Posted on April 12, 2017 by Gregory Herman-Giddens

3 Reasons Why an Executor May Resign

Occasionally an executor must resign from their role. In North Carolina, the executor must file a formal petition with the clerk of court stating the reason(s) for resignation. […]

Posted on April 7, 2017 by Gregory Herman-Giddens

Taxes That Apply to Inheritances in NC

While North Carolina’s estate tax was repealed in 2013, other taxes may apply to an inheritance. Tax implications depend on the type of asset, the value, and other factors. […]

Posted on April 6, 2017 by Gregory Herman-Giddens

5 Considerations for Rental Property in Probate

Whether it’s a single property or multiple homes, rental property in probate poses a few concerns. Discussed below are five issues that must be addressed if a decedent owned rental property. […]

Posted on March 30, 2017 by Gregory Herman-Giddens

2017 North Carolina Tax Law Changes

Changes to tax rates in North Carolina became effective on January 1, 2017. The adjustments affect both businesses and individuals. When revising tax planning efforts, consider the modifications below. […]

Posted on March 23, 2017 by Gregory Herman-Giddens

New Legal Library on Trusts, Estates, and Tax Law

TrustCounsel's new Legal Library is now a permanent free online resource with guides to help direct executor’s discussions with attorneys, as well as to alert legal and financial practitioners of important probate and trust law matters. […]

Posted on March 21, 2017 by Gregory Herman-Giddens

Inherited IRA Issues in North Carolina

Inherited IRAs face differing regulation based on whether the beneficiary is a spouse or a non-spouse. Marital status also influences how North Carolina’s intestate succession law applies to an estate, which may pertain to retirement accounts. FINRA released an Investor Alert early this year advising IRA beneficiaries to review inherited IRA tax implications. […]

Posted on February 10, 2017 by Gregory Herman-Giddens

North Carolina Places 15th Again for Trust Decanting in 2017

Once again, North Carolina holds steady at #15 out of twenty-five states with provisions for decanting. The collective includes two additional states that adopted legislation for decanting over the past year. The 2017 Trust Decanting State Rankings Chart shows South Dakota and Nevada remain top jurisdictions for decanting. […]

Posted on January 25, 2017 by Gregory Herman-Giddens

Why North Carolina Trustees Should Acquire Liability Insurance

Without liability insurance, trustees remain personally accountable for trust administration mistakes. Certain insurance policies help to manage trustee liability. These errors and omissions insurance policies for trustees provide coverage in the event that claims, lawsuits, or damages occur as a result of the trustee’s actions or inaction. […]

Posted on January 25, 2017 by Gregory Herman-Giddens

The Taboo Subject of Estate Planning and Firearms

A guest contributor on Southern Gun Law Group, Dennis Gayness is a Certified Firearms Appraiser with the Triangle Shooting Academy. In his guest post he delves into events throughout history that have influenced rare and collectible firearms passed down through generations. […]

Posted on January 24, 2017 by Gregory Herman-Giddens

Out-of-State Property in North Carolina Probate

The executor must inventory and evaluate all personal property, vehicles, and assets that pass through probate. However, if the decedent held property outside of North Carolina, those assets must follow the laws present in the alternate jurisdiction. […]


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