Charlotte Estate Planning Blog
Have you considered the details of your advance directive?
An advance healthcare directive, sometimes called a “living will,” protects your right to choose what medical treatments you do and do not want when you reach the end of your life. You have a legal right to refuse any type of treatment, but an advance directive may be...
5 things to update in an estate plan after your divorce
The end of a marriage can change your life in ways you don’t expect. Divorce can be a stressful and exhausting process, but it doesn’t always end right after the separation is complete. After a divorce, there’s still an important step you should take to secure your...
Charity beneficiary might present a solution to Secure Act
At the start of 2020, the Secure Act took effect and left many people wondering about retirement plans and estate plans. In a scramble to help clients update plans and offer new protections, many financial advisors began to advise the use of a charitable beneficiary...
What does an executor do?
Being named a personal representative, also known as an executor, in a loved one's will is a huge responsibility. The executor of a will has many duties, from paying beneficiaries to settling the remaining debt. While the actual list of duties can vary depending on...
What are pros and cons of setting up a private foundation?
Some people feel satisfied making regular donations to a cause. However, you may want to set up an operation that raises money for your cause and endures beyond your lifetime. Such goals are why some people create a private foundation. Like other forms of charitable...
3 reasons to start business succession planning today
Starting and growing a small business usually requires a tremendous amount of time, money and effort. Still, most small business owners do not have a succession plan. It takes time to create a meaningful plan. If you have been putting off writing one for your...
How does a special needs trust affect SSI?
Creating a special needs trust is necessary if you have a child or dependent with special needs. However, persons with special needs often benefit from supplemental Security income (SSI) government benefits. It is important to understand how these two entities...
What is fiduciary duty?
When you take on the duties of administrator of someone’s estate or trustee of someone’s trust, you become a fiduciary. FindLaw explains that as such, you must work for the best interests of the heirs or beneficiaries in all that you do. If you fail to do so, the...
What are some pros and cons of a testamentary trust?
There are many examples of trusts when you get into estate planning. It is why you might want a second opinion since there is such a range to consider. You may think of trusts as something you chip into over your lifetime, but when it comes to the testamentary trust,...
Is establishing a special needs trust necessary for our child?
There may be days when it feels like you and your spouse are the only people in North Carolina who genuinely understand what your son or daughter requires to thrive. Establishing and funding a special needs trust might give you the peace of mind that he or she will...
