For many families in North Dakota, crafting an estate plan involves more than choosing heirs and signing a basic Will. A Will remains an essential cornerstone, yet it does not always provide the degree of structure, protection, and long-term stability that more sophisticated tools can deliver. One planning mechanism that can dramatically strengthen an estate plan is a trust. When exploring whether a trust belongs in your broader estate planning strategy, you must also determine whether that … [Read more...] about Pros and Cons of Including an Irrevocable Trust in Your North Dakota Estate Plan
Are Irrevocable Trusts Really Irrevocable – Part III
When I began practicing law, clients created irrevocable trusts with caution because the trust was then set in stone. By the time I left private practice, clients created irrevocable trusts with more frequency and considerably less caution because changing irrevocable trusts became commonplace. Trusts and Estate practitioners have several mechanisms that allow them to change an irrevocable trust. The first part of this three-part series explored changes to irrevocable trusts using judicial or … [Read more...] about Are Irrevocable Trusts Really Irrevocable – Part III
