North Carolina residents may be able to learn a lot about long-term care needs from classic movie "Willie Wonka and the Chocolate Factory." Like Charlie's grandparents in the film, the majority of those over the age of 65 will have long-term care needs. Of the 70...
Month: February 2017
Tax rules for foreign gifts and inheritances
Many North Carolina residents are globally mobile. As a result, some of them might have questions about how property received from outside of the United States may be taxed. Whether a gift or inheritance that is received from another country will be taxed seems to be...
Singers’s family takes matter to court
North Carolina residents may know that the singer known as Bobby Vee died in October 2016 because of Alzheimer's disease. He started his career in a February 1958 concert when he filled in for scheduled acts who were killed in a plane crash the morning of the show....
Estate planning mistakes parents sometimes make
North Carolina parents usually plan their estates for the benefit of their children. Not wanting their child to suffer the financial hardships that they did, they may be more than willing to name their child as the beneficiary of their most valuable assets. However,...
Can you challenge a testator’s mental capacity?
Do you suspect that the will of your parent or other elderly loved one is invalid? Contesting a will is a complicated process because the level of mental capacity required by the law is not high. Only the capability of an individual to make decisions on behalf of him...
Understanding gift tax limits
North Carolina residents who are lucky enough to have some money to give away should take the time to look into gift tax limits. Contrary to what many people think, the recipient of a large financial gift does not pay tax. Under the transfer tax system, the person who...
