As we age, we start to realize that our parents age as well. At some point, we even think we have accepted the reality that our parents will pass away someday. When that “someday” becomes “someday soon” because of a terminal diagnosis, it can cause emotional upheaval and practical confusion. Having a list of steps to take following a terminal diagnosis can be a huge benefit. To get you started, the Grand Forks elder law attorneys at German Law | Wealth have put together the following 10 things … [Read more...] about 10 Things to Do When an Elderly Parent Gets a Terminal Diagnosis
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Updating Your Life Insurance
Life insurance plays a significant role in many estate plans. You may have purchased life insurance when you were younger, and then not revisited the issue for years. At this point, you may need to update your life insurance. With that in mind, the Grand Forks estate planning attorneys at German Law | Wealth explain what is involved in updating your life insurance. Do You Have the Right Type of Life Insurance? There are several types of life insurance policies that all offer advantages and … [Read more...] about Updating Your Life Insurance
What’s Estate Planning Got to do with Interest Rates – Part II
As interest rates continue to climb, Estate Planning practitioners look to different planning techniques to take advantage of rising rates. Two common estate planning techniques work well in higher-interest rate environments. Read on to learn more. … [Read more...] about What’s Estate Planning Got to do with Interest Rates – Part II
What’s Estate Planning Got to do with Interest Rates – Part I
Interest rates were at historic lows for many years. Those rates have begun to rise in recent months and may continue to do so. Practitioners need to monitor interest rates in order to advise clients regarding the most effective Estate Planning strategies in any environment. Read on to learn more. … [Read more...] about What’s Estate Planning Got to do with Interest Rates – Part I
North Dakota Senior Medicaid Eligibility
Throughout the course of your working career, you may have been fortunate enough to have been covered by employer-sponsored health insurance. As such, you may never have needed to qualify for Medicaid to help cover healthcare-related expenses. As a senior, however, you may find yourself turning to Medicaid for help covering the high cost of long-term care for yourself or a spouse. Knowing the eligibility guidelines ahead of time is crucial because you may need to incorporate Medicaid planning … [Read more...] about North Dakota Senior Medicaid Eligibility
How Can Succession Planning Help Protect Your Farm?
Estate planning takes on a heightened importance for anyone who owns a family business; however, if that business is a family farm you face several unique concerns that other small businesses may not need to consider. To make sure your farm is safe, the Grand Forks estate planning attorneys at German Law | Wealth discuss how succession planning can help protect your farm. Estate Planning Is Different for a Family Farmer Although a family farm is a business, just like any other business, … [Read more...] about How Can Succession Planning Help Protect Your Farm?
Estate Administration 101: How to Pay Estate Taxes
If you are serving as the Executor of an estate, you have numerous duties and responsibilities. Among those are determining if the estate owes federal gift and estate taxes and if so, making sure the taxes are paid correctly and on time. To help you avoid making a mistake, the Grand Forks probate attorneys at German Law | Wealth discuss calculating and paying federal gift and estate taxes. Estate Administration Basics Probate is the name given to the legal process involved in … [Read more...] about Estate Administration 101: How to Pay Estate Taxes
Common Reasons to Seek the Assistance of an Estate Planning Lawyer
Like most people, you are probably aware of the need to have an estate plan in place that dictates how your estate assets are to be distributed in the event of your death. Hopefully, you also recognize the need to have an experienced estate planning attorney assist you in the creation of that plan. That may not be the only time you need an estate planning attorney though. On the contrary, a Grand Forks estate planning attorney at German Law | Wealth offers some common reasons to seek the … [Read more...] about Common Reasons to Seek the Assistance of an Estate Planning Lawyer
Understanding Undue Influence – Part II
Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions for the slighted beneficiaries. These questions usually revolve around methods to have the plan overturned. Most states give clients tools to protect their carefully crafted plans, even after their death. Read on to learn more. … [Read more...] about Understanding Undue Influence – Part II
Understanding Undue Influence – Part I
Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions. Most of the time, clients have consulted with a competent attorney regarding their reasons for structuring the plan the way that they have. Sometimes, other factors are at play and the plan doesn’t represent the testator’s true wishes, but rather, another individual’s testamentary desire. That’s undue influence and there are ways to guard against it. Read on to learn more. … [Read more...] about Understanding Undue Influence – Part I
