Estate planning is a crucial aspect of financial management that often gets overlooked until it's too late. It involves making decisions about how your assets will be managed and distributed after your passing or during a period of incapacity. Comprehensive estate planning can do even more, including helping to ensure that your wishes are honored. While the topic may seem daunting, proper estate planning is essential to ensure that your wishes are fulfilled, and your loved ones are taken care of … [Read more...] about Comprehensive Estate Planning: A Guide to Securing Your Legacy and Honoring Your Wishes
With over six million Americans living with Alzheimer’s today, and that number expected to more than double by 2050, you likely know someone who has been directly impacted by Alzheimer’s disease. Although we know more about the disease today than we did a decade ago, we still do not completely understand what causes Alzheimer’s nor have we found a way to prevent or cure the disease. If you are interested in joining the fight to end Alzheimer’s disease, please join the team at German Law for our … [Read more...] about Join German Law for Our Annual Alzheimer’s Walk
Estate planning for farmers is vital to pass your farm to the next generation. Like many family businesses, your farm faces succession challenges. A proper plan ensures your farm passes as you wish. In North Dakota, your farm is more than business; it's a cherished legacy. Planning for its future, particularly for the next generation, is essential. Estate planning preserves this legacy amidst common challenges. Collaborating with a skilled North Dakota estate planning attorney ensures your … [Read more...] about Estate Planning for Farmers: Strategies for Succession
Most people know very little about the legal tools and strategies utilized in estate planning. The same people, however, typically understand the importance of having a comprehensive and well-drafted estate plan in place. If you are one of those people, that means that you may not recognize the numerous ways in which an estate planning attorney can help you. By the same token, you may not realize when you need the assistance of an estate planning attorney for legal issues that are to your estate … [Read more...] about Top 10 Reasons to Consult with an Estate Planning Attorney
You likely know what a Last Will and Testament is and have probably included one in your estate plan. Your Will allows you to decide how your estate assets are distributed after you are gone. Many people, however, want to pass down more than just assets. For that, you may wish to consider creating an Ethical Will. For those who are unfamiliar with the term, a Grand Forks estate planning attorney at German Law explains the concept of an Ethical Will. Are Ethical Wills New? No. Ethical Wills … [Read more...] about What Is an Ethical Will?
As the population of older Americans continues to grow at a historical rate, issues related to long-term care have become correspondingly important. To help seniors and their loved ones gain valuable information about long-term care in their states of residence, AARP conducts in-depth research and releases a Long-Term Services and Support (LTSS) Scorecard every three years. The recently released 2023 LTSS Scorecard ranks the State of Minnesota number one in the nation! A Grand Forks attorney at … [Read more...] about Minnesota Ranks #1 for Long-Term Care Services and Supports
If you have finally decided to create your estate plan, congratulations! A well thought out and properly drafted estate plan is an incredibly valuable gift you give to yourself and to your loved ones. Getting started on your plan can also be an intimidating prospect. To make the entire experience a little less intimidating, the Grand Forks attorneys at German Law discuss some common steps involved in building an estate plan. Estate Plan Steps for the Beginner It may (or may not) come as a … [Read more...] about Steps Involved in Building an Estate Plan
Although counting entirely on Social Security retirement benefits to fund your retirement is no longer an option, most people are still counting on those benefits as part of their retirement income. If you are one of them, you need to be aware that the age at which you start accepting benefits will directly affect the amount you receive. To help you plan for your retirement, the Grand Forks retirement planning attorneys at German Law explain how your age at retirement impacts your Social … [Read more...] about How Does My Age at Retirement Impact My Social Security Benefits?
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 explains how your estate plan can pass down your legacy. Traditional … [Read more...] about How Your Estate Plan Can Pass Down Your Legacy
Because workers can no longer rely on employer-sponsored pensions or on receiving sufficient Social Security retirement benefits, most workers start saving for retirement early on in life. One popular vehicle used to save for retirement is an Individual Retirement Account, or IRA. If you own an IRA, you will eventually need to start taking distributions from the account. To make sure you remain in compliance with the applicable laws, a Grand Forks attorney at German Law helps you understand the … [Read more...] about Understanding the IRA Minimum Distribution Rules