We get it, estate planning seems daunting. But, in the midst of the craziness of the last year or two, it has become quite the popular topic in the news and on social media. This is because estate planning is how we plan for the inevitable, death and taxes....
Why should I establish a trust if I already have a will?
It is commonly known that having a will is important if you have a preference regarding who you want to inherit your property and assets when you die. Many people in Charlotte have taken the wise step of executing a will. But is a will their only estate planning tool?...
Taking care of a child with special needs
The care and attention that loved ones give to a child with special needs does not end when they grow up. Fortunately, there are government programs that can give basic support to such individuals for food, clothing and shelter. But the assistance may not provide...
What are your options for trusts?
You feel ready to tend to your estate plan, and you learn about wills and trusts. Do you understand the different trust options? CNN Money describes multiple legal entity types. Determine which suits your needs most favorably. Revocable/Irrevocable With a revocable...
What are the benefits of a living trust?
Even with a last will and testament in place, you may still want to create a living trust. While a will dictates what you would like done with your assets and property once you pass, names guardians and appoints an executor to look over the estate, a living trust can...
Debt and your estate plan
Those creating or modifying an estate plan have a wide range of issues to take into consideration. Sometimes, people face a lot of uncertainty as a result of debt and there are different ways in which debt can affect an estate plan. For example, some people have to...
Should I set up a trust?
You have worked your whole life to accrue assets, like your home, retirement savings, vehicle, and more. That is why proper estate planning is so important. A solid estate plan preserves your assets and also ensures your family members receive the proceeds to ensure...
Is establishing a special needs trust necessary for our child?
There may be days when it feels like you and your spouse are the only people in North Carolina who genuinely understand what your son or daughter requires to thrive. Establishing and funding a special needs trust might give you the peace of mind that he or she will...
What is decanting?
Some people are not sure about setting up trusts because they can be hard to change. Irrevocable trusts, for example, cannot be altered unless the beneficiaries consent to it. Fortunately, North Carolina law provides residents with a way to change the terms of their...
What will happen to my pet when I am not around?
A common fear among many pet owners is what may happen to their pets upon their death. To many people, pets are like family. Since they cannot inherit property or money, it becomes hard to dictate what will happen to them after you are gone. The State of North...
