You may already know that your special needs child cannot have assets over a certain amount in order to receive benefits from the government. This limitation may make it seem difficult to plan for your child's future. Fortunately, an estate-planning tool that could...
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The various types of trusts
North Carolina residents may take advantage of a variety of trusts as part of their overall estate plan. For instance, a testamentary trust is one that is included in a will. The will spells out which assets the trust is to hold after the testator passes away, and...
Estate tax and gift tax exemptions may rise in 2018
Couples in North Carolina and throughout America may see their joint federal estate tax exemption climb above $11 million in 2018. It is also likely that the gift tax exemption will increase to $15,000 for 2018, which would mark the first increase since 2013. The...
How to properly pass on an IRA
North Carolina residents who have an IRA may designate a beneficiary to the account or otherwise include it in an estate plan. How it is accounted for generally depends on who it is going to. It could go to a spouse, which may be beneficial because he or she can...
Risk mitigation for trustees
As an increasing number of North Carolina residents are establishing new estate plans, trusts are becoming more complex. Today's trusts contain many more assets, including entire businesses. As new trusts evolve, more litigation is occurring to test these plans. It is...
How to pick the right successor trustee
A living trust can provide many benefits to North Carolina residents. Part of creating such a trust is naming a trustee. While this may seem like an easy thing to do, it does require some thought and planning. In many cases, the person who creates a trust will be the...
Educational trusts and estate planning
Parents and grandparents living in North Carolina are often concerned about the cost of higher education. These individuals often seek out ways to begin saving and investing early so that their children and grandchildren will be able to pursue their educational goals...
The uses of a funeral trust
People in North Carolina who are creating an estate plan might want to consider a funeral trust. If a person has enough money to pay for long-term care and funeral expenses, a funeral trust might not be necessary. A person may also opt instead to have a life insurance...
Avoiding estate taxes on life insurance
With good planning, North Carolina residents may be able to deal with life insurance policies in a manner that minimizes estate tax consequences. Proper planning can help in this regard. People purchase life insurance in order to offer financial protection for their...
Creating trusts in blended families
North Carolina couples who are creating an estate plan and who have children from previous marriages might be concerned about making sure that children are treated equally. For example, one woman married a man who had two daughters. In the original version of the...
