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....
Estate Planning And Probate
Preparing children to inherit
High net worth people in North Dakota need to think about how to prepare their children to inherit someday. There are essentially three steps to this process. The first is to calculate how much they will be getting. The second is to think about how money will affect...
Auditing and estate planning: what to keep in mind
Nobody wants to think about a day when they aren't able to manage their own estate. This doesn't necessarily mean death but also other instances such as being disabled due to an accident or mental issues. This is why it is so important to begin auditing your estate...
The importance of making a will
If you're concerned about who will raise your children if you were to die unexpectedly, it is a good idea to create a will. The same is true if you want to retain control over who inherits your North Dakota business or other assets that were accumulated during your...
Legal fees during a will challenge
Contesting a North Dakota will can cost a significant amount of money. Those who are participating in the probate process are likely wondering who pays the legal costs when a will is challenged. The answer is that it depends who is challenging the will and what the...
Estate planning for farmers in North Dakota
Estate planning for a farm for generations to come is more than preserving an individual's wealth and hard work; it also preserves a way of life. There are several ways to help ensure that a farm within a family is not sold as a subdivision or commercial property. The...
What an executor does in an estate plan
People in North Dakota who are named as executors under a will have a number of duties they must carry out after the testator dies, but they can make the job easier by doing a few things while the individual is still alive. They should get a copy of the will and note...
Estate planning may help to protect assets
When people in North Dakota plan for the future, they may be concerned about how to best protect their assets and ensure that they reach their intended beneficiaries. Especially in times of economic crisis, bankruptcies and financial disputes that proceed to court can...
Documents needed in an estate plan
People in North Dakota who are creating an estate plan may want to consider several different types of documents. Most people need a last will and testament, which can appoint an executor for the estate and guardians for any minor children. A will can also be used to...
Understanding the tax implications and benefits of trusts
For North Dakota residents who are not familiar with the term probate, probate refers to the process by which a will is reviewed and the assets listed therein are distributed. This process is overseen by a probate court and can take months or even years, and it can...
