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
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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 As your life evolves, so too should your estate plan because outdated provisions, conflicting documents, or … [Read more...]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…?
10 Mistakes to Avoid When Making Gifts in Your North Dakota Estate Plan
Making gifts while you are still alive can be a powerful – and enjoyable – way to pass along wealth. Paying for a grandchild’s education or providing a downpayment so your adult child can purchase a home, for example, allows you to experience the benefits your gift brings first-hand. Although gifts made during your lifetime are undoubtedly made with the best of intentions, these gifts can trigger some unintended negative consequences when they are made without considering them within the broader … [Read more...] about 10 Mistakes to Avoid When Making Gifts in Your North Dakota Estate Plan
What Football and Estate Planning Have in Common
I, like many Americans, love football. As I settled in to watch my team’s game this week, I wondered if I could turn it into a blog. As I watched, I realized, in fact, football and Estate Planning share many commonalities. Continue reading to learn more. … [Read more...] about What Football and Estate Planning Have in Common
How to Choose a Trustee for Your North Dakota Trust
Creating a trust is one of the most effective ways to safeguard your assets, provide for loved ones, and ensure your wishes are carried out long after you are gone. Moreover, a well-drafted trust can provide flexibility, avoid probate, and protect wealth for future generations; however, even the best trust agreement can fail if the wrong Trustee is chosen to manage it. Selecting the right person, or professional entity, to serve as Trustee is therefore one of the most significant decisions you … [Read more...] about How to Choose a Trustee for Your North Dakota Trust
What Is a Payable on Death Account and How Can It Fit into Your North Dakota Estate Plan?
A Payable on Death (POD) account is a simple yet effective estate planning tool that allows you to designate a beneficiary who will automatically inherit the funds in the account upon your death. This type of account can be a useful way to transfer assets outside of probate, ensuring that your loved ones receive their inheritance quickly and efficiently. An attorney at Thompson Law helps you understand how a Payable on Death account works and how one might fit into your overall estate plan to … [Read more...] about What Is a Payable on Death Account and How Can It Fit into Your North Dakota Estate Plan?
10 Common Steps in the North Dakota Probate Process
Losing a loved one is a deeply emotional and difficult time. While grieving, it can be overwhelming to think about the legal and financial matters that must be addressed. If you have been named as the Personal Representative of an estate in North Dakota, it is important to understand your responsibilities and the steps involved in the probate process. With that in mind, an attorney at Thompson Law discusses ten common steps in the North Dakota probate process, offering you clarity and direction … [Read more...] about 10 Common Steps in the North Dakota Probate Process
