You may assume that trusts are only of value to people who are extremely wealthy. While it is true that wealthy people do use certain types of trusts, there is a trust "for the rest of us" called a revocable living trust. Topics covered in this whitepaper include: Efficient Control of Assets Probate Avoidance Incapacity Planning Click here to read the whole article or download the PDF. … [Read more...]
What Is A Living Will?
What Is a Living Will? from Raymond German A well constructed estate plan will include advance directives for health care. These documents are used to state your health care preferences in the event of your incapacitation. Learn more about living wills in North Dakota and Minnesota in this presentation. … [Read more...]
Will and Living Will Registries in North Dakota
Anyone in North Dakota who creates a will or an advance medical directive, such as a living will, should take steps to ensure that your important documents are safely stored. If someone needs to access your medical directives, or will need to do so at a later date, you should also make plans to ensure that those people will know where to find them. However, you don’t need to register these documents with any state or private agency. Here’s why. Will Registration A will is simply a legal … [Read more...]
3 Common Elder Law Situations
Elder law is an area of the law that most people don’t think about until they need it. Elder law and estate planning are two topics that are closely related to one another, but not always something that most people prepare for adequately. Here are three common situations where people in North Dakota might want to contact an elder law attorney. You are diagnosed with Alzheimer’s disease. Our ability to make choices for ourselves is often something we take for granted. If you’re ever … [Read more...]
Selecting the Right Agent
When you create an advance directive and name someone to act as your health care agent, the question of who to select for this important position inevitably arises. While many people appoint their spouses or a close family member, you may want to take a little more time to think about the issue instead of immediately naming the person closest to you. There are several factors you will need to measure when choosing the right person for the job. Objective Your health care agent, sometimes … [Read more...]
I Just Moved…Do I Need To Change My Estate Plan?
If you've already created an estate plan and have moved, or are considering moving, you may want to take the time to review your plan if your move brings you to a new state. If you're simply moving to a new location in the same state, you probably don't need to make any changes. However, moving to a new state should prompt you to at least review your plan, and probably call an estate planning lawyer. Issue 1: Your Will. Each state will recognize the validity of the Will created in a … [Read more...]
2 Estate Planning Topics in The Descendants
The 2011 Academy Award winning film, The Descendants, tells the story of Max King, played by George Clooney, and his family after his wife is left in a coma following a boating accident. Though the relationship between Mr. King, his daughters, his wife, and his family takes a the bulk of the movie's plot, there are several estate planning issues in the film that may be of interest to you if you are considering beginning your own planning efforts. Inherited wealth problems. As the descendants … [Read more...]
Differences between a Living Trust and a Living Will
If you’re new to estate planning, you may have some confusion about what the difference between a living trust and what a living will is. These estate planning document are important; and, they each serve their own purpose. Take a look at the information below to learn more. If you have questions about these documents, or if you’d like to create a living trust or a living will, meet with a qualified estate planning attorney. What is a living trust? A living trust is a legal document … [Read more...]
