As part of your estate plan, you may consider using a power of attorney. This document gives you the chance to legally choose an agent who can act on your behalf. For example, you could use a medical power of attorney, and your agent could then make healthcare...
trust & probate administration
The rules for handling debts during estate administration
The individual serving as the personal representative of a North Carolina estate has a lot of responsibilities to fulfill. They need to communicate with the courts, manage estate resources and uphold someone's last wishes. One of the most basic requirements of the...
How small estates qualify for probate shortcuts
It is no secret that probate can be extensive and complicated, depending on the amount and type of assets involved, among other considerations. Aside from the lengthy process, probate costs can add to heirs’ and beneficiaries’ worries. If the estate involved is small,...
What should you consider before agreeing to be an executor?
Agreeing to be the executor of an estate is a big commitment and one that requires forethought. Overseeing the closure of someone's estate is not something you should take lightly. Taking your time to consider the obligations and whether you have the flexibility to...
How to appoint a guardian in your estate plan
You are not alone if you have children but no estate plan. Many people wrongfully believe that only wealthy people require an estate plan, but in reality, estate plans are for everyone. Without an estate plan, your children's future becomes less certain. In the U.S.,...
What should you expect from an executor?
An estate executor has important responsibilities to accomplish including selling assets and settling debts. The person you assign to this role will handle your financial affairs and have access to confidential information. Take your time deciding who you want to be...
Finetuning your will to reinforce your estate plan
Having a will provides a great point of reference for your surviving family members as they prepare to close your estate. It can also provide visual reassurance to you that asset distribution will align with your intentions. Creating a will that meets your...
Preparing for your role as an executor
Having the responsibility of closing an estate requires time, patience and organization. Prior to accepting a request to be an executor, make sure you understand what your obligations will be. Your preparation can improve your confidence and your ability to...
Do family members make the best executors?
When trying to choose an executor for your estate plan, it is likely that you will think of family members before anyone else. After all, you are likely closest to them. However, is a family member your best option when it comes to executors? Duties of an executor...
Why do sibling spats over estates happen?
Many people are likely familiar with the trope of families fighting over a deceased relative's estate or will. Unfortunately, this actually happens in real life and can result in the breakdown of a family unit. Why exactly do these disputes occur? How can people...
