Having a comprehensive estate plan in place is one of the best things you can do for your loved ones and for yourself. The average plan incorporates a variety of estate planning strategies and documents. Once those documents are prepared, they need to be kept somewhere safe. A Grand Forks estate planning attorney at German Law Group discusses what to do with your estate planning documents once you have them in place. Common Estate Planning Documents Just as every person is unique, every … [Read more...] about Where Should I Keep My Estate Planning Documents?
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?
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
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
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?
Not all that long ago, an unmarried man and woman living together were considered to be living in sin and were often ostracized by society. Today, however, more and more couples are choosing to cohabitate prior to, or in lieu of, marriage. If you are one of those unmarried couples, a Fargo estate planning attorney at German Law Group explains how to protect your partner in your estate plan. Is Marriage No Longer Desirable? In one of those ironic twists of fate, people who are old enough to … [Read more...] about How to Protect Your Partner
You want your estate planning to be handled by an attorney who stays current on the law. The American Academy of Estate Planning Attorneys is holding its semi-annual conference providing education and learning for its Members. Read on to learn more. … [Read more...] about Academy’s Fall Summit Virtually Perfect
Chadwick Boseman played many heroic American roles and the superhero role of the Black Panther. His death at age 43 demonstrated how it’s important to have at least a basic estate plan in place even if you’re young. Read on to learn more. … [Read more...] about Chadwick Boseman Demonstrates the Importance of Planning
Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. Read on to learn more … [Read more...] about The Basics: Financial Power of Attorney
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