As we approach the end of the year, it’s a good time to think about updating your plan. This includes your entire plan, including your primary vehicle, such as a trust or will. Read on to learn more. … [Read more...] about Updating Your Plan: Your Trust or Will
If you are the parent of young children, you undoubtedly want to make sure your children are well cared for in the event that something happens to you. Doing so requires careful preparation and planning. To help you get started, a Grand Forks estate planning attorney at German Law Group explains how to protect your children in your estate plan. Why You Need More than Just a Last Will and Testament For most people, a Last Will and Testament serves as their initial estate planning … [Read more...] about How to Protect Your Children in Your Estate Plan
You probably created a Last Will and Testament as the foundation of your estate plan. At some point, you may also want to add a Living Will to that plan to ensure that your wishes will be honored regarding end of life healthcare decisions. Toward that end, the Grand Forks estate planning attorneys at German Law Group offer suggestions regarding when to create or update your Living Will. Advance Directive Basics An advance directive is a legal document that allow you to plan ahead and make … [Read more...] about Do I Need a Living Will?
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
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?
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?
The idea behind the concept of legacy planning is to take estate planning to the next level. Legacy planning allows you to incorporate your ideals, beliefs, values, and faith into your estate planning endeavors. Instead of simply leaving behind assets, legacy planning lets you leave behind much more of who you are and what made you into that person. To better explain, a Grand Forks legacy planning attorney at German Law Group explains how you can leave behind your legacy Traditional … [Read more...] about Leaving Behind Your Legacy
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
Do you have a loved one who has already been diagnosed with the early stages of dementia and you are concerned about what to expect in the future? Although we often use the terms “dementia” and “Alzheimer’s” interchangeably, they are not the same thing. A Grand Forks elder law attorney at German Law Group explains what you need to know about dementia and Alzheimer’s. Understanding Dementia Dementia is a broad term used to refer to a group of symptoms that may include impaired … [Read more...] about What You Need to Know about Dementia and Alzheimer’s
Unfortunately, even a well drafted and properly executed Will cannot prevent your heirs from contesting the Will. There are, however, some things you can do to decrease the likelihood of litigation during the probate of your estate. Including a no contest clause in your Will is one of those things. Your Last Will and Testament Executing a Will lets you make specific or general gifts of your estate assets to be distributed after your death. Whether you have amassed a substantial … [Read more...] about What Is a No Contest Clause?