If you have an estate plan in place, you are ahead of over half the population in the United States. Taking the time to create that plan, however, is only the first step toward protecting everyone and everything that is important to you. You must also update your plan for it to be successful and work as intended. The Grand Forks estate planning attorneys at German Law | Wealth explain why keeping your beneficiary designations up to date is important. Where Are the Beneficiaries in My Estate … [Read more...] about Is It Time to Review Your Beneficiary Designations?

If you are new to the concept of estate planning, it can seem a bit intimidating 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 ensure that your plan accomplishes all of those goals and objectives. Your estate planning attorney can also help explain the process and make you feel less intimidated. To get the most out of your initial estate planning consultation, the Grand … [Read more...] about Getting the Most Out of Your Initial Estate Planning Consultation

The escapades of the rich and famous can be entertaining to watch from a distance; however, we can also learn valuable lessons from celebrity mistakes. With that in mind, the Grand Forks estate planning attorneys at German Law | Wealth offer some celebrity estate planning lessons you should not ignore. Lessons to Learn The following celebrities left behind estates that were riddled with legal and financial problems because of the estate planning mistakes they made: Contact a Grand … [Read more...] about Estate Planning Lessons You Should Not Ignore

Although workers could once depend on pensions, few employers today offer pension benefits to employees. Making things worse is the fact that Social Security retirement benefits have not kept up with the cost of living. Consequently, many workers contribute to an Individual Retirement Account (IRA) during their working years to ensure they have sufficient assets available when they retire. If your IRA is a “stretch IRA” it is crucial to understand how the recently enacted SECURE Act impacts that … [Read more...] about Is My Stretch IRA Still Alive After Passage of the SECURE Act?

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 Estate Planning Steps for the Beginner

A common misconception about estate planning is that you do not need an estate plan until you marry and/or become a parent. This simply is not the case. Every adult can benefit from having an estate plan in place, even single adults without children. The Grand Forks estate planning attorneys at German Law | Wealth explain why you do need an estate plan if you are single. An Estate Plan Does More Than You Realize One reason that so many people think an estate plan is not necessary for a … [Read more...] about Why Single Adults Need an Estate Plan

Your estate plan is your opportunity to put down in writing what you wish to happen to your estate assets after you are gone.  For most people, one of the strongest motivations for having an estate plan in place is to ensure that those wishes are honored. Unfortunately, the law does allow certain people to challenge the Last Will and Testament that you execute. Because a Will contest is only initiated after your death, you cannot defend your Will if one is filed. There are, however, some … [Read more...] about Tips to Help Prevent Estate Disputes