Huntersville Estate Planning Lawyer

Huntersville Estate Planning Attorney

Trying to tackle an estate plan on your own can be nearly impossible. Even a small clerical mistake can lead to your estate plan being legally invalid. Working with an experienced Huntersville estate planning lawyer is the easiest way to ensure your wishes are respected throughout the entirety of your life and beyond.

Choose Orsbon & Fenninger, LLP, to Help You Plan Your Estate

Since 2001, the attorneys at Orsbon & Fenninger, LLP, have helped hundreds of residents plan their estates. Our three lawyers have over 68 years of combined experience working in North Carolina law.

As longtime state residents, we’re passionate about protecting the legal rights and interests of our fellow neighbors and community members. Understanding the culture and dynamics of our state has been pivotal in our mission to provide streamlined legal services to those starting their estate plan.

When you work with us, you’ll be met with empathy and transparency. We’re here to be a part of your team.

The Elements of an Estate Plan in North Carolina

Around 139,644 residents of Mecklenburg County were over the age of 65 in 2023, an important reminder that estate planning becomes more urgent with age. Established residents in North Carolina should consider starting their estate plan as soon as possible. The longer you wait, the more you’re leaving your estate to chance.

An estate plan can include:

• A will: This document details how you want your physical property to be handled after you die. Probate is the official process that begins when a person passes away. For residents of Huntersville, this process is typically overseen by the Mecklenburg County Court, located at 832 East Fourth Street in Charlotte.
• Healthcare power of attorney: Estate plans are not only about your physical belongings, but your health, too. Naming a healthcare power of attorney allows that person to make medical decisions on your behalf if you are unable to speak for yourself.
• Power of attorney: This document names someone you trust to act on your behalf if you’re unable to do so. A power of attorney can have broad authority or be limited to one specific task. For example, you can name a power of attorney to handle the sale of your home while you’re out of the country. This role ends when you pass away, revoke it, or the task is completed.

If your estate goes through probate, a representative will be in charge of collecting your assets, using them to pay off any outstanding debts or taxes, and distributing the remaining assets to the people or organizations named in your will.

In 2023, the average home value in Huntersville was $439,300. The average household income was $119,951. These tend to be a person’s highest-value assets in life and require proper management to ensure they pass to their named heirs as seamlessly as possible.

It’s important to hire an estate planning lawyer during this time. They’ll be able to help you draft the most advantageous estate plan needed for your unique needs.

What Happens When a Resident of North Carolina Passes Away Without a Valid Will?

If a resident of Huntersville, North Carolina passes away without a proper will in place, their estate will be handled according to North Carolina’s intestate succession laws.

These laws frequently go against the personal wishes of the deceased, making it important to ensure your will is drafted and legally compliant. According to these laws, if you die without a will and:

• If you have no children or parents, all of your estate will go to your spouse.
• If you have one child or one grandchild, your spouse would receive a portion of the estate.
• If you have more than one child or grandchild, your spouse’s share shrinks.
• If you didn’t have a spouse, children, or grandchildren, your estate would be distributed among your parents, siblings, and extended family members.

FAQs

When Should You Get an Estate Lawyer?

You should get an estate lawyer before starting your estate planning process. To get the most benefits out of your state plan, an experienced attorney can offer legal guidance to help your future probate process be as streamlined as possible. If you make any mistakes on your documents, they may be considered legally invalid. For example, for a will to be valid in North Carolina, it must be signed in front of two witnesses, who then also sign it.

What Assets Do Not Go Through Probate in North Carolina?

Certain assets may not have to go through probate in North Carolina if they are placed in a trust. Trusts help ensure your loved ones receive assets more quickly after you pass away. Revocable trusts can be edited during your lifetime. Irrevocable trusts, once created, are permanent and cannot be changed. People often create trusts to avoid probate, reduce taxes, and support Medicaid eligibility planning.

What Is Collection by Affidavit During Probate?

During probate, certain estates can go through a collection by affidavit instead of the full probate process. This process is faster and cheaper than probate. A person’s estate can go through a collection by affidavit if their personal belongings total less than $20,000. However, if there is any real estate that needs to be sold within two years after a person passes, their estate cannot go through collection by affidavit and must go through regular probate.

Is There an Inheritance or Estate Tax in North Carolina?

There is no inheritance or estate tax in North Carolina after a person passes away. However, there is a federal estate tax. In 2026, any estates valued over $15,000,000 will have a federal estate tax applied to them during probate. Any estates that owe this tax will pay it through the estate’s assets. Leftover assets will then be distributed according to the person’s will or North Carolina’s intestate succession laws.

Hire an Estate Planning Lawyer to Ensure Your Wishes Are Respected

Two of the attorneys at Orsbon & Fenninger, LLP, are board-certified specialists in estate planning and probate law by the North Carolina State Bar. We use our certifications and professional experiences to help guide our work today.

Contact our office in Charlotte today to learn how our skilled attorneys can assist you in your estate preparation process. No matter your unique needs, our Huntersville estate planning lawyers can give you some peace of mind for your future.