Handling someone's estate as an executor means finalizing all of their personal matters. You need to collect, secure and inventory their property. You will have to file paperwork with the probate courts. You have to pay off their debts, and then you will be able to...
Estate Planning And Probate
What documents should you include in your estate plan?
An estate plan isn't just a boilerplate document that you've downloaded from the internet for yourself. Instead, it is a collection of documents and instructions that protect you if you having a medical emergency and that protect your wishes if you die. You will need...
Thinking about estate planning? Here are crucial questions you need to ask yourself
Estate planning may not be one of the most exciting things to think about, but it is one of the most important decisions you can ever make for your future, estate, and loved ones. A valid estate plan ensures that your wishes are followed when you are no longer...
The benefits and perils of a spendthrift trust
As you weigh your options for estate planning, one topic that frequently arises during these discussions is funding a trust. There are all sorts of trusts set up for various purposes, but today we will focus on one type of trust. A spendthrift trust can be a useful...
Why family vacations and other holidays may be a good time to discuss estate planning
Families, and especially those of means, often find themselves embroiled in heated disputes over contested wills and trusts when a loved one passes. Many of these are completely preventable. Communication is often the reason that conflicts emerge. You can end that...
When did you last update your estate plan? It may be time
An out-of-date estate plan could give money to the wrong people. For instance, if you fail to update your estate plan after divorce, your ex could inherit assets. An out-of-date plan could omit people you care about and lead to family disagreements. For example, you...
Why business owners need a succession plan
When you are busy running your own business, you always have a lot of tasks to take care of. While you often look toward the future, to ensure your business can succeed in the long run, one task you may overlook is creating a succession plan for your business. Even if...
What does estate planning for farmers involve?
Anyone with any assets and heirs may benefit from estate planning. Extensive planning might be necessary when attempting to make things easier for heirs who will inherit a complex and challenging estate. This may be especially true for farmers since passing a farm's...
Should you have an estate plan?
While the terms "will" and "estate plan" are often used interchangeably in North Dakota, they actually mean two different things. If you don't have any children and only a few assets to your name, you might only need a will. But if you have children, a large number of...
Estate planning emotional hurdles to consider
Many individuals in North Dakota and across the U.S. feel a great deal of discomfort when thinking about estate planning. While no one wants to think about death, failing to properly plan an estate can lead to long-lasting difficulties for surviving family members....
