As you and your spouse get divorced, you know that you need to determine where the children are going to live. Both you and your spouse believe that you/they should have custody and that they should live with you/them. In order to settle the matter, your spouse...
Fargo Legal Issues Blog
Can you create multiple trusts?
When drafting a will, you may find that it doesn't have a lot of options to secure your assets. For example, your estate could be taxed and your heirs may have to wait up to a year before they inherit the remainder. So, what can you do to avoid these issues? For...
What happens if you die without a will in North Dakota?
In North Dakota, dying without a will means that your estate will be subject to the state's intestate succession laws. Intestate succession refers to the legal process of distributing the property and assets of a person who dies without a valid will. Understanding...
Is it better to buy or lease commercial real estate?
If you have the capital available, you might be thinking about whether it’s a good idea to buy a piece of commercial real estate as opposed to leasing one. The answer will always be dependent on what’s right for you and what your wants and needs are. With pros and...
When should you draft contracts when forming your business?
Forming a business can be exciting and overwhelming. You may be excited that you are fulfilling your dream, but simultaneously have to make crucial decisions regarding financing, business structure, marketing approaches, objectives and hiring among others. And as a...
3 challenges of trying to manage probate from out-of-state
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...
What employment mistakes do business owners often make?
Operating a business in the modern world often means juggling dozens of tasks simultaneously. It is easy to lose track of your activities and make a mistake with employment matters. Unfortunately, errors that violate state and federal labor laws may pose severe...
What do family business owners do in a divorce?
Family business owners sometimes find themselves in a precarious situation when the business is owned by a married couple. What if that couple decides to get a divorce? Is the business in jeopardy? There are many different solutions that people can use, but let’s take...
Should you use unequal bequests?
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...
4 important questions about spendthrift trusts
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...