Across the country, millions of Americans dedicate themselves to caring for elderly parents, disabled loved ones, or seriously ill family members. These caregivers perform demanding and often exhausting work, frequently without pay or recognition. To honor their commitment, November has been designated National Family Caregivers Month (NFCM). This annual observance offers an opportunity to recognize the vital role family caregivers play, acknowledge their challenges, and explore ways to support … [Read more...] about Supporting a Caregiver during National Family Caregivers Month in North Dakota
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What You Need to Know Before Executing a Power of Attorney in North Dakota
A Power of Attorney is one of the most versatile and frequently used legal instruments in estate planning. Nearly everyone will, at some point, either create one or be appointed under someone else’s Power of Attorney. Despite its prevalence, many individuals do not fully understand how a Power of Attorney functions, the extent of the authority it conveys, or the potential consequences of its misuse. Before executing this important document, it is essential to have a comprehensive understanding … [Read more...] about What You Need to Know Before Executing a Power of Attorney in North Dakota
How to Avoid Mistakes When Making Gifts in Your North Dakota Estate Plan
Like many people, you may prefer to gift assets to loved ones while you are alive instead of waiting until your estate is distributed after your death. After all, lifetime gifts allow you to see the results of your generosity in real time. Paying for a grandchild’s education, for instance, can give you the joy of watching them succeed academically. Other gifts make more sense to enact after you pass away, such as gifting the family residence to adult children. Regardless of when you gift assets, … [Read more...] about How to Avoid Mistakes When Making Gifts in Your North Dakota Estate Plan
What You Need to Know About Modifying or Terminating a Trust in North Dakota
Trusts are a central part of many estate plans because they allow individuals to manage, protect, and distribute assets in a controlled and efficient way. Trusts can be highly flexible estate planning tools, but that flexibility depends greatly on the type of trust that is created. Moreover, once a trust has been established, the ability to modify or terminate the trust will typically depend on the terms of the trust agreement itself as well as applicable state laws. An attorney at Thompson Law … [Read more...] about What You Need to Know About Modifying or Terminating a Trust in North Dakota
Preparing for FinCEN Real Estate Reporting
Although the Corporate Transparency Act’s Beneficial Ownership Information reports no longer apply to domestic entities due to their exemption, another FinCEN requirement is moving full steam ahead, and estate planning attorneys should not overlook it. Starting December 1, 2025, professionals involved in real estate closings and settlements will be required to submit reports to FinCEN for certain non-financed transfers of residential property to legal entities or trusts. Continue reading to … [Read more...] about Preparing for FinCEN Real Estate Reporting
Medicaid Coverage for Home-Based Long-Term Care in North Dakota
Medicaid combines federal and state funding to offer health benefits to low-income individuals and families. While many people are aware that Medicaid will cover the cost of nursing home care (for eligible participants), people are often unaware that in North Dakota, Medicaid also has programs that cover home health services, allowing seniors to potentially avoid institutional care. To help ensure that you and your loved ones take advantage of these programs, an attorney at Thompson Law explains … [Read more...] about Medicaid Coverage for Home-Based Long-Term Care in North Dakota
15 Common Trusts Explained
While most people have at least heard of trusts, the actual process of creating one often feels overwhelming. A trust can be an extremely valuable estate planning tool but choosing the right type of trust is essential to ensure that it aligns with your specific needs and goals. If you are considering adding a trust to your estate plan, it is helpful to understand the many types of trusts available and what they are designed to accomplish. Always work with an experienced estate planning attorney … [Read more...] about 15 Common Trusts Explained
“Let’s Go Crazy” … Over Prince’s Estate
When Prince died over nine (9) years ago, he shocked his fans one last time. Turns out, his unexpected death wasn’t the last surprise. Prince died without an Estate Plan causing his siblings to spend the next six years fighting over his Estate. Continue reading to learn more. … [Read more...] about “Let’s Go Crazy” … Over Prince’s Estate
How Do I Modify My North Dakota Will?
Creating a Last Will and Testament is an important part of any estate plan, yet the work does not end once the Will has been signed and executed. After all, the conditions that exist at the time you execute a Will are unlikely to remain the same forever. Marriages, divorces, births, deaths, and shifts in financial circumstances are only a few of the many changes that may occur over time. As your life evolves, so too should your estate plan because outdated provisions, conflicting documents, or … [Read more...] about How Do I Modify My North Dakota Will?
Hulk Hogan and Disclaimers…?
When Terry Bollea, aka “Hulk Hogan,” died on July 24 at age 71 in his Clearwater, Florida home, I wondered if I’d have another celebrity estate gone awry to discuss. I found something different but equally important for Estate Planning practitioners: disclaimers. Continue reading to learn more. … [Read more...] about Hulk Hogan and Disclaimers…?
