December 2017 Archives

Digital assets as part of an estate plan

North Carolina residents should incorporate digital asset planning as part of their overall estate plan. This may make it easier for others to clean out, shut down or otherwise manage email accounts, bank accounts and other online properties. In some states such as North Carolina, access to electronic accounts may be governed by the Revised Uniform Fiduciary Access to Digital Assets Act, or RUFADAA. This generally allows a designated party to access electronic accounts stored in a computer, phone or cloud network.

Cy Pres doctrine allows charitable trusts to adapt and continue

When people in North Carolina choose to form a charitable trust, they might want them to serve their purpose in perpetuity. Unlike other trusts, a charitable trust has the option of continuing its mission indefinitely. This open-ended feature on some charitable trusts, however, could result in the trust outliving the existence of its beneficiary. An educational institution closing its doors represents an example of a beneficiary ceasing to exist. In this situation, the Cy Pres doctrine sanctions the alteration of the trust so that it can continue.

The importance of keeping beneficiary designations current

People in North Carolina who are creating an estate plan should make sure they remember to include beneficiary designations. These are the individuals who receive assets such as retirement accounts and life insurance policies, which do not have to go through probate. Since beneficiary designations are separate from the documents that people often think about when planning their estates, such as wills and trusts, it is not uncommon that they often are forgotten.

Is DIY estate planning worth the risks?

Recently, you may have begun thinking more seriously about creating an estate plan. This desire may have stemmed from the recent birth of a child, a milestone birthday, the death of a loved one or numerous other factors. No matter the reason, creating this type of plan could help you get your affairs in order well before your passing.

Email Us For a Response
Orsbon & Fenninger, LLP - Estate Planning

Talk With Us: Schedule A Consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Orsbon & Fenninger, LLP - Estate Planning

Office Location

Orsbon & Fenninger, LLP
4201 Congress St.
Suite 110
Charlotte, NC 28209

Toll Free: 888-314-8134
Phone: 704-900-3883
Fax: 704-556-9601
Map & Directions

Office Hours: Monday : 8:30am–5pm Tuesday : 8:30am–5pm Wednesday : 8:30am–5pm Thursday : 8:30am–5pm Friday : 8:30am–5pm