As of January 1, 2024, the federal Corporate Transparency Act (CTA) has been in effect, marking a significant change in how business entities in the United States manage their reporting obligations. Passed by Congress on January 1, 2021, the CTA introduces a beneficial ownership database administered by the Financial Crimes Enforcement Network (FinCEN)—a bureau of the U.S. Department of the Treasury. This controversial law is estimated to affect approximately 32.6 million businesses in 2024 alone, with millions more impacted each year thereafter. This article discusses the intricacies of the C ..read more

North Dakota Trust Law: Beneficiaries’ Ability to Remove and Replace Trustees For many individuals, trusts can serve an essential role in their estate plan. Trusts can provide numerous benefits, such as avoiding or minimizing probate, managing assets effectively, and ensuring the distribution and safeguarding of wealth for future generations. However, trusts can also pose complexity, especially when disputes arise between trustees and beneficiaries. It’s crucial to effectively navigate these disputes, particularly when considering the removal of a trustee. This article discusses a powerful too ..read more

Leveraging the Benefits of Pore Space Law in North Dakota In our nation, North Dakota has become a hub for the energy industry, particularly in oil and gas production. However, recent legislation and court cases have introduced a new dimension to the property rights of landowners in the state. This article discusses the issue of pore space ownership, the associated legislation, and the legal implications for landowners. Pore space is the empty space or void within rock formations or soil particles beneath the earth’s surface. These spaces, which can occur naturally or be artificially created ..read more

Recently Charles DeMakis appeared on Midwest Law Talk hosted by Joe Wetch to discuss the basics of estate planning.  Take a listen! The post Estate Planning appearance on Midwest Law Talk first appeared on Demakis Law PLLC ..read more

DeMakis Law, PLLC is excited to announce that Charles G. DeMakis has earned top ratings from Super Lawyers, the Thomson Reuters lawyer rating service. Charles G. DeMakis, owner of DeMakis Law, PLLC was selected to the 2022 Great Plains Super Lawyers. Charles was previously selected by Super Lawyers as a Great Plains Rising Star from 2013 to 2018 and to the Great Plains Super Lawyers in 2021. The designation honors attorneys who are recognized by their peers as being among the best in their practice area and who demonstrate high professional achievement. The annual selections are made using a m ..read more

North Dakota currently recognizes two forms of lifetime real property transfer deeds in which the owner or grantor retains control of the property while living. The two forms are the life estate deed and the transfer on death deed. I get many calls regarding the differences between these two options and questions and concerns regarding the benefits and the negatives of each form. The life estate deed is the most familiar way of transferring real property or minerals outside or probate, in North Dakota, will allowing the owner/grantor to retain control of the property. A life estate deed transf ..read more

DeMakis Law, PLLC is excited to announce that Charles G. DeMakis has earned top ratings from Super Lawyers, the Thomson Reuters lawyer rating service. Charles G. DeMakis, owner of DeMakis Law, PLLC was selected to the 2021 Great Plains Super Lawyers. Charles was previously selected by Super Lawyers as a Great Plains Rising Star from 2013 to 2018. The designation honors attorneys who are recognized by their peers as being among the best in their practice area and who demonstrate high professional achievement. The annual selections are made using a multi-phase process that includes a statewide s ..read more

So you have taken the big step to start a business.  AWESOME!  The first thing you should do is create a business structure to protect yourself and your business. The LLC is currently one of the most popular and prevalent business forms in America (so you’re in good company if an LLC is right for you). One of the biggest reasons people decide to form an LLC is for its protection in legal matters, should you form an LLC? LLC’s allow you to separate yourself from your company in the event of something happening that will involve your company’s money, property, etc. It’s important to no ..read more

With daily changes and developments with COVID-19 make sure you have a plan to continue or restart your operations. It is also wise to know you rights and your benefits under the CARES act and the programs available by the federal government. The SBA has an excellent website for all the resources for small business under the COVID-19 pandemic.  https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources The key to managing any crisis is preparation. Here are seven actions that you as a leader can take to ensure your organization is in the best shape possible to wi ..read more

As the Covid-19 pandemic continues to occupy our daily lives it is important to plot a course through these times of uncertainty.  At times of crisis legal and economic planning is vital as we move through this uncharted territory and new normal. DeMakis Law continues to operate and we are available via remote technology, telephone and email for all your legal needs. As the state and federal government continue to respond to the outbreak we are here to help you and your business evaluate the legislation and plot a course to weather these changes.  The Families First Coronavirus bill ..read more