Charlotte Estate Planning Blog
3 qualities your power of attorney should have
While you may have enjoyed a healthy life so far, you probably recognize the frailties of the human body. Whether due to age, illness or injury, you may have difficulty making important decisions without some assistance. Even worse, you may eventually become incapable...
Detailing intestate succession
After the initial shock and/or sadness surrounding the death of your spouse begins to abate, you may begin to question how they wished to have their assets distributed. Typically those wishes are stipulated in a will, yet what if your spouse died without one? Many in...
What is decanting?
Some people are not sure about setting up trusts because they can be hard to change. Irrevocable trusts, for example, cannot be altered unless the beneficiaries consent to it. Fortunately, North Carolina law provides residents with a way to change the terms of their...
How elective share may affect your estate plan
The first part of any new year is a good time to revisit your existing estate plan. If you do not already have one in place, drafting a comprehensive will may be high on your resolution list. Either way, you should understand how North Carolina’s elective share rules...
Philanthropic strategies under new tax law
Many people in North Carolina find contributing to charitable organizations a way to help others and promote causes that they believe in. These organizations may be big or small, as with the donations themselves, but all are valuable for many reasons. The work done by...
What will happen to my pet when I am not around?
A common fear among many pet owners is what may happen to their pets upon their death. To many people, pets are like family. Since they cannot inherit property or money, it becomes hard to dictate what will happen to them after you are gone. The State of North...
Estate planning and a loved one’s mental illness
When a family member has a mental illness, this can create many obstacles for them as well as all of their loved ones. People may have a lot of concerns about their well-being and their future, especially if they count on a close relative for support. Estate plans can...
Appointing multiple trustees to your special needs trust
When you plan a special needs trust, assuming you are not going to act as a trustee, choosing a trustee will be a crucial choice. However, your choice may not be an easy one since your trustee needs to have the best interests of your relative in mind. Fortunately, it...
New tax law changes charitable strategies
Many people in North Carolina make donations to charities at different times in the year. Some of these donations may be modest while others may be more substantial. In the end, however, they all add up to help important causes. Consumers should feel good about making...
How can you include charitable giving into your estate plan?
How important is philanthropy to you? If you support causes now, then you may want to continue to support said causes, even after you pass away. Think about the charities and nonprofits that you support now. Will you leave behind a legacy? If you choose an estate...
