According to the American Association of Retired Persons (AARP), individuals in North Carolina and throughout the country should have a trust instead of a will. Trusts are separate entities that hold assets for the benefit of one or more individuals. Therefore, there...
Why trusts can help the estate planning process
Trusts can be an important part of the estate planning process for many people in North Carolina. Since they offer greater privacy and flexibility, people may opt to create a trust to handle matters in a way that may be far more challenging when using a will. Trusts...
Getting started with succession planning
If business is going well, you probably do not want to think about stepping down from the helm. In fact, even if your company is going through a tough time, you may want to be the one to see it through to better days. Unfortunately, this cannot go on forever. At some...
Spendthrift trusts provide peace of mind
When North Carolina residents draft their estate plans, they are sometimes worried that their heirs will be unprepared for a significant inheritance and fritter away assets that they have worked hard all of their lives to accumulate. These concerns may be especially...
Tom Petty’s heirs in conflict over estate plan
North Carolina fans of the late musician Tom Petty may be aware that his family has been locked in a battle over his estate. At issue is the ambiguity of the language used in his estate planning documents. Petty created a trust and made his wife the trustee. However,...
