A Medicaid trust is an irrevocable trust some families use to help protect assets from the cost of long-term care while working toward Medicaid eligibility. If you’re helping a parent plan for nursing home care, or you’re trying to protect what your family has built before a health crisis forces the issue, you already know…
Trusts
How a Special Needs Trust Actually Works in North Carolina, South Carolina, and Tennessee
A special needs trust is a legal arrangement that lets a person with a disability receive money or property without it counting against the resource limits for programs like SSI and Medicaid. If you’re planning for a child or other…
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Preserving Your Children’s Inheritance Money With A Lifetime Asset Protection Trust In South Carolina
Generational wealth can be difficult to preserve. Click here to learn how a lifetime inheritance trust can secure inheritance money.
Choosing Between Revocable and Irrevocable Trusts
The Role of Trusts in Estate Planning Trusts play a crucial role in estate planning, offering a structured way for individuals to manage and protect their assets. Whether it’s real estate, bank accounts, or investments, a trust allows you to…
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Should I create a trust?
If you own property, have children from more than one relationship, want to avoid probate, or have a family member with special needs, you likely have at least one reason to create a trust. A trust is a legal arrangement…
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Your Cyber Legacy: 3 Tips for Protecting Your Digital Assets
Struggling with emotional distress caused by someone else’s actions? Find out if you have a valid claim and how King Law can help.
Do Your Parents Have an Estate Plan?
Struggling with emotional distress caused by someone else’s actions? Find out if you have a valid claim and how King Law can help.
Detecting And Addressing Hidden Assets In Divorce
During a divorce, each spouse is typically expected to provide complete and accurate financial statements to facilitate the court’s decision-making processes related to the division of marital property as well as any orders concerning child support and any awards of…
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How Antitrust Law Shook Up College Sports
The business of sports has long been shaped by the development of several areas of law, but none may have had more of an impact than the area of antitrust law. Antitrust law is focused on promoting competition and prohibiting…
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Wills vs. Trusts in Tennessee: Which Estate Planning Tool Is Right for You?
When planning for the future, one of the most important steps you can take is establishing a clear and legally sound strategy for managing and distributing your assets after your death. In Tennessee, two of the most common estate planning…
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Trusts And Estates Division In Divorce
As a couple goes through life together, having children and acquiring assets, they begin thinking of the future. They make estate plans and establish trusts to provide for each other and their heirs. However, if that marriage falls apart one…
Read MoreDetecting And Addressing Hidden Assets In Divorce
During a divorce, each spouse is typically expected to provide complete and accurate financial statements to facilitate the court’s decision-making processes related to the division of marital property as well as any orders concerning child support and any awards of…
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How to Terminate a Trust
Even irrevocable trusts can be modified or terminated in some situations. Sometimes the trust has served its purpose and no longer has sufficient assets to continue operating. Other times, changed circumstances require the trust to be terminated or converted into…
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What is a Gun Trust?
A gun trust can be used to stay in compliance with federal, state, and local laws that apply to certain firearms. These trusts may be called NFA Gun Trusts because they are used for weapons covered by the National Firearms…
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Special Needs Trusts: Securing the Future of Loved Ones
Caring for individuals with special needs requires a comprehensive and thoughtful approach to ensure their financial security, quality of life, and access to essential support services. Special Needs Trusts (SNTs) have emerged as a powerful tool in this endeavor, providing…
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Grantor, Irrevocable, and Inter Vivos, OH MY!
Estate planning, just like everything today, is analogous to car buying—or if you prefer—cereal. There are sometimes so many options that consumers are overwhelmed by the options they have and sometimes go with products that do not meet their needs…
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Are Trust Distributions Subject to Alimony Calculation
When it comes to divorce cases, the treatment of trust income and assets can significantly impact the division of marital property. This blog post focuses on the differences between marital and separate property and the influence of trust assets on…
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What is a Special Needs Trust and How Do I Know if I Need to Create One?
If someone you love and wish to provide for has a disability, a special needs trust may be the ideal way to do so. Estate planning is complex and there are many ways to transfer your assets to others both…
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Gun Trusts
Why Create a Gun Trust? A gun trust is a great way to ensure that your guns are inherited and passed to designated individuals. Gun trusts must be drafted to ensure that they comply with the National Firearms Act (NFA).…
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Passing on Family Values as Part of an Inheritance
Instilling Family Values Early Successfully addressing and legally formalizing inheritance of family values and assets can be challenging, especially if parents wait too long to begin instilling family values. Undoubtedly the best time to teach and empower your children as…
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How to Use Life Insurance in Your Estate Plan
Life insurance is often used to provide for loved ones if a primary breadwinner passes away. However, there are also many other benefits of life insurance when it comes to your estate plan. Talk to your estate planning attorney about…
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What is a Trust Protector?
A trust protector is a person or entity other than the trustee or trust grantor that has certain powers over a trust. Trust protectors are also referred to as “power holders” under North Carolina law. Trust protectors can provide a…
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Irrevocable Living Trust in North Carolina
Irrevocable trusts are just that—you generally cannot change or revoke the trust after you create it. These trusts are therefore much less flexible than revocable living trusts, but they do have some benefits that revocable trusts don’t offer. Proceed carefully…
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The Difference Between Trusts and Custodial Accounts
Trusts and custodial accounts are two methods of bequeathing property for the benefits of minors. Individuals under age 18 cannot legally own title to property in North Carolina, so these methods allow for an adult to care for the property…
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