Estate planning in north dakota
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Estate Planning in North Dakota. Getting Started. Getting Started. What is estate planning? . Basic Steps in Estate Planning . Initiate the discussion Take inventory and evaluate the present Develop objectives Choose professional advisers and discuss objectives

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Estate Planning in North Dakota

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Estate planning in north dakota

Estate Planning in North Dakota

Getting Started


Getting started

Getting Started


What is estate planning

What is estate planning?


Basic steps in estate planning

Basic Steps in Estate Planning

  • Initiate the discussion

  • Take inventory and evaluate the present

  • Develop objectives

  • Choose professional advisers and discuss objectives

  • Consider alternatives and implement the plan

  • Review and modify


Initiate the discussion

Initiate the Discussion


Take inventory and evaluate the present

Take Inventory and Evaluate the Present


Develop objectives

Develop Objectives


What are your objectives

What Are Your Objectives?

Examples:

  • Provide security for surviving spouse

  • Retire at age ____

  • Name guardians, conservators or trustees for minor children

  • Transfer specific property to specific people

  • Provide charitable bequests

  • Other


Choose professional advisers and discuss objectives

Choose Professional Advisers and Discuss Objectives


Consider alternatives and implement your plan

Consider Alternatives and Implement Your Plan


Review and modify

Review and Modify


What can a plan do for you

What Can a Plan Do for You?


What your attorney should know

What Your Attorney Should Know

  • Personal information

  • Property information

  • Assets

  • Insurance

  • Accounts receivable

  • Liabilities

  • Retirement plans

  • Location of important papers


Property ownership

Property Ownership

  • Fee simple absolute

  • Life estates and remainder interests

  • Sole ownership

  • Co-ownership


Fee simple absolute

Fee Simple Absolute

  • The closest thing to absolute ownership


Life estates and remainder interests

Life Estates and Remainder Interests

  • Life tenants

  • Remaindermen


Sole ownership

Sole Ownership


Co ownership

Co-ownership

  • Tenancy in common

  • Joint tenancy


Summing it all up

Summing it All Up

  • What is estate planning?

  • Basic steps in estate planning

  • What can a plan do for you?

  • What your attorney should know

  • Property ownership


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