Trusts

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). Weapons covered under the National…

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 eventual inheritors of your…

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…

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…

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…

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…

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…

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…