Families today rarely fit a single traditional mold. Divorce, remarriage, and long-term partnerships have reshaped what family life looks like across the United States. Many households now include spouses, children from prior relationships, stepchildren, and shared children, all living together and building meaningful bonds. While these families are often deeply connected, estate planning within a blended family structure requires careful legal planning and deliberate decision-making. Without … [Read more...] about Estate Planning for Blended Families in North Dakota
The Risks of DIY Estate Planning in North Dakota
Creating an estate plan is an essential step in securing your legacy and protecting your loved ones. It involves preparing legal documents that reflect your wishes for the distribution of your property, the care of minor children, and your preferences in the event of incapacity. With the growing availability of online templates and DIY kits, some individuals are tempted to forgo the assistance of a qualified attorney. Although the do-it-yourself route may seem inexpensive and convenient, it can … [Read more...] about The Risks of DIY Estate Planning in North Dakota
Honoring Military Families in North Dakota Through Estate Planning
Each November, Americans pause to recognize the strength, resilience, and dedication of the men and women who serve in the United States Armed Forces, as well as the families who support them. November was Military Family Appreciation Month, sometimes called National Military Family Month. Even though November is over we are still able to offer a meaningful opportunity to reflect on the extraordinary sacrifices made by military households and to express gratitude for their continued service to … [Read more...] about Honoring Military Families in North Dakota Through Estate Planning
End-of-Year Estate Planning Steps for Your North Dakota Estate Plan
As the close of the year approaches, many North Dakotans take time to assess their financial health, personal goals, and plans for the future. Estate planning should be part of that reflection. A well-crafted estate plan protects the people you care about, preserves your property, and ensures that your intentions are honored long after you are gone. Reviewing your documents before December comes to an end allows you to adjust for life changes, clarify your decisions, and strengthen the legal … [Read more...] about End-of-Year Estate Planning Steps for Your North Dakota Estate Plan
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?
Bridging the Past and Future
The best Estate Planners stay current on the latest trends. The American Academy of Estate Planning Attorneys held its semi-annual conference providing education on selected topics designed to inspire excellence in its Members. Read on to learn more about the unique experience at the Fall Summit 2024 Conference. … [Read more...] about Bridging the Past and Future
A Message from the Murdochs
Art often imitates life and the latest drama surrounding Rupert Murdoch demonstrates that. Most of the time, when an individual creates an irrevocable trust, they part with dominion and control over the assets, and it is difficult to change the terms. Not long ago, Rupert Murdoch filed a petition in Nevada probate court to change the terms of an irrevocable trust that was originally created in 1999. Read on to learn more. … [Read more...] about A Message from the Murdochs
Courts Allowing More Flexible Trust Amendments
As much as I enjoy writing about celebrity Estate Planning gone wrong, and less often, right, occasionally, a court opinion catches my attention. That’s particularly true when the decision will have lasting implications for Estate Planning. This blog returns to the basic lessons about amending a Trust. In an increasingly litigious world, disgruntled beneficiaries feel emboldened to fight for what they think is theirs. It doesn’t always work out in their favor, especially when they base their … [Read more...] about Courts Allowing More Flexible Trust Amendments
The “Juice” and an Executor’s Duties
Certain individuals have a knack for making headlines. Orenthal James Simpson was one of those people. He first made headlines for his talent on the football field. Later, he made them as an actor and broadcaster. In 1994, he made headlines when he was arrested for the murder of his former wife, Nicole Brown Simpson, and her friend, Ronald Goldman. Orenthal James Simpson died on April 10, 2024, and with his death, his presumed Executor made headlines, perhaps for the last time for the “Juice.” … [Read more...] about The “Juice” and an Executor’s Duties
The Purple Onion…an ode to Tangible Personal Property
More than one estate has boiled down to a fight over tangible personal property. Sometimes even if it lacks monetary value, it holds tremendous emotional significance for the beneficiaries. Maybe they remember Mom wearing a string of fake pearls or the no-name watch that Dad wore with pride. Things become more heated; however, when tangible personal property has value. Passing it on to beneficiaries requires a plan both during life and after death. Read on to learn more. … [Read more...] about The Purple Onion…an ode to Tangible Personal Property
