March 19, 2013Advancements in North Carolina
The question of whether or not gifts made during the lifetime of a decedent is covered by the North Carolina law of advancements. Since we are dealing with a decedent, the estate administration laws of North Carolina are the controlling legal rules which to apply. An advancement is defined by North Carolina General Statute §29-2(1) (more…)
January 31, 2013Partition and Partition by Sale
Oftentimes, when individuals own real property with other individuals, conflicts regarding the property may arise. These conflicts and disagreements may not always be situations that can be resolved between the parties. To provide a remedy for situations in which these conflicts occur, North Carolina has enacted Chapter 46 of its General Statutes.
January 2, 2013Revocable Trusts
A lot of people hear the term “trust” and think that it is a legal device used only by the ultra-wealthy, but nothing could be farther from the truth. Many people uses living trusts or revocable trusts as a better method than a simple will to deal with property during and after death. There are (more…)
December 5, 2012Do You Know Where Your Will Is?
In the legal world, photocopies and digital copies are very common and generally accepted as “legal” for most purposes. However, in some circumstances the original is required. An individual’s last will and testament is one such circumstance. Upon death of an individual, in order to probate a will, the original document must be presented to (more…)
November 6, 2012Reviewing Your Estate Plan for 2013
There are few guarantees in life, but as most people know, death and taxes are a few of these guarantees. Estate Planning is the tool used to transfer assets from one generation to another and avoid the estate tax in the process. Over the last decade, the estate tax has been a very fluid concept (more…)
June 2, 2012Wills & Divorce
When it comes to wills and estate planning, I’ve seen a lot of confusion and unintended consequences over the years. For example, oftentimes individuals serving as attorney-in-fact under a durable power of attorney continue to act after the principal dies. This is improper because the power of attorney dies with the principal. At that point, (more…)
December 28, 2011An Immeasurable New Year’s Resolution
It’s almost that dreaded time of the year for anyone. This is the year,” so the resolution goes, “that I vow to lose ten pounds and keep it off.” Most resolutions are so cumbersome; the maker of the resolution is unable to keep the resolution, which is self-defeating. An easy resolution for the New Year (more…)