2/24/2024 0 Comments North dakota estate plan checklistWhile creating an estate plan, a person might want to consider selecting a financial agent to manage all or a portion of their financial affairs. Signing Requirements – Must be signed by the principal and either a notary public OR two (2) witnesses (certain conditions apply).Should the principal choose not to complete the instruction portion of the document, a health care agent must be chosen to make medical decisions for the principal, always keeping the principal’s best interests in mind. If no health care agent is selected, the principal can simply fill out Part II of the document and health care providers will administer medical treatment as per the principal’s instructions. Health Care Directive – A legal document that is comprised of three (3) sections pertaining to medical decisions and other health care information: (i) appointment of a health care agent, (ii) health care instructions, and (iii) organ donation. This document only comes into effect when the principal is in a condition that prohibits them from making informed decisions for themselves. For this reason, a principal typically selects a spouse, family member, or close friend. The agent should be selected only if they are trustworthy and know the principal well enough to make health care decisions that would align with the principal’s values and wishes. To appoint a health care agent, one must execute a Health Care Directive form (described below). Therefore, it is important to consult an attorney before diving into the estate planning process.Ī health care agent is a representative appointed to make medical decisions for a person who has become incapacitated. Some sections of the checklist will not apply to all estate planners, and there might be other tasks that are pertinent to some individuals that aren’t covered in this guide. How to Create an Estate Plan in North Dakota (6 steps) The last two pertain to the distribution of a person’s estate after that person’s death. The first two documents are used to appoint representatives to handle medical and financial decisions should a person become incapacitated. The most essential estate planning tools are the Health Care Directive, the Durable (Financial) Power of Attorney, the Last Will and Testament, and the (Revocable) Living Trust. Through the execution of the documents included in this checklist, one can make arrangements so that a person’s estate and family are taken care of in the event of death or incapacitation. A North Dakota estate planning checklist is a guide that a person can follow to stay organized while creating their estate plan.
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