As your parents age, a critical question may arise: who will care for them if they can no longer manage independently? In some cases, a guardian may be necessary to make important decisions concerning their health, finances and daily living. Choosing the right guardian is a significant responsibility. Therefore, you should equip yourself with the knowledge you need to make a well-informed decision for your loved ones. What is guardianship? Guardianship is a legal process that grants an individual (the guardian) the authority to make decisions on behalf of another person (the ward) deemed incap ..read more

Determining what to do with a family home is often one of the biggest decisions that divorcing couples have to make if spouses own it together (or have otherwise invested significantly in it), which is typically the case. If one spouse wants to keep the home and the other is agreeable to that, then they need to work that out financially as they divide their assets and debts. If they still have a mortgage on the home, as most couples do unless they’ve been in their home for decades or were able to pay cash for it, it’s typically recommended that the spouse who’s keeping the home refinance the m ..read more

Going through a divorce means you’re going to experience a lot of emotions. While you may be elated that the process is in motion, there’s a chance that you’ll also experience some negative emotions. Being able to work through these emotions can help you to reduce the stress that you feel during the process. If you have children, this may also help you to show them effective ways to handle major life changes. Acknowledge and accept your feelings Divorce can unleash many emotions. These include sadness, anger, relief and confusion. It’s crucial to acknowledge these feelings as a natural respons ..read more

Starting a new business means taking a lot of risk. People can’t know for sure how the market might respond to a new business endeavor, and rapid changes might render a once-viable concept unprofitable in a matter of weeks, months or years. Entrepreneurs not only need to have a firm grasp of market conditions, but they also need to very carefully comply with all applicable state and federal laws to better ensure the success of their endeavors. Constant changes to legal expectations for businesses create the possibility of compliance issues that could lead to fines, public relations concerns or ..read more

Even the best of co-parenting situations have their challenges. This can be particularly true when one parent has an erratic schedule due to on-call employment or the fact that their job requires frequent travel. That can cause the affected parent to rely frequently on childcare services from relatives, friends, neighbors or nannies – much to the dismay of their co-parent. If you’re concerned about how often your co-parent may need to turn your child over to a different caregiver, you may want to consider integrating a “right of first refusal” clause in your parenting plan. How does a right of ..read more

Creating a powerful will is about much more than making final arrangements. It also involves giving your loved ones peace of mind during a difficult time in their lives. Of course, the comfort of having your estate matters settled is beneficial, but an outdated, invalid or missing will can throw everything into disarray. The following tips may help keep your estate and other vital documents secure and effective. Get regular reviews and updates Life throws its share of curveballs. Marriage, new children or tragic losses generally require will updates. Schedule annual reviews when life flows ser ..read more

As a business owner, you probably have agreements governed by legal contracts with businesses, employees or others. Do you ever skim over the introductory paragraphs of your contracts, dismissing them as mere formalities? Those segments, usually starting with “Whereas,” are not just fluff – they are called recitals and can impact the strength of your agreement. Instead of assuming they do not matter, learn how they can help – or harm – your business relationships. What purpose do they serve? Contract recitals set the stage for the agreement by providing background information, outlining the pa ..read more

There are a variety of scenarios that could put a family farm at risk in North Dakota. For example, when agricultural families have multiple bad seasons back-to-back, they might find themselves in a scenario where they struggle to pay their bills and afford the necessary machinery to keep their farm operating. Legal and familial challenges can also put the ownership stake in the farm at risk. At a multi-generational farm, the divorce of any family members who have an interest in the farm could lead to the forced sale or refinancing of the property. How can someone trying to engage their adult ..read more

Inheriting a home from a loved one can be blessing – particularly if you can make it your family home. It’s even better if the mortgage is paid off so that you can own it “free and clear.” Even if you have no interest in living in it or using it as a rental or vacation property, it can be worth a large amount of money if you sell it. That’s especially true if you don’t have to put a lot of money into upgrading and remodeling it. Yet, whether someone is offered a home by a loved one who’s doing their estate planning or they learn after the loved one is deceased that they left them their home, t ..read more

As couples end their marriage, determining the fate of shared and individual financial assets, especially investments, becomes a primary concern. Individuals need to approach this process with a clear understanding of securing their financial interests. Accurate evaluation and strategic planning ensure these assets are protected and fairly considered in the property division process. Both parties must avoid making emotional decisions and focus on the logical side of the property division. Documenting and valuing investments accurately Ensuring that all investments are thoroughly documented and ..read more