Asset Protection

There are many fees and taxes that can be imposed on an estate after the death of a loved one. However, some states also impose a tax on an heir that has inherited from the estate. This is known as…

Most individuals today participate in some sort of social media, an example would be Facebook.  However, many do not consider and prepare for the potential consequences that death may have for their digital accounts. What happens to a Facebook account…

So many people prepare for the “what happens to my stuff, bank accounts, and other personal items if something were to happen to me” by drafting a Will, Power of Attorney or a Trust.  But what are people doing about…

Transfer-on-death (TOD) accounts are bank or brokerage accounts with a named beneficiary. These may also be referred to as payable-on-death accounts. They can be a simple but important part of your estate plan. How TODs Work If you have a…

As our digital lives continue to expand, digital assets are becoming a bigger component of estate planning. Unfortunately, some people fail to include digital assets in their estate plans, and laws made to apply to real-world assets may not handle…

Living trusts are a common estate planning tools used to accomplish various objectives. One of the main reasons people used living trusts is to keep certain property out of probate court or avoid the need to go through probate entirely.…

When you leave assets to your children, you may intend for the property to stay in the family for many generations. However, a number of events that are out of your control could cause the assets to end up in…

Imagine the following scenario: you work hard to accumulate wealth during your lifetime and create a comprehensive estate plan to care for your family. But then, after you pass away, the assets you leave to one of your children are…

Trusts can be used for assets protection, but not all trusts shield assets from your creditors. State laws also vary regarding when trust assets will be susceptible to collection by your potential creditors. Asset Protection Trusts North Carolina currently does not permit…