If you know about estate planning, you know that it is a great strategy for preparing for what happens to your assets after your death. It can also be used to prepare for incapacity when you will need someone to help you manage your affairs while you are still alive. If you plan ahead, with the help of experienced estate planning attorneys, then you will have the opportunity to control how your estate is distributed, as well as take steps to reduce or eliminate your estate taxes. However, a … [Read more...] about How Can I Keep My Estate Plan Private?

Being named as the executor of a will can be both an honor and a challenge. It can also leave you with many questions. Most people in the United States have at least a passing familiarity with the Last Will and Testament – though not even half of all adults create one. For those who do, however, there are few choices more consequential than the decision about who will serve as the will’s executor. And often times, the person making out the will may not even fully understand what it is that … [Read more...] about Understanding the Duties of an Executor of a Will

Although most people equate estate planning with simply creating a last will and testament, a will is not always the best choice.  If you use a will to state your final wishes, your heirs will receive lump-sum inheritances. However, everyone is not good at managing money, and this can be disconcerting. Let our Charlotte living trust attorney explain how using a living trust can be a better choice than a simple will. One way to deal with this is to create a revocable living trust and use the … [Read more...] about Charlotte Living Trust Attorney Explains How a Living Trust Can Be Better Than a Will

A legal matter can sometimes seem like an exercise in paper shuffling, and this mentality is often applied to the subject of inheritance planning. However, the estate planning process can be complex so let our Charlotte estate planning lawyer help you get started now. Estate planning is unique so it takes time Each family is different, so there is no one-size-fits-all estate plan that is perfect for everyone. There are those who assume that you can simply draw up a quick last will toward the … [Read more...] about The Time to Start Estate Planning is Now

We all know that passing away is one of the two certainties of life, but in spite of this, the majority of American adults are not properly prepared from an estate planning perspective. A lot of people fail to act because they really don't know why estate planning is important. Let's look at three things that you should know about estate planning. When you digest this information, you will understand why estate planning is essential. Our Ashland estate planning attorney can provide the … [Read more...] about Things to Remember about Estate Planning in General

The federal estate tax may be something that only affects a relatively tiny number of estates each year, but it’s still a tax that most people would like to avoid whenever possible. That’s why the tax itself has been a cause for debate for many years now. Some in North Carolina have worried about this tax as well, since it can impact any estate that meets that $5.49 million threshold. Fortunately, the North Carolina estate tax is no longer a concern, since that tax was repealed in recent years. … [Read more...] about North Carolina Estate Tax: Should You Be Concerned?

Almost everyone knows by now that it is possible to create your own will. Indeed, many Americans do so every year, either writing them from scratch or using fill-in-the-blank form documents they download from the internet. Of course, being possible and being advisable are not always the same thing. All too often, estate planners end up fixing these types of DIY legal documents when they turn out to be less effective than the client thought. That raises an interesting question-: can a DIY will … [Read more...] about The DIY Will: Can it Ever Work for Your Needs?

Most people give little thought to probate until they end up having to deal with the process as an executor or find themselves waiting to receive an inheritance. As a rule, probate is usually simple to avoid – just as long as you have the right estate planning tools in place to ensure that your assets have some other way of being distributed when you die. However, since most Americans have no estate plan – and even many of those who do rely on nothing more than a basic will – the clear majority … [Read more...] about How Long Does Probate Take, and Why?

Many individuals will create a living trust to ensure that an individual they trust has the ability to manage their finances if they are unable.  If an individual does not have a living trust as part of his estate plan, or even if he does, a power of attorney is a critical part of estate planning. Creating a power of attorney allows you to select the person you want to take control of and manage your property and affairs in case you become incapacitated in the future.  This is one of many … [Read more...] about Recognizing the Benefits of a Durable Power of Attorney