People in the Charlotte area who are planning what will happen with their wealth after they die may want to include charitable giving in that plan. Many North Carolina residents have causes and organizations which are dear to them. Speaking more generally, they may...
What happens if I die without an estate plan?
It’s surprising how many people with a lot of wealth die with no estate plan, not even a simple will. Still, stories of how a famous entertainer, or some other wealthy American, left no estate plan will make the national headlines occasionally. Wealthy residents of...
What is a no contest clause in a will?
One thing many people fear when they execute a last will and testament is that there will be a fight over the inheritance once they’ve departed. The last thing they want is for their beneficiaries (or anyone else) to become embroiled in a protracted court battle for...
When should you update your will?
Your will is a foundational part of your estate plan. This document lets you determine how you want to distribute your property upon your death. According to the American Bar Association, your will can range in complexity and encompass a variety of tax and family...
Have life events affected your estate plan?
A lot of people feel a sense of relief when they create their estate plan, and for good reason. Creating a detailed estate plan means that you have legal vehicles in place to direct the distribution of your assets as you see fit. But, while you should feel good about...
What are the requirements for making a will?
Creating a will is one of the first steps you will take as you begin the estate planning process. However, creating a will is more than just writing down who you want to leave your family heirlooms to. Each state has its own requirements for making a will and these...
How to incorporate charitable giving into an estate plan
For estate planners who want to include charitable giving as part of their estate plan, they should be familiar with the process and how estate planning tools can help them set up their charitable plan. Incorporating charitable giving can be an important part of...
3 factors to consider when choosing a trustee
If you have a substantial estate, want to provide for a relative who has a disability or seek to avoid some tax liability, setting up a trust may be an integral part of your comprehensive estate plan. While you must be certain to comply with legal and technical...
Who is qualified by law to be a personal representative?
Many, but not all, people who have a sizeable estate have a will. However, what if you died intestate, that is, without a will? In this situation the court will designate someone to serve as the administrator of your estate, referred to as a “personal representative”...
Estate plan concerns to address with children after a remarriage
For North Carolina residents who have had success in life and accrued a healthy nest egg and substantial assets, it is important to understand the importance of estate planning. Whether that is using wills, trusts or other means to protect their interests and the...
