April 2018 Archives

Certain precautions could help you avoid power of attorney abuse

Creating a comprehensive estate plan means assessing various aspects of your life and reviewing your options for how to address those aspects in the future. Some people may feel satisfied creating a plan that consists only of a simple will, but you could believe that using other important documents could better suit your particular needs.

Financial preparations for the future

Some people in North Carolina and other states across the United States will reach a point where they are incapacitated and unable to provide care for themselves without some kind of assistance. As people age, Alzheimer's and other health conditions can impact their daily lives, making it difficult for them to make financial decisions. Any kind of accident could result in someone being incapacitated as well, which can happen at any age.

How to manage assets for special needs individuals

If the parent of a special needs child in North Carolina plans to leave that child an inheritance, it should be done in a strategic manner. Simply leaving the money directly to the child could result in that person losing his or her access to Medicaid and other types of government benefits. One way to protect assets while retaining some type of control over the money is to create a first-party special needs trust.

Organizing estate plans

North Carolina residents can take certain steps to make sure that their estate plans are in order. Taking these steps can remove much of the burden endured by surviving loved ones who may have to handle their relatives' estates.

What happens in the probate process

People in North Carolina who have been appointed executors of a loved one's estate as well as those who have lost loved ones might wonder what the probate process is like and how long it will take. Although this can vary a great deal based on the complexity of the estate and any legal challenges, there is a basic structure that many estates will follow.

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