Charlotte Estate Planning Blog
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...
How do wills and living trusts differ?
Planning for the future of your loved ones by preparing a will can help secure their futures, but perhaps you are unsure about where to begin. This issue is likely more common than you believe; in fact, the American Association of Retired Persons notes that nearly 60...
What is the Uniform Power of Attorney Act?
You decide the time has come to put your affairs in order. Estate planning may be a long and drawn-out affair. If you have people around whom you trust, the process may be a little easier. When deciding on who to take responsibility of the Power of Attorney, you may...
How do you choose an executor?
When North Carolina residents begin to craft a will or estate plan, there are many things to do. But one of the first things is finding an executor for your estate. This person will have many important responsibilities. Because of this, you should select yours with...
Initial tasks for executors of a loved ones will
As an executor of a North Carolina will, you have a lot of work ahead of you. Chances are at least a portion of the estate must go through probate. This time-consuming process can take months or years, depending on the size of the estate and previous court cases that...
What are some options to give to charity?
If you are eager to donate part of your wealth to a cause you are passionate about, there are a number of ways you can give to a charitable organization. Not everyone donates to a cause in the same way. For instance, some people prefer to donate material property to a...
