Here at German Law Group, P.C., we want you to know that Estate Planning isn’t just for the very wealthy. An Estate Plan can deal with small, large, complex, and simple estate matters. That’s why it’s important to know what Estate Plan is right for you. Here in Grand Forks, ND, we understand that your family and financial dynamics are not the same as the next client. That’s why our Estate Planning attorney strives to provide you with an Estate Plan that fits your lifestyle, tailored to defend your estate decisions against any situation. With an Estate Plan, you’ll have the peace of mind knowing your estate remains in your control now and the hereafter.
Estate Planning with an Elder Law Focus
Elder Law encompasses several different aspects including Incapacity Planning , Long-Term Care Insurance, Medicaid Planning, Nursing Home Planning, and retirement living, just to name a few. Our Grand Forks, ND Estate Planning attorneys can help customize an Estate Plan, which can include provisions for your future care. With proper planning made ahead of time, you can rest assured that you will receive the kind of care you deserve even if you are unable to mentally and physically care for yourself.
Medicaid and Nursing Home Planning
Nursing home costs are averaging $74,000 annually. It’s difficult to imagine how you’ll pay for long-term care. Trying to qualify for government benefits such as Medicaid possibly means decreasing your estate size by more than half. By working with our Grand Forks, ND Estate Planning attorneys, we can provide you with Medicaid Planning and Nursing Home Planning services, so that you qualify for government assistance like Medicaid without having to deplete your estate. By including a Medicaid and Nursing Home Plan into your Estate Plan, you can set into motion several triggers, which will move your assets around so that you qualify for Medicaid when the time arises.
Managing the Estate of the Deceased: Probate
Probate is the court-supervised process of settling debt and paying taxes of the deceased, as well as a means of distributing the assets based on the instructions set forth in a Will document. If there isn’t a set Will, a Probate court will determine how the assets will be managed. With the help of a Grand Forks Estate Planning attorney, the Probate process can go much smoother, meaning you spend less time in court.
A Living Trust
A Living Trust is prepared to protect your property and your beneficiaries. Used as an Estate Planning tool, this legal document allows you to transfer property to your beneficiaries without the added stress of a Probate hearing. Unlike a Will, assets funded into a Living Trust are not subject to Probate court. The Estate Planning attorneys here in Grand Forks can help you draft a Living Trust to include in your comprehensive Estate Plan.
When Should You Start Your Estate Plan?
Estate Planning is all about having the ability to make your own decisions at a time when you are able to make them. The likelihood that many of us will face a debilitating illness, rendering us unable to decide for ourselves is likely, and having an Estate Plan in place can help eliminate any uncertainties about your estate whether or not you are here to communicate your wishes. Creating an Estate Plan today means that you remain in control over the management of your assets under any situation.
Contact our Estate Planning offices in Grand Forks, ND & Fertile, MN. We are dedicated to providing you with a personal Estate Plan, customized to fit your specific familial and financial needs.