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Not everyone who dies in North Dakota has beneficiaries and an executor or personal representative who lived in the state with them. People relocate for work and relationships all the time. Whatever the circumstances, out-of-state probate administration can often...
You do not have to give equal bequests to all of your heirs. For example, a parent with $300,000 and three children does not have to leave $100,000 to each person. If they wanted, they could leave all $300,000 to the same individual, or they could simply divide things...
When doing your estate planning, your legal and financial advisers might recommend trusts as a vehicle to convey money or assets to your heirs. One type of trust can be specifically drafted to prohibit heirs’ access to the trust principal and from bleeding it dry with...
When it comes to estate planning, it's crucial to ensure that all of your assets are looked after and that your wishes are honored after your passing. Creating an estate plan can seem overwhelming, but it doesn't have to be. Here are some of the key elements that...
When planning out your estate, you may find a will isn’t enough to help secure and distribute your assets. Assets in a will, after all, have to go through the probate process and may include estate taxes. Instead, you’ve considered creating a trust. Yet, there isn’t...
One of the aspects of estate planning is keeping your children safe and well-taken care of if you die or are incapacitated before they’re adults. This is done by designating a guardian for them in your estate plans. However, before you begin, you should have an...
Over the years, there has certainly been a tradition where parents raise their children on the farm, the children leave to go to college and then they come back home and run the farm. Reports have claimed that this is more often true for sons than daughters. But the...
When making a will, you are probably aware that you need to appoint an executor, otherwise referred to as a personal representative. They will be responsible for administering your estate when you are gone and implementing your last wishes as specified by the will. It...
Trust is a powerful estate planning tool if you want to avoid probate and safeguard your loved one’s future. However, for a trust to serve its intended purpose, it must be valid. A trust, like any other legal document, can be contested by your dependents, or anyone,...
One of the main goals of estate planning is simply to decide what happens to your financial assets after you pass away. You want to make sure that your heirs and other beneficiaries know who is supposed to get which assets. However, you have the option to give...
