback in recent years as consumer awareness has increased with regard to the practices of many industrial size ranching and farming operations. If you own a family farm or ranch, and you plan to pass the business down to the next generation, it is imperative that you plan accordingly. A Grand Forks estate … [Read more...] about Why Estate Planning Is Crucial for Farmers and Ranchers
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?
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
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
The divorce rate hovers around 50 percent for first-marriages in the U.S. with a significant percentage of those divorces resulting in a remarriage that creates a blended family. If you are part of a blended family, you know the hard work it takes to successfully blend two existing families into one harmonious new family. One thing you do not want to overlook when creating a blended family is the heightened importance of a having a comprehensive estate plan in place. The Grand Forks estate … [Read more...] about Why Estate Planning Is Crucial for a Blended Family
Making sure that your loved ones can access the assets you leave behind after your death should be an important estate planning goal. To achieve this goal, you must ensure that your estate is comprised of sufficient liquid assets. If you have not considered the need for liquidity within your estate plan before, you are not alone. It is a commonly overlooked aspect of estate planning. To help you avoid making this common mistake, a Grand Forks estate planning attorney at German Law Group explains … [Read more...] about Does My Estate Have Enough Liquidity?