May 5, 2016Who Needs A Will?
Who needs a will, living will, healthcare power of attorney, and a durable power of attorney? The answer may surprise you, but truthfully the answer is everyone should have these four documents. Most people think wills, end of life, and incapacity documents are solely for “old people” and while it is true that the elderly (more…)
May 3, 2016Health Care Directives and Planning for the Future
Who will make your healthcare decisions when you are no longer able? What plans do you need to make to ensure that your end of life transitions are peaceful and uninterrupted? When is the right time to start thinking about these types of questions? NOW is the answer. We are all growing older each day, (more…)
April 5, 2016Don’t Want To Burden Your Family But Want To Leave A Legacy
The loss of a loved one is a difficult beyond anything you can imagine. Most of us have suffered loss and can relate and understand the pain and anguish that you or someone you know is suffering with. What is worse is that this is not their only burden. The burdens start before death and (more…)
April 25, 2015Why you should not write your own will?
North Carolina actually does allow people to write their own will. Typewritten or attested wills must be executed with certain formalities required by law. One alternative to an attested will is a handwritten will. The law calls this a “holographic will.” NCGS Section 31-3.4 provides as follows: (a) A holographic will is a will (1) (more…)
August 1, 2014Do I Need a Trust?
A trust is very useful when dealing with estate planning because it makes costs decrease and the confusion of estate planning and division much easier with a trust in place. Opening a trust is slightly expensive, so it will probably only be beneficial if you have a net worth of at least $100,000 and at (more…)
June 1, 2014Partition by Sale vs Partition in Kind
Partitioning is a division in real or personal property between co-owners. This typically occurs when property is inherited or passed down to heirs. There are two types of partitioning: Partition in Kind and Partition by Sale. These are described in Chapter 46 of the North Carolina General Statutes. Partition in Kind (also known as Actual (more…)
January 4, 2014Understanding Wills in North Carolina
If someone dies, he/she loses control in any literal sense. ‘Succession’ includes the law of wills, the law of intestacy, the law of trusts, the law of charitable foundations etc. We can call the law of wills as ‘dead hand rules’ as it sets out a scheme for disposing of the property when someone dies. (more…)
October 14, 2013General Power of Attorney
I tell people that I’m not entirely sure which is more important to have, legally, a will, or a general power of attorney. Most people know what a will does – the primary purpose of which is to see to it that certain people get assets after your death. Fewer people know what a power (more…)
August 1, 2013The Importance of a Will for Surviving Spouses
The importance of having a will to pass along property and belongings after death is often overlooked during one’s lifetime. If someone you love passes away in the State of North Carolina without a will, property and assets will be distributed according to the Intestate Succession and accompanying statutes/laws, N.C. Gen. Stat. Chapter 29, and (more…)
July 9, 2013Summary Administration of an Estate
The North Carolina General Statutes provide for a more simplified and streamlined process for estate administration when the surviving spouse is the sole beneficiary of the deceased spouse’s estate. This option for estate administration is found in North Carolina General Statutes Chapter 28A and is known as summary administration. To qualify for summary administration of an (more…)