October 2014 Posts

  • Title Issues in North Carolina Estates: Joint Tenants

    This post addresses the possible issues that may develop with one way of titling property: Joint Tenants with right of survivorship (JTWROS). ...
  • NC Estate Planning for Singles

    As the number of cohabiting unmarried couples rises, more families have multiple generations residing in a single household, and the law develops regarding the rights ofmarried same-sex couples in North Carolina, a large demographic of our state’s residents is overlooked: Singles....
  • Trends in 529 College Savings Plans

    As student loan debts are at historic highs, new families are responding by investing in the next generation’s college savings. Record high funding of 529 College Savings Planswas recently reported by financial asset management company Strategic Insight....
  • Pending Court Case May Affect ‘Double Income Tax’

    A couple’s case addressing the taxation of out-of-state income by their resident state is currently pending in the United States Supreme Court. Comptroller of the Treasury of Maryland v. Wynne questions the circumstances under which income earned out-of-state may be taxed, whether tax credits exist and what they provide, and if these procedures comply with state and county tax clauses....
  • Access to One’s Digital Estate

    More states are starting to address a growing area of an individual’s estate: Digital assets. Last year North Carolina was slated to amend the durable power of attorney and estate administration laws to include power to manage digital assets, but the provisions did not pass. ...
  • Protecting IRA Assets for Beneficiaries: IRA Beneficiary Trusts

    Earlier this year the Supreme Court ruled in Clark v. Rameker that inherited retirement accounts are subject to bankruptcy claims. As a result of this ruling, IRA owners are taking steps to ensure assets accumulated over a lifetime are protected for loved ones. ...
  • Gifting Trends Among Wealthy

    How and why individuals choose to donate to charities are influenced by several factors. Tax incentives for charitable giving are believed to be driving gifting trends, but there are also personal values and family legacies to consider. ...
  • Same-Sex Marriage Update

    On Monday, during its first day in session, the Supreme Court declined to hear seven pending appeals from federal appellate courts regarding same-sex marriage. The denials, which came without comment, mean that there is still no declaration at the national level that denial of same-sex marriage is unconstitutional. ...