Fargo Legal Issues Blog

Considerations for real estate purchases involving older property

On behalf of Kennelly Business Law posted in real estate on Monday, December 2, 2019.

Making the choice to buy a home in North Dakota is a major legal and financial decision. The implications of a real estate purchase can be long reaching, affecting a person for years to come. This is one of the primary reasons it is beneficial to be cautious and careful when taking this step, especially if it is an older property.

Older homes can come with more risk if the buyer is not careful. The person looking to move in will need to check on various things and ensure that there are no unseen issues that could be costly to repair down the road. One of the main things to look for is the presence of lead paint. A lead test is a simple way to find out if there are toxic substances in the home that need to be removed.

How family law matters can impact a North Dakota business

On behalf of Kennelly Business Law posted in family law on Wednesday, November 20, 2019.

When a couple makes the choice to move forward with a divorce, both parties will experience changes in their financial lives. They may have to divide property and live with reduced income, but divorce can particularly difficult for people who own their own businesses. A North Dakota business owner going through divorce will not want to underestimate the potential impact family law choices can have on his or her company.

A family-owned or closely-held business can quickly become a source of contention in a divorce. A business owner may find that his or her share of a company could be considered marital property, and therefore eligible for division. Whoever the higher-earning spouse is on paper may have to pay spousal support, even if he or she puts a lot of income and personal profit back into a small business.

You have your estate planning documents. Now what?

On behalf of Kennelly Business Law on Friday, November 15, 2019.

More than likely, it took you some time to create an estate plan with which you, and perhaps your family, are satisfied. You made the best choices you could when it came to distribution of your assets and choosing the people who would represent your interests.

Now that you no longer have to contemplate what will happen if you become incapacitated or die, you can breathe a sigh of relief. The question you may have now is what do you do with your documents?

Family law choices and their impact on retirement plans

On behalf of Kennelly Business Law posted in family law on Monday, November 4, 2019.

Divorce will bring significant and immediate financial changes to a person's life. No matter how wealthy a couple is or what kinds of assets someone in North Dakota has, it is likely that the end of a marriage will require adjustments to lifestyle and expectations for the future. Family law choices may require changes to retirement plans, especially if one or both parties are close to the end of their careers.

When a couple is younger, they have more time to recover financially from a divorce. The closer a person is to retirement age, the more critical it is for him or her to secure the right terms to financial settlement. Any funds or savings accumulated over the course of the marriage are eligible for distribution in a divorce, including long-term retirement accounts. This can virtually split in half what a person anticipates having for his or her golden years.

Misconceptions could lead to estate planning and probate problems

On behalf of Kennelly Business Law posted in estate planning and probate on Wednesday, October 23, 2019.

When a person thinks about planning for the future with an estate plan, he or she probably thinks that it mainly involves deciding what will happen to personal property after death. While this is a major part of any good estate plan, it is not the only thing a North Dakota reader may need to protect his or her interests. Misconceptions can lead to estate planning and probate problems.

One of the biggest misunderstandings that people have regarding an estate plan is that they don't need one because they are not wealthy enough or old enough to require this type of legal protection. In reality, this is a practical and beneficial step for virtually every adult. People may also think that estate planning is only thinking about and planning for death, but they may not realize that their plan could allow them to decide what type of medical care they may want and make other decisions that may apply in case of a medical emergency.

Signs that family law trouble could be ahead

On behalf of Kennelly Business Law posted in family law on Monday, October 7, 2019.

When a person is not aware of certain warning signs or aware of what his or her spouse may be thinking, a divorce can be surprising. There are certain types of behaviors and circumstances that may indicate the possibility that family law trouble could be coming. When a North Dakota reader is aware of these things, he or she can take steps to better prepare for what is ahead.

One sign that a divorce may be coming is that the family is no longer eating meals together or spending time together. Spouses who are only together for the sake of the kids may also be more prone to split at some point in the future. Over time, a couple that is no longer functioning as a team or unit may find that they have grown apart and are living separate lives.

Estate planning and probate for people with serious illnesses

On behalf of Kennelly Business Law posted in estate planning and probate on Tuesday, September 24, 2019.

It's not easy to think about end of life decisions and plan for care that a person may need if he or she is ever diagnosed with a serious illness. These are not pleasant things to think about, but in reality, it is helpful to consider the benefits of these kinds of steps ahead of time. By giving careful consideration to estate planning and probate matters, a person can have peace of mind for his or her own future and provide security for loved ones as well.

Everyone will pass away at some point, and each person has the right to decide what type of health care he or she may want near the end of one's life. Without having specific plans in place, it could result in complications for loved ones who may be left to make difficult decisions on behalf of a loved one who cannot speak for him or herself. By including certain types of documents in estate plans, a North Dakota resident can specify treatment plans and decline other types of care.

Can you change the name of your company down the road?

On behalf of Kennelly Business Law on Thursday, September 19, 2019.

When you first started your North Dakota business, you likely labored over every decision that you needed to make. You decided the type of business structure that would work best for your company's needs, and you decided on a business name that would allow potential consumers to immediately understand the purpose of your company.

Over the years, however, you may have expanded your company's products or services, and feel as if the company name no longer suits the business. You may wonder whether you could change the name, and fortunately, the answer is yes.

Family law decisions that impact older couples

On behalf of Kennelly Business Law posted in family law on Monday, September 9, 2019.

When a marriage is over, a North Dakota couple will have to address the financial fallout that comes with that choice. Divorce will inevitably bring a significant amount of changes for both parties, but it is especially critical for an older couple to consider the implications of each choice they make regarding their property division settlement. These family law decisions can impact them for years to come, perhaps even affecting their retirement.

Gray divorce is a term used to describe the dissolution of marriage between two individuals age 50 and up. The numbers of this type of divorce are on the rise, and that may be because people are living longer than ever. For many people over the age of 50, there are plenty of years left to have a fresh start. However, they have fewer years left until retirement. Pursuing a fair financial order is crucial.

5 areas to address in a parenting plan

On behalf of Kennelly Business Law on Thursday, August 29, 2019.

When a North Dakota couple with children divorces, they face many difficult, emotional decisions. One of those is creating a parenting plan, or custody plan, for their children. A parenting plan is a roadmap to splitting child custody and often helps parents avoid conflicts down the road as families face decisions.